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Jobless claims in the US declined to near a four-year low of 351,000 in January, which helped keep markets in the green despite some reports of a Saudi pipeline explosion. At the end of trade, however, US indices finished off their best levels. The Dow gained 0.2% to close at 12980; the S&P was up 0.6% at 1374.1 and the Nasdaq up 0.7%.

European markets too ended on a strong note, however gains were restricted due to US manufacture sector growth lower than expected at 52.4 in February. Key indices CAC DAX and the FTSE gained by 1-1.4%. Asian markets today morning opened firm.

Eurozone finance ministers say that Greece has met all the legal conditions, indicating that the debt-burdened country may get its second bailout package soon.

Back home, it was another day in the red as Indian equities failed to find firm footing. The Nifty slipped 45 points to end at 5339, while the Sensex lost 170 points.

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In other assets, the euro briefly dipped below 1.33 to the dollar yesterday but recovered by the end of trade. The dollar index was steady around 78.8.

From the commodity basket, crude prices surged nearly 5% overnight with Brent reaching its highest level since crude's record run in 2008. A late report out of Iran of a possible pipeline fire in top exporter Saudi Arabia pushed Brent close to USD 128 per barrel, but it recovered and is currently around USD 125.  Gold marginally recovered after yesterday's crash and is currently around USD 1723 per ounce.

Stocks in News

After a lot of initial confusion, the ONGC auction was finally declared a success after the Finance Minister stated that 98.3% was subscribed to and that the government has released Rs 12,766 crore via the auction.

Reliance Industries buyback is also on the radar, and reports suggest that the company has already nibbled Rs 50 crore in three weeks.

The Group of Ministers on coal allocation have cleared NTPC's plans to set up a 1,980 megawatt power project at North Karanpura in Jharkhand.

The government has filed a petition seeking clarity on the 2G spectrum auction timeline and modalities at the Supreme Court. A review petition is also on the cards and is expected to be filed today.

February auto sales numbers till now have been mixed. Hero Moto numbers come in higher than estimated, with total sales up 11% to 5.23 lakh units. Meanwhile, poor motorcycles sakes and a dip in exports hits TVS Motors.

In earnings action, Mphasis revenues and profit come in below expectations, however non-HP business showed strong growth.

ITC chief Deveshwar has pared down his stake in the company by selling 2.79 lakh shares for Rs 5.8 crore. His stake is now down to 0.022%.

The Economic Times reports that HCL Info has bagged the Aadhar contract worth Rs 2200 crore. TCS was also in race for the order.

The Financial Express reports that Hindustan Copper's FPO is likely to come on board in the first quarter of FY13. The company is expected divest 10% stake.

Anisha Mappat
anisha.mappat@moneycontrol.com