US closed positive, Asian Markets as good followers are doing what they were supposed to do. And Indian markets being different will open higher
That said, here is the some of the important news items
MoneyControl
Sensex could bottom out around 16K levels: ExpertsBusiness Standard
Maintain a range in mkts for next 3-6 months: Kotak Sec
Direct tax rate cut may spur mkts: ICICI Pru Life
Fed may cut rates by 50 bps in March: JP Morgan
Mkts to be rangebound till Budget: Dipan Mehta
Rupee falls to 40/$ mark, tech stocks gain
Wall St rallies led by technology stocks
SBI, Canara cut rates again
FII-TO-FII TRADES: SBI traded at 12% premium
FIIs net sell Rs 266cr, DIIs net buy Rs 256cr
Economic Times
Lack of confidence keep markets in red
Global cues may have been the trigger, but the underlying uncertainty kept markets in the red.
Recently listed stocks fall below offer price
Many recent offerings which listed at premiums are now trading at a discount to their offer prices
Nano trial production at Singur to start by July
Tata Motors MD Ravi Kant said within two months of trial production, commercial production of the car would begin in the second half of FY-09
The Financial Express
REL bags Mumbai sea-link project
The Anil Ambani-controlled Reliance Energy Ltd has outbid Mukesh Ambani-run Reliance Industries Ltd for the Rs 4,000-crore Mumbai Trans Harbour Project. The Maharashtra State Road Development Corporation selected the REL-Hyundai consortium, which quoted a concession period of 9 years 11 months, over the RIL-promoted SKIL Infrastructure-IL&FS-John Laing consortium's 75 years
Tata Steel puts Corus integration on the fast track
Tata Steel and Corus, which revved up their integration plan, have already started discovering the benefits in several areas of research and steel-making
Rupee falls to 5-month low; bonds fall most in 3 wks
The rupee fell for a fourth day, its longest losing streak since November, on speculation the currency's decline prompted companies to increase purchases of foreign currency needed to pay for imports.
Sify
Low demand, high fuel prices ground airline profits
When the air traffic in December (Christmas and New Year traffic) saw the lowest growth over the last few years of around 15 per cent, airlines were more than taken aback
P-note restriction puts SEBI in driver's seat
The former Securities and Exchange Board of India (SEBI) chairman M Damodaran, in his own inimitable style, once explained how things get done in India with the analogy of the booming aviation sector
1% brokers tot up 80% of turnover
Reuters
Wall Street rallies on optimism about rate cuts
Stocks rose on Wednesday as a strong profit outlook from Hewlett-Packard Co lifted technology shares and the Federal Reserve signaled its intention to keep cutting rates.
Fed cuts growth forecast on housing, credit strain
The Federal Reserve said on Wednesday it had lowered its growth forecast for 2008 to between 1.3 percent and 2 percent due to the deepening housing contraction and tight credit, and said risks of further setbacks are troubling
Wal-Mart to source more IT activities from India
Wal-Mart Stores Inc said on Wednesday it would increase technology activities in India, as it seeks to expand its remote sourcing model.
CNN
Stocks stage rally
Stocks jumped Wednesday as investors welcomed the Federal Reserve's stance that the economy can avoid a recession, despite slower growth, rising unemployment and more pricing pressures
Oil surges to record above $101
Oil prices blew past the previous intraday record Wednesday, topping $101 a barrel as traders ignored signs of a faltering economy and focused on higher stock prices and the risk of inflation
Channel NewsAsia
Wall Street shrugs off record oil prices
US stock markets ended higher on Wednesday as investors snapped up bargain-priced shares and appeared to shrug off a jump in oil prices to a record high above 101 dollars a barrel, traders said.
Oil prices hit record US$101.27
New York oil prices struck a record 101.27 dollars a barrel on Wednesday amid renewed global supply jitters, analysts said.
Fed slashes half point off 2008 US economic growth forecast
The Federal Reserve on Wednesday slashed its 2008 growth forecast for the US economy by a half percentage point to a rate between 1.3 to 2.0 percent, citing the housing slump, tight credit and higher oil prices
RK
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