GLOBAL MARKETS ROUNDUP
The S&P BSE Sensex surged as much as 119 points in trade on Wednesday to reclaim its crucial psychological level of 28000, led by gains in L&T, RIL, Maruti Suzuki, TCS and ONGC.India cbank says repo bids rise to 28.62 bln rupees.Indian banks' refinancing with RBI unchanged at 24.56 bln rupees.India cbank says banks' cash balances rise to 3.60 trln rupees.

INDIAN ADR’S NEWS
• Indian ADRs ended mixed on Tuesday.
• In the banking space, ICICI Bank declined 0.14 percent at USD 10.33.
• HDFC Bank shed 0.10 percent at USD 61.86.
• In the IT space, Infosys was up 0.04 percent at USD 15.58.
• Wipro added 0.07 percent at USD12.17.
• In the other sectors, Tata Motors slipped 0.92 percent at USD 30.74.
• Dr Reddy’s Laboratories gained 0.45 percent at USD 60.10.


INDIAN MARKET NEWS
The market has opened in green territory. The Sensex is up 54.63 points at 27987.53 and the Nifty is up 9.30 points at 8463.40. About 468 shares have advanced, 100 shares declined, and 61 shares are unchanged. ONGC, Hero MotoCorp, Lupin, Coal India and Maruti are top gainers in the Sensex. Among the losers are BHEL, HDFC twins, Hindalco and Bharti Airtel.

Bank of America Merrill Lynch has maintained its buy call on State Bank of India for target price of Rs 375 per share. BoFAML says that the bank is well positioned to capitalize on the macro uptick and on the asset quality concerns worst seems to be behind SBI. Risk reward still seems very positive.

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