Oil & Gas stocks lead the rally - Equitymaster.com

Indian stock market indices continued to trade strong over the last two hours of trade. All sectoral indices are trading in the green. PSU and Oil and gas stocks are witnessing maximum buying interest.

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The BSE-Sensex is up by 159 points and NSE-Nifty is up by 40 points at the moment. BSE Mid Cap and BSE Small Cap indices are up by 0.23% and 0.26% respectively. The rupee is trading at 47.41 to the US dollar.

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Steel stocks are trading firm. All stocks in the sectoral index are trading in the green except for Nalco which is trading in the red. According to a leading financial daily, Tata Steel has received an order worth US$ 70 m to supply 84,000 tonne rail, each measuring 108 meters long for a new high speed track connecting the two French cities of Bordeaux and Tours. The longer rails will also reduce maintenance cost. The steel required for the project would be manufactured in Scunthorpe facility in the UK, before being rolled into rail at its Hayange mill in North-East France. The company will also supply switches and crossings to the construction consortium for the project. The delivery is expected to start from 2014. The company is also embarking upon a five-year improvement programme for its Ijmuiden steelworks plant in the Netherlands, which will entail an investment of US$ 1.1 bn.

Oil & Gas stocks lead the rally - Equitymaster.com