Sensex up over 46 points in early trade

banking and IT sectors leading the recovery.

The wide-based Nifty of the National Stock Exchange moved up by 11.55 points,or 0.20 per cent,to 5,862.75.

Brokers said emergence of buying by funds as well as retail investors at prevailing levels amid a mixed trend on other Asian bourses after US markets closed at new high yesterday,mainly buoyed the trading sentiment here.

They said,however,wholesale price-based inflation data for February,to be released later today,would be crucial ahead of RBI’s policy review next week.

In other Asian markets,Japan’s Nikkei index rose by 0.76 per cent,while Hong Kong’s Hang Seng shed 0.32 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.04 per cent higher yesterday.

Stocks to watch-March 14

(Reuters): Nifty futures on the Singapore Exchange is flat,while the MSCI-Asia Pacific index,excluding Japan,fell 0.59 percent.

Asian shares fell on Thursday with regional factors outweighing positive sentiment from another record Wall Street close.

U.S. stocks edged up on Wednesday,with the Dow rising for the ninth straight session to another record,buoyed by surprisingly strong retail sales that suggested the U.S. economy is gaining momentum.

FACTORS TO WATCH

Feb WPI (Reuters poll: +6.54 pct) (Around 0630 GMT)

FINANCIAL/REGULATORY

India’s stubbornly high inflation must come down to a 4 to 6 percent range,the country’s central bank chief said on Wednesday,noting full implementation of this year’s budget will have a “softening impact” on price growth. ENERGY/COMMODITIES

The Indian government is likely to scale back the size of the its planned auction of shares in National Aluminium Co Ltd ,two sources with direct knowledge of the matter said.

TELECOMS

Bahrain Telecommunications Co BSC is discussing a deal to buy a controlling stake in Reliance Globalcom,the enterprise business unit of Reliance Communications Ltd ,Times of India reported citing people directly aware of the talks.

India has asked the country’s top five telecommunication carriers to pay a combined 18.42 billion rupees ($339 million) in additional fees after a government audit found they had under-reported revenues over two financial years,a minister said,although the companies have disputed the demand.

RETAIL

The government does not plan to liberalise foreign direct investment norms in the retail sector.

AIRLINES

The head of aircraft finance giant International Lease Finance Corp urged India on Wednesday to release six passenger jets held “hostage” by a bureaucratic dispute after struggling Kingfisher Airlines failed to pay for them.