BSE Sensex rises 290 points, gains for third day

MUMBAI (Reuters) - The BSE Sensex rose 290 points and the Nifty gained 87 points as bank stocks continued to rise after the Reserve Bank of India's slew of measures unveiled by new governor Raghuram Rajan, while oil and gas company ONGC rose on hopes of a diesel price hike.

ICICI Bank Ltd rose 7.24 percent while Oil and Natural Gas Corp Ltd ended 6.74 percent higher.

The benchmark BSE Sensex rose 1.53 percent, while the broader Nifty ended 1.56 percent higher, gaining for a third consecutive session on Friday.

(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)