Metal stocks shine
Mumbai: With the benchmark international prices of metals such as aluminium and copper touching new highs, the market appears to be riding the crest of `metal' success. Metal stocks such as Hindalco, Nalco, Sterlite and Tata Steel have all been gaining strength on the bourses, backed by the perception that the current global demand-supply scenario for metals favours the industry right now.

While demand for these commodities is largely driven by the South-East Asian economies, especially China, a recovery in the US economy will provide a shot in the arm for the metal industry, Hanu Bhatia, vice-president, equities, Parag Parikh Securities, said.

However, even if the US economy were not to show aggressive signs of recovery, there is expectation that the money will flow into other avenues like gold, metals, or emerging markets.
One of the key drivers for the stock prices of Hindalco and Nalco has been the international aluminium price, which is currently ruling at $1,502 per tonne.
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Foreign buyers see fortune in oil stocks
Mumbai: Institutional investors were on Tuesday seen shopping at the counters of oil PSUs, especially that of ONGC. According to dealers, even though they were buying HPCL, BPCL, IOC and MRPL too, ONGC was a clear favourite. An earlier speculation of a big dividend has now given way to rumours of a bonus issue. The stock closed at Rs 625.70, up 2.67 per cent on the NSE compared to its previous of Rs 609.45. The NSE and BSE together saw trades of more than 15 lakh shares.
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Indo Rama gets a domestic buyer
Mumbai: The stock of Indo Rama Synthetics had a strong buyer on Tuesday. According to dealers, a large domestic mutual fund has been accumulating shares at the counter. They said the fund normally has an appetite for a few lakh shares. The stock closed at Rs 94.20, 10.30 per cent higher than its previous close on the NSE. While about 5 lakh shares got traded on the BSE, the volume was more than double on the NSE.
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Satyam Computer on a year-high on FII buying
Kolkata: The Satyam Computer Services stock on Tuesday moved up to a 52-week high of Rs 341.40 on the NSE and Rs 340.45 on the BSE on the back of FII buying. Some 2.54 crore shares were traded on the NSE. According to the dealers, Goldman Sachs is understood to be picking up the stock for some time, primarily through Kotak Securities. Capital International is also said to be accumulating the stock.
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Rupee a bit lower
Mumbai: The rupee ended marginally weaker against the dollar on Tuesday at 45.31/3150, as compared to its closing at 45.3050/3150 on Monday.
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