Shares of four oil exploration and production firms rose by 1.44% to 3.53% at 15:01 IST on BSE as crude oil prices extended previous trading session's gains.
Reliance Industries (up 2.63% at Rs 885), Cairn India (up 1.44% at Rs 155.05), Oil India (up 2.64% at Rs 442) and ONGC (up 3.53% at Rs 240.60) edged higher.
Meanwhile, the S&P BSE Sensex was up 575.65 points or 2.2% at 26,796.60.
In the global commodities markets, Brent crude oil futures extended previous trading session's gains. Brent for November settlement was up 64 cents at $48.77 a barrel. The contract had risen 44 cents or 0.92% to settle at $48.13 a barrel during previous trading session.
Higher crude oil prices will increase realization from crude sales for oil exploration firms.
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