Mumbai: The BSE benchmark Sensex on Friday gained over 123 points in early trade on sustained buying in ONGC and RIL as government has virtually deregulated diesel prices in a key economic reform measure.
The 30-share barometer rose 123.75 points, or 0.62 percent, to 20,087 with stocks of oil and gas, auto, PSUs, metal and banking sectors extending support.
Similarly, the wide-based National Stock Exchange index Nifty moved up by 36.90 points, or 0.61 percent, to 6,076.10.
In a bold reforms decision, the government had on Thursday partially deregulated diesel price allowing a hike of 40-50 paise a litre per month for retail customers and nearly Rs 11 for bulk consumers.
Shares of ONGC were trading at Rs 348.10 a piece, up 10.68 percent in the early morning trade, RIL rose 897.30, up 7.65 percent.
Among Asian markets, Hong Kong's Hang Seng rose by 0.74 percent, while Japan's Nikkei shed 0.2.50 percent.


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