Sensex arrests bear run
The Sensex, up by 4.43 points, closed marginally higher at 5,525.09 points. The Nifty lost 14.05 points to close at 1,749.35 points.

Counters
Bajaj Auto was down by 3.53 per cent at Rs 812.75
Emco Industries gained Rs 9.6 to close at Rs 123.5.
Larsen & Toubro rose over one per cent to Rs 559.
Hero Honda gained 6.58 per cent at Rs 479.70
HLL lost over 2 per cent to close at Rs 150.
CMC dipped by Rs 33.60 closing at Rs 538.
ONGC gained 5.84 per cent to close at Rs 834
Pricol closed marginally lower at Rs 522.
Balrampur Chini gained Rs 9.40 to close at Rs 297.
Mid- Day Multimedia gained 16.4 per cent to close at Rs 33.75.
Shrenuj & Co moved up by 5 per cent to Rs 34.70.
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StanChart enables access to global MFs
Mumbai: Standard Chartered Bank has launched `GlobeInvest', through which Indians can now invest in overseas mutual funds. This offering comes on the heels of RBI permitting Indians to invest up to $25,000 abroad. The minimum investible amount in the scheme will be Rs 2.26 lakh or $5000.

This can be paid in rupees, which the bank will convert and transfer to its overseas branches for investment in international funds. The bank says that it has tied up with companies like Franklin Templeton, Merrill Lynch and Morgan Stanley to offer 20-odd funds for investment. The bank also says that it conducts due diligence of the funds and ranks their performance before tying up with them.
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Birla Advantage Plan declares 25 per cent dividend
Mumbai: Birla Mutual Fund has declared a dividend of 25 per cent in the Birla Advantage Plan, the record date for which is March 12. According to a company press release the Birla Advantage Fund currently has Rs 490 crore of assets under management.
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JM Mutual Fund declares dividend
Mumbai: JM Mutual Fund has declared dividend on the JM Income Fund, JM G-Sec Regular and JM MIP Fund. According to a company press release it has also declared bonus on the JM Income Growth Plan and the JM G-Sec Growth Plan. The record date is March 14.
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Varun Shipping to list at Singapore
Mumbai: Varun Shipping Ltd. proposes to list its shares on the Singapore Stock Exchange, which may be done through an issue of Singapore Depository Receipts (SDRs).The company said that its board of directors had appointed a committee of directors to explore the possibility of issuing the SDRs.
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S&P is positive on ICICI Bank public issue
Mumbai: International rating agency, Standard & Poor's, has stated that ICICI Bank's proposed Rs 3,500 crore public issue will be a positive development, as the net proceeds from the proposed share issue are expected to enhance the bank's financial profile, in particular its capitalization position. Last week, the shareholders of ICICI Bank had given their approval to raise up to Rs 3,500 crore from the equity markets.
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