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Realty stocks lead the gains
Fri, 30 Mar 11:30 am

Indian stock markets have been trading strong during last two hours of trade on sustained buying in index heavyweights. All sectoral indices are trading in the green led by realty and metal stocks.

The BSE-Sensex is trading up by 230 points and NSE-Nifty is trading up by 75 points. BSE Mid Cap and BSE Small Cap indices are trading up by 1.3% each. The rupee is trading at 51.19 to the US dollar.

Auto stocks are trading in the green led by TVS Motors and Force Motors. According to a leading financial daily, sales of commercial vehicles are growing at the fastest rate in India among all countries of the world. India has been the fastest growing truck and bus market for past two years. The sales grew by 22% in 2011 YoY surpassing its arch rival China too. During 2001, China saw a dip of 10% YoY in sales of commercial vehicles. In both the countries (India and China), commercial vehicles range from light commercial vehicles (LCVs) to intermediate segments as well as heavy multi-axle trucks. US on the other hand saw a growth of 13% YoY for commercial vehicle sales during the same year. This signals some revival in the global automotive market.

Energy stocks are trading in the green led by Hindustan Petroleum Corporation Limited (HPCL) and GAIL. As per a leading daily, Oil and Natural Gas Corporation (ONGC) has been awarded 6 blocks by Ministry of Petroleum and Natural Gas, Government of India under New Exploration Licensing Policy (NELP) IX. Four blocks have been obtained as operator and the remaining two as minority partner. However, bids for five deep sea blocks have been rejected. The government has awarded 16 blocks out of the 33 oil and gas blocks under NELP IX. The blocks on offer were 8 deep water blocks, 7 shallow water blocks, 11 on-land blocks and 8 Type-S on-land blocks.

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