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- Indian Stock Market News December 21, 2011
Banking stocks drive the gains Wed, 21 Dec 11:30 am
Indian stock markets indices have been trading in the positive during last two hours of trade on back of buying interest across index heavyweights. All sectoral indices are trading in the green led by banking and consumer durables stocks.
The BSE-Sensex is trading up by 256 points and NSE-Nifty is trading firm by 72 points. BSE Mid Cap and BSE Small Cap indices are trading strong by 0.9% and 0.8% respectively. The rupee is trading at 52.75 to the US dollar.
Power stocks are trading in the green led by GVK Power and Infra and National Hydroelectric Power Corp. (NHPC Ltd). As per a leading financial daily, the power ministry has warned of coal shortages in the power plants. Coal India was able to supply only 192.5 m tonnes of coal during April-November as against the target of 221 m tonnes. The ministry stated that 26 of these plants have stocks of barely seven days available with them. Another 44 plants have stocks that would last 15 days. In the absence of coal, the amount of power generated has been quite low. For this, the ministry has asked for help from the Committee of Secretaries.
Auto stocks are trading firm today. Tata Motors and TVS Motors are leading the gains. As per a leading financial daily, Tata Motors is likely to raise the output for its trucks by up to 90,000 vehicles per year. The automobile company would target this from early 2012. The light commercial trucks are rolled out from its Pantnagar plant. This would raise the total production from the plant to 0.45 m vehicles. It may be noted that the company recorded 35% growth in the sales of its commercial vehicles last month.
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aijaz ahmmed aijaz
Dec 22, 2011stock market enters safety zone,it flashes a hope for stability.