Indian stock markets move higher

Indian stock market indices traded strong over the last two hours of trade on the back of heavy buying activity witnessed across index heavyweights.

Realty and Consumer Durable stocks witnessed maximum buying interest.

The BSE-Sensex is up by 135 points, while the NSE-Nifty is up by 37 points. BSE Mid Cap index and the BSE Small Cap index are up by 1.18% and 1.28% respectively. The rupee is trading at 49.05 to the US dollar.

Aluminium stocks are trading mixed with Hindalco trading in the green, while Nalco is trading in the red.

State run National Aluminium Company Limited (NALCO) has announced results for the quarter ended December 2012.

The company reported a 0.4% YoY increase in net sales and an 80% YoY decline in net profits.

Operating profits declined by 83.6% YoY on account of higher expenditure and lower LME (London Metal Exchange) aluminium prices.

The sharp drop in LME aluminium prices has made it unviable for several aluminium producers across the globe to operate, forcing them to partially shut down smelters.

For the nine months ended December 2011, net sales increased by 14.1% and net profits declined by 23.1% as compared to the same quarter previous year.

From: MSN News