MARKET EYE-SGX Nifty up on Cyprus deal, easing of FII rules in debt

Mon Mar 25, 2013 8:42am IST

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* Nifty futures on the Singapore Exchange rose 0.84
percent, while the MSCI-Asia Pacific index excluding Japan   
 is up 0.97 percent. 
* The euro and Asian shares rose on Monday after Cyprus did a
last-ditch deal with international lenders for a 10 billion euro
($13 billion) bailout hours before a deadline to avert a
financial collapse on the Mediterranean island. 
* Foreign investors sold 0.14 billion rupees of stocks, while
domestic institutions sold 1.35 billion rupees of stocks on
Friday, when the BSE index fell 0.3 percent.
* India will ease restrictions for foreign institutional
investors in federal and corporate bonds next month to attract
inflows and help fund a widening current account deficit,
Finance Minister P. Chidambaram said on Saturday.
 
* Analysts say easing rules for foreign investors in government
bonds and corporate bonds is a positive for Indian shares. Rate
sensitives and high-beta stocks such as State Bank of India
 are expected to gain.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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