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Indian stock markets continue in the green
Thu, 12 Apr 01:30 pm

Indian stock markets continued to trade in the green in the last two hours of trade. Amongst the sectoral indices, Banking and FMCG were the biggest gainers while IT and healthcare were trading the weakest.

The BSE-Sensex is trading up 126 points and NSE-Nifty is trading up by 42 points. BSE Mid Cap and BSE Small Cap indices are trading up by .71% and 0.86% respectively. The rupee is trading at 51.46 to the US dollar.

Cement stocks are trading mixed with ACC Ltd. and Prism Cement leading the gainers and Ultratech Cement and Samruddhi Cement trading the weakest. There has been a peculation in the market that Competition Commission of India's (CCI) ruling on cartelization by these companies will be announced soon. The ruling is expected to involve huge penalties and as a result, the cement companies could be forced to cut down prices.CCI completed the hearing regarding this last month against 40 cement companies.

As per a leading financial data, Index of Industrial Production (IIP) for the month of February 2012 grew by a faster 4.1% as compared to a revised growth of 1.1% clocked in the preceding month. The IIP growth rate for January has been revised down sharply from 6.8% to 1.1% on account error in compilation of the sugar production data. The aggregate factory output during the period April-February 2012 was up by 3.5% on the back of 3.7% growth in manufacturing and 8.7% rise in electricity generation. The mining output contracted by 2.1% over the same period.

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