Asian stock markets have opened the day on a mixed note. Stock markets in South Korea (up 0.3%), Indonesia (up 0.3%) and Singapore (up 0.2%) are in the green while China (down 0.3%), Hong Kong (down 0.2%) and Japan (down 0.1%) are in the red. The Indian stock market have opened the day on a firm note. Stocks in the Metal and Realty space are leading the gains. However, Information Technology
stocks are facing selling pressure.
The BSE-Sensex is trading up by 100 points (0.7%) and the NSE-Nifty is up by around 33 points (0.7%). Mid cap and small cap stocks are trading in the green, with the BSE Mid Cap and BSE Small Cap indices up by 0.3% and 0.2% respectively. The rupee is trading at 52.06 to the US dollar.
Auto Stocks have opened the day on a firm note with Tata Motors and Maruti Suzuki in the green. In order to increase sales, Tata Motors will give a facelift to its small car Nano. The new car will come with better engine and additional features. The interesting part is that the company does not intend to increase prices. The company said that the car's 624cc engine will be made more powerful which will deliver a 38 PS of power (earlier 35 PS). Despite delivering more power and torque, the car will become more fuel efficient. The mileage will increase to 25 kms from 23 kms per litre. Tata Nano will also have the lowest CO2 (carbon dioxide) emissions as compared to all other cars in India.
Oil & gas stocks have opened the day on a firm note with Cairn India and Oil India trading in the green. State-owned Oil & Natural Gas Corporation (ONGC) is set to start producing electricity from its first mega major power project in India from April 2012. The project is being commissioned in Palatana, which is located in the southern part of the north-eastern state of Tripura. The Rs 90 bn gas-based thermal power project will have a power generating capacity of 726 megawatts (MW). It is expected that this project will ease the electricity crisis in the states of Tripura, Assam, Meghalaya, Manipur, Nagaland and Mizoram.