Oil companies gain after RBI opens forex swap window

Reuters Market Eye - State-owned oil companies gain on the Reserve Bank of India's move to provide dollars directly to these companies.

The RBI announced late on Wednesday a special window "with immediate effect" to sell dollars through a designated bank to Indian Oil Corp Ltd , Hindustan Petroleum Corp and Bharat Petroleum Corp "until further notice".

IOC is up 1.1 percent, HPCL gains 1.2 percent while BPCL is up 2 percent.

Expectations of a hike in diesel prices after parliament's monsoon session ends on September 6 are also seen helping shares.

Oil and Natural Gas Corp Ltd also gains 2.1 percent.

(Reporting by Abhishek Vishnoi)