SENSEX bounced back

• The market has made splendid recovery and is now trading firmly in the green. Sensex is trading at 17605, up 133 points from its previous close, and Nifty is at 5281, up 36 points. (12.08 pm).
• Japan’s Nikkei average fell 1.9 percent on Thursday, with market players saying a weaker futures market and the break of a closely-watched technical level helped trigger long liquidation after the previous day’s rally.
• FTSE 100 index sheds 0.9 percent.
• SBI jumps as much as 5.7 pct, Reliance gains nearly 3 pct.
• Most Asian markets in red, India food inflation ticks up.
• The government may issue a new benchmark 10-year bonds by end-May or early-June to enable adequate time for the government to repay the loan, bond market dealers and analysts said.
• The Reserve Bank of India on Tuesday raised key interest rates by 25 basis points and said further rises were likely as it moves to return monetary policy towards pre-crisis settings and battles near double-digit inflation.
• The global economy is recovering from recession more quickly than expected but rescue efforts have worsened public finances, and if not reined in, will lead to a “debt explosion,” the IMF said on Wednesday.
• A joint mission to inspect Greece’s economic situation by officials of the European Union and International Monetary Fund could last two to three weeks, an EU source said on Thursday.
• The Reserve Bank of India governor backed U.S. arguments for a stronger Chinese yuan, ahead of a meeting of the Group of 20 nations this week, reports said on Thursday.
• The Reserve Bank of India (RBI) is looking to reverse its expansionary monetary policy stance over a period of time and cannot be certain that the reverse repo rate will remain its operative rate, its governor said on Wednesday.
• The Reserve Bank of India (RBI) is yet to take a decision on deregulating the saving bank deposit rate, but there are concerns it may destabilise the system, a RBI governor told reporters on Wednesday.
• Developing countries will this week demand a louder voice at the World Bank and the IMF, now that they are contributing more funds and it’s a euro zone country, Greece, that is in need of a rescue plan.
• Indian shares provisionally closed 0.41 percent higher on Thursday, with Reliance Industries  and State Bank of India  leading the gains.The main 30-share BSE index .BSESN provisionally gained 72.09 points to 17,544.65 points.The 50-share NSE index .NSEI provisionally rose 0.3 percent to 5,260.45 points. (4:03 pm).

indian shares slip

• Pause after nine straight week of gains.
• Sentiment hit by SEBI vs IRDA tussle.
• Reliance gains after signing Atlas JV.
• Financials dip on fears of likely monetary tightening.
• India’s main share index slipped 0.1 percent on Monday, taking a breather after its ninth straight week of gains, while sentiment was also impacted by a row between regulators over an insurance product linked to the stock market.
• The BSE Capital Goods index declined over 1%. Breadth was bullish – out of over 2,965 scrips traded, over 1,580 logged gains.
• Tata Motors declined over 3% to Rs 783.L&T was down over 2% at Rs 1,608.
• M&M, Sterlite, NTPC, Tata Power and RCom also declined.
• Hero Honda gained 1% at Rs 2,087. Sun, HUL, ITC, Reliance and TCS also closed with gains.
• Late on Friday, market regulator the Securities and Exchange Board of India (SEBI) said it barred 14 life insurance companies from issuing unit-linked insurance products (ULIPs) with immediate effect.
• Total market turnover (BSE+NSE)  today was nearly Rs 83,000 crore. Debutant Intra Soft was the most active counter on the BSE with a turnover of Rs 262 crore followed by ARSS Infra (Rs 84 crore) and Sesa Goa (Rs 73 crore).
• Essar Group, seeking to buy three refineries from Royal Dutch Shell Plc, may raise $2.5 billion in London’s biggest initial public offering since 2006 to fund the expansion of its power and oil businesses.
• Euro zone finance ministers approved a giant 30-billion-euro ($40 billion) emergency aid mechanism for debt-plagued Greece on Sunday, but stressed Athens had not requested the plan be activated yet.
• “It has been decided to permit FIIs to offer domestic government Securities (the current limit being $5 billion), and foreign sovereign securities with AAA rating as collateral to the recognised stock exchanges, in addition to cash, for their transactions in the cash segment of the market,” RBI said in a statement.
• Core inflation, excluding food and fuel prices, is around 5.5 percent currently, Kaushik Basu, chief economic adviser in the finance ministry, told reporters.
• Gautam Shah, CMT and VP, JM Financial Services, says a correction can set in any time, and the Sensex would find the next resistance at the 18,000-level.
• Prime Minister Manmohan Singh today said India was poised to achieve 9-10% economic growth but for this it required protection-free international climate.

• The recovery in the global job market will lag that of the world economy by around 18 months, World Trade Organization Director-General Pascal Lamy said on Monday.
• Deflation is the only way Greece can effectively tackle its debt problems, International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn was quoted as saying on Monday.
• China’s banking regulator told lenders to reassess their risk exposures and submit reports by the end of June as officials try to prevent the nation’s credit boom from leading to more bad loans.
• China’s trade deficit is likely to be only temporary and surging import costs may fuel inflation, bolstering the case for a stronger yuan.
• Infosys is likely to report a 0.7% increase in net profit for the fourth quarter ended March 31, 2010, at Rs 1594 crore from Rs 1582 crore in the previous quarter, according to Bloomberg UTV Estimates.
• Indian BPOs have started planning to hire more locals in their US centres. They say they will begin to hire a significant number of locals from this year…
• A pick-up in global technology spending in 2010 will bolster the toplines of Indian outsourcers that get most of their revenue from exports, but a strengthening rupee and rising wages pose risks to profit margins.
• Indian telecom firms bidding in the government’s much-awaited auction of third-generation (3G) mobile spectrum may find their capital structures under pressure because of the large borrowings, CRISIL said in a note on Friday.
• The Finance ministry is likely to discuss on Monday a tussle between two regulatory bodies over an insurance product linked to the stock market, the Economic Times said.
• Addressing the nation on the Right to Education Act that come into force today, Singh said: “The government is committed to ensuring that all children, irrespective of gender and social category, have access to education, and fund constraints would not be allowed to hamper implementation of the Right to Education Act.”
• India’s industrial output grew less than expected in February, suggesting that a recent surge in production was beginning to ebb, but rising inflation kept markets betting on another interest rate rise next week.
• The Congress party-led government may postpone key reform bills including a nuclear liability bill to ensure support for the budget as it faces an emboldened opposition when parliament reconvenes on Thursday.
• India’s top real estate firms, DLF Ltd and Unitech Ltd may revive their Singapore IPO plans, banking sources said, while the Embassy Group is actively looking into raising funds in the city state.