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At 10.32 AM, the Sensex moved up 32.34 points at 19849.97, and the Nifty was trading 8.85 points up at 6010.70.
HPCL was up 5.90 percent, BPCL spiked 1.58 percent and IOC rose 2.33 percent in anticipation of a positive outcome from the Cabinet meet. Reliance, ONGC, Cairn India, and Oil India were trading with gains of 0.73 percent, 0.38 percent, 0.03 percent and 1.03 percent respectively.
Besides Reliance, stocks that were lending support to the BSE benchmark were Infosys, TCS, SBI and Tata Motors. ITC, HDFC, HDFC Banbk and ICICI Bank were weighing on the Sensex.
Index heavyweight Hindustan Lever was trading at Rs 500.60 up 0.28% from its previous close of Rs 499.20 and Cigarette major ITC was trading at Rs 283.00 down 0.23% from its previous close of Rs 283.65.
After near 200-point crash, BSE benchmark Sensex opened at 19833.36 up 15.73 points supported by oil and gas stocks. The Nifty was up 4.40 points or 0.07% at 6006.25.
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Risk is a four letter word: Author Jerome Booth