Stock trading turnover on the BSE amounted to 5,199 crore rupees while turnover on the National Stock market was 13,402 crore rupees.

Reliance Capital led the most active stocks with a turnover of 255.68 crore rupees. Reliance Energy, Reliance Natural Resources, GMR Infrastructure and Reliance Industries were the other most active stocks.

Of the BSE shares, Hindalco, Reliance Energy and ICICI Bank and Reliance Industries advanced.

Banks advanced on the hope that the Reserve Bank in India will lower interest rate after the rate cut in the U.S. Bank of India and State Bank of India gained on the expectations.

Reality and metal stocks closed higher.

India''s annualized wholesale price index marginally rose 3.83% for the week ending on January 12, 2008, from 3.8% a year ago during the similar period. Annual inflation rate was 6.2% during the comparative week in the previous year.

Of the BSE shares, Reliance Industries surged 4.8% to 2,609.55 rupees.

Hindalco Industries climbed 14.01% to 173.35 rupees, Reliance Energy soared 11.8% to 2030.25 rupees and Larsen & Toubro surged 10% to 3,890.4 rupees.

NTPC was up 9.1% to 222.25 rupees and Mahindra & Mahindra jumped 7.8% to 674.2 rupees.

Banking shares advanced ahead of the announcement of the Reserve Bank monetary policy statement next week on Tuesday. ICICI Bank surged 11.2% to 1,259.25 rupees.

State Bank of India rose 2.5% to 2,405 rupees after reporting 69.8% rise in net profit to 1,808.64 crore rupees and 33.1% increase in operating income to 1,5364 crore rupees in quarter 3 of December 2007 over quarter 3 December 2006.

Unitech surged 17.8% to 439 rupees, Indiabulls Real Estate soared 13.8% and DLF rose 5.9% to 945.1 rupees.

Among the metal stocks, Hindalco Industries soared 14% to 173.35 rupees while Tata Steel moved up 6.4% to 714.1 rupees. Sterlite Industries rose 4.9% to 786.75 rupees.

6:00AM New York, 6:00PM Hong Kong – Hong Kong stocks gain led the rally in the Asia on fiscal stimulus package in the U.S. Crude oil and metal prices rose.

Hong Kong stock indexes traded in positive territory after calm returned to the financial markets as the U.S. Congress and the Bush Administration agreed on the stimulus plan. Commodities, metals, and energy prices surged higher.

While investors pushed stocks higher in the wake of fiscal stimulus, lower interest rate in the U.S. is likely to weaken dollar and push up prices of metals and crude oil. The move by the U.S. could be inflationary in China, India, and most countries around the world.

In Hong Kong trading Hang Seng Index gained 6.7% or 1,583.10 to 25,122.37, declining 0.3% for the week, while the China Enterprises Index of H shares rose 8.4% or 1,082.55 at 14,015.75, falling 3.8% for the week.

Daily trading turnover on the main-board was HK$126.7 billion compared to HK$142.4 billion yesterday.

Xinhua News Agency reported today that Shanghai Mayor Han Zheng said today at the first annual session of the municipal’s People Congress that the city aims to increase its Gross Domestic Product to Rmb 2 trillion by 2012.

Zheng added that the city will consolidate its position as a global financial and logistics center.

In 2007 Shanghai’s GDP was recorded at Rmb 1.2 trillion or Rmb 65,000 per capita.