BSE Sensex higher; Reliance Industries, DLF gain

Reuters Market Eye - The BSE Sensex gains 0.14 percent and the Nifty is up 0.18 percent. Shares in Reliance Industries extend gains to 3 percent, after the company said it will invest over $5 billion in the next three to five years jointly with UK partner BP to boost declining output at a key natural gas field off India's east coast.

Oil marketing companies trading higher, with traders saying that oil and gas stocks are likely to benefit from government reforms in the sector.

Indian Oil Corp up 1.1 percent, Bharat Petroleum Corp gains 3 percent and Hindustan Petroleum Corp is up 2.8 percent.

DLF shares gain 3.7 percent, hitting their highest level since January 11, 2011, on continued hopes of an earnings recovery and on a CLSA upgrade. The property developer gained 8.6 percent in the previous two sessions.

(Reporting by Manoj Dharra)