Commodity Online
MUMBAI: Stock markets rallied after the mid-session with oil & gas and metal stocks trading firm on the bourses. The industrial production figures drew a negative picture, but the markets remained unaffected of it.

The government released the IIP figures for March during the day, which stood at -2.3% as against -0.7 in February. Index of industrial production (IIP) for the financial year 2009 stood at 2.4% as compared to 8.5% in FY 2008. Infrastructure growth stood at 2.9% in March against 2.2% in February. Cement, Steel and automobiles too posted healthy numbers during the period.



The benchmark index, Sensex gained momentum post IIP figures, as the index traded with a gain of close to 2.5% at 11,971 points. Similarly, Nifty too traded with gains of over 2% at 3630 points. Major gainers include Metals, Banking, IT and oil & gas stocks.

Sectoral index, BSE metals traded at 7895 with a gain of over 1%, while oil & gas index was trading at 8503 with a gain of over 2% during the afternoon trading session.

In the IIP figures, capital goods output was down 8.2%, manufacturing output was down 3.3%, mining output up 0.4%, electricity output up 6.3%, consumer goods output was down 0.8%, consumer durable goods was up 8.3% and consumer non-durable goods were down 3.6%.

Heavyweight stocks including Reliance Industries Ltd (RIL) traded with gains of over 3% at Rs.1919 Similarly, DLF Ltd was up over 4% at Rs.238 during the post afternoon trading session on the BSE.

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