BSE Sensex gains, oil stocks rise

BSE-SENSEX-RELIANCE-ITC:BSE Sensex gains defensive, oil stocks rise

The BSE Sensex rose 1 percent on Tuesday, recovering from steep losses the previous session as some defensive stocks such as ITC gained, while oil stocks such as ONGC surged as crude prices continued to slump.

Reliance Industries rose 2.5 percent, benefitting from its continued share buyback programme.

The Sensex provisionally rose 1 percent to 16,871.20 points.

The broader 50-share Nifty provisionally rose 0.8 percent to 5,105.70 points.

ITC rose 2.3 percent, while ONGC rose 1.4 percent.

(Reporting by Abhishek Vishnoi and Manoj Dharra)