Shares of four oil exploration and production firms rose 1.06% to 5.84% at 12:45 IST on BSE as crude oil prices surged overnight.
Reliance Industries (up 1.06%), Oil India (up 3.1%), Cairn India (up 5.84%) and ONGC (up 5.92%) edged higher.
Meanwhile, the S&P BSE Sensex was up 411.34 points or 1.57% at 26,642.53
A recovery in crude oil prices from a steep slide recently has eased concerns of lower realizations from crude sales.
In global commodities markets, Brent crude oil futures edged higher after a solid rally overnight triggered by upbeat US GDP growth data. Brent for October settlement was currently up 20 cents at $47.76 a barrel. The contract had surged $4.42 a barrel or 10.25% to settle at $47.56 a barrel during the previous trading session.
Oil markets were also supported by media reports that oil producer Venezuela has requested for an emergency meeting of the Organization of the Petroleum Exporting Countries in coordination with Russia to stem the recent oil price rout.
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