Nifty up 3 percent as rupee recovers, energy shares rally

MUMBAI (Reuters) - The Nifty rose as much as 3 percent as energy firms such as Oil and Natural Gas Corp and Reliance Industries rallied after the government approved a hefty increase in gas prices.

Sentiment was also boosted as the rupee gained on Friday, further retreating from a record low hit on Wednesday.

ONGC shares were up 3 AT 3.28 p.m., while Reliance was up 3.7 percent.

The BSE Sensex and the Nifty were up 2.8 percent each. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)