6:00 PM Mumbai, 8:30 AM New York – Stocks in Mumbai traded higher after foreign investor continue to pour new funds into stock market. 2009 new fund flows of $18 billion exceed the previous high of 2007. Hindustan Dorr-Oliver looks to expand in nuclear power plant business. INOX buys 43.2% stake in Fame India.

The Sensex index in India increased 332.61 or 2.06% to 16,496.05 and CNX Nifty index rose 101.75 or 2.11% to 4,931.85. Among the Sensex 30 stocks, 29 rose and 1 fell.

On BSE trading, 1,772 stocks advanced, 1,048 declined and 100 were unchanged.

Infinite Computer Solutions (India) closed at Rs 191.65, a premium of 16.20% over the initial public offer price of Rs 165.

The large follow-on public offer of state-run power generation firm NTPC was subscribed 70% on the first day of bidding. Majority of the bids were at Rs 209 per share.

The Reserve Bank of India said on Wednesday it had decided to withdraw a short-term foreign currency funding facility provided to non-banking financial and mortgage lenders today.

Metal, consumer durables, realty, banking and capital goods stocks rose. Reliance Industries pared earlier gains.

Rupee edged higher 10 paisa to 46.12 against one dollar.

Foreign investors in India invested 834.2 billion rupees or $18.5 billion surpassing the previous high of 750 billion rupees in 2007. Markets in India fell sharply in 2008 after foreign investors sold nearly $12 billion of stocks.

International investors have bough equities of more than 3.1 trillion rupees since 1993 or $70 billion at the current exchange rate according to the data published by Sebi.

Gainers & Losers

Balaji Amines Limited fell 1.7% to Rs 155.50 after the chemicals maker said board will meet on February 10 to consider setting up a hotel at Solapur, Maharashtra.

Bharat Electronics Limited climbed 2.8% to Rs 1,990.00 after the company secured an order valued at Rs 4,279 crore from the Indian Air Force for supply of an additional 750 Akash medium-range surface-to-air missiles.

Chembond Chemicals Limited increased 4.9% to Rs 246.50 and the company and H2O Innovation Inc announced a joint venture agreement to form a local subsidiary.

Haldyn Glass Gujarat Limited surged 9.9% to Rs 114.75 after the variety of glass bottles and containers makers fixed February 26 as record date for a 10-for-1 stock split.

Hindustan Dorr-Oliver Limited fell 1.1% to Rs 173.55 and the engineering and turnkey solutions provider altered its memorandum of association to expand into execution of nuclear power plants and allied activities.

INOX Leisure Limited surged 10.5% to Rs 84.70 after the multiplexes operator and film distributor announced that it has bought 43.28% equity stake in Fame India for Rs 66.48 crore.

Kabra Extrusion Technik Limited surged 15.3% to Rs 217.45 after the capital goods maker said that the board approved a proposal to upgrade and expand its existing manufacturing facilities located at Kachigam, Daman with an outlay of about Rs 85 crore.

Larsen & Toubro Limited increased 3.7% to Rs 1,448.00 after the technology, engineering, construction company received new orders of Rs 1,100 crore.

Steel Authority of India Limited advanced 3.5% to Rs 216.65 and the company raised prices of flat products by 500 rupees per ton, a company spokesman said on today.

Sterlite Industries (India) Limited climbed 5.1% to Rs 774.55 after the non-ferrous metals and mining company’s bauxite mining project in the Niyamgiri hills in eastern Orissa may be delayed after court documents revealed inconsistencies in the approval process.