BSE Oil index reaches highest level since 2008

BSE Sensex has dropped by 0.11% and is trading at 28,190.52 points at 1345 hours. 

BSE Sensex rose nearly 100 points, up 0.34% in opening trade on Thursday as oil refiners, including Reliance Industries gained between 1% to 2%.

BSE Oil Index has crossed its highest level since 2008 with Hindustan Petroleum (HPCL) trading up 2.07%, at Rs 443.35 per share on BSE at 9.55 am. Other major gainers were Chennai Petroleum Corp, up 2.03%, Bharat Petroleum Corp, up 1.71% and Indian Oil Corporation, which was up 2.5%. 

BSE Sensex has increased nearly 8% year-to-date with BSE Oil Index jumping nearly 3% on Thursday. 

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Other major gainers were Reliance Industries, trading up 2.44%, at Rs 1,116 per share, GAIL India, Rs 412.10 per share, up 2.92% and ONGC which was trading at gains of 1.63%, at Rs 271 per share.