Euro zone inflationary pressures rising but still subdued: EZFIG

The Eurozone Future Inflation Gauge ( EZFIG), published by the Economic Cycle Research Institute, rose to 92.3 in January from December's 91.7. 

Published a day after the European Central Bank left rates on hold despite inflation being well below its target of close to 2 per cent, the data will do little to allay fears about deflation in the 18-nation bloc. 

Euro zone inflation stabilised in the ECB's "danger zone" last month rather than falling as expected. 
"Euro zone inflation pressures, while having edged up, remain subdued," said Lakshman Achuthan, ECRI's chief operations officer. 

Inflation pressures in Spain jumped but they eased in Germany and Italy. 

European Union statistics office Eurostat estimated last week consumer prices rose an annual 0.8 per cent in February, the same rate as in January and December. 

Bharti Airtel shares gain after S&P upgrades rating

Shares of Bharti Airtel rise after Standard & Poor's Ratings Services upgrades the company's ratings, traders said.

S&P, late on Thursday, raised Bharti's long-term corporate credit rating to 'BBB-' from 'BB+'.

The rating agency says the upgrade reflects expectation that Bharti will use its significant free operating cash flows and funds from strategic measures to reduce its leverage to a level that is in line with an "intermediate" financial risk profile.

Bharti shares were trading 5.4 percent higher at 301.15 rupees as of 11.13 a.m.

Nifty hits 6500, Sensex surges over 300 pts;

Larsen and Toubro (L&T) shares are up 6 percent in morning trade to Rs 1206, after hitting a 52-week high of Rs 1221.80 earlier in the session. 

Brokerage house Citi has raised its target price for the stock to Rs 1305 from Rs 1137. "L&T looks set to grow sales 15% over FY14E-16E with stable margins. Domestic capex should rebound in early FY16E," it said. 

Nifty and Sensex scale fresh all time highs today. The Nifty has gained 7.5 percent since February13 with the Bank Nifty rising over 14 percent. The Sensex is up 310.03 points or 1.44 percent at 21823.90, and the Nifty is up 91.50 points or 1.43 percent at 6492.65. About 1227 shares have advanced, 1050 shares declined, and 102 shares are unchanged.  

The capital goods index is trading at a 15-month high today. ICICI Bank is up 8 percent while Axiz Bank gains 7 percent.  L&T, Bharti and SBI jump 5-6 percent. Wipro, TCS lose around 3 percent each with weakness in rupee. 

Equity market sentiment, strong FII flows and strength in the likes of the euro support the rupee. Gilts trade tad lower due to lack of buying support and participation.

 Asian markets are firm tracking gains in the US after jobless claims fell to a 3-month low. The US markets saw the S&P touch record highs on better-than-expected US jobless claims. The ECB's decision to keep interest rates unchanged is helping sentiment. Investors are eyeing the release of US non-farm payrolls data for February due later today.Currencies saw the dollar weaken as risk appetite improved globally with the euro surging and Asian currencies such as the Korean won, Malaysian ringgit rising.

Central Bank of India rises on selling its entire stake in CIBIL

Central Bank of India is currently trading at Rs. 46.65, up by 1.10 points or 2.41% from its previous closing of Rs. 45.55 on the BSE.

The scrip opened at Rs. 46.00 and has touched a high and low of Rs. 46.70 and Rs. 46.00 respectively. So far 43,000 shares were traded on the counter.The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 76.40 on 10-May-2013 and a 52 week low of Rs. 43.05 on 24-Feb-2014.

Last one week high and low of the scrip stood at Rs. 46.70 and Rs. 43.25 respectively. The current market cap of the company is Rs. 4,867.00 crore.The promoters holding in the company stood at 88.63% while Institutions and Non-Institutions held 7.02% and 4.35% respectively.

Central Bank of India has sold its entire stake in Credit Information Bureau of India (CIBIL) to Transunion International Inc (FII). The bank has taken this step after receiving the approval for the same.

Central Bank of India has been serving more than 3,50,00,000 account holders through its 4,400 branches, 6 extension counters, 29 Satellite offices, 1,970 ATMs and 2,413 ultra small branches (USBs).

FIIs mark biggest buy of Indian shares in 2 1/2 months, pump $1 bn in 15 days

Overseas investors bought Indian shares worth 12.73 billion rupees ($207.8 million) on Thursday as Indian equities scaled new peaks — 2,1513.87 for the BSE Sensex and 6,401.15 for the broader NSE Nifty, to mark their biggest daily purchase since Dec. 19, regulatory and exchange data show.

Foreign portfolio investors extended their buying streak to a 15th straight day totalling over $1 billion, helping BSE index rise to record high of 21,525.14 on Thursday.Traders say U.S. nonfarm payroll data due later in the day and India's inflation data next week would be key in deciding near-term direction.

They also bought Indian equity derivatives worth 26.28 billion rupees on Thursday, according to NSE data.Heavy institutional buying has helped Indian stocks to overcome worries including U.S. Federal reserve tapering, China slowdown and sticky inflation.

Dealers say apart from the undercurrent of a pre-election rally continued strong foreign flows are a testimony to markets like India being differentiated in the emerging markets space due to improving currency and narrowing current account deficit.

The benchmark BSE index has gained in the month before elections in each of the previous six elections, with the biggest advance coming in 2009 when the Congress-led UPA won a majority.