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Mumbai, Sep 10 - key indices of Indian stock markets surged by almost three percent and the rupee showed strong recovery as concerns over tensions in Syria eased and the government indicated that trade deficit had narrowed in August.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened sharply higher at 19,448.39 points, was ruling at 19,784.69 at trading around noon, up 2.67 percent or 514.63 points from its previous close at 19,270.06 points.

The benchmark Sensex surged to a high of 19,827.15 points in the intra-day trade.

In a bid bring better coordination among all the financial regulators for resolving the multi-crore NSEL payment crisis, the Union Finance Ministry has taken over the Forward Markets Commission (FMC).

By taking over the FMC, the finance ministry has brought all the financial sector regulators like SEBI, RBI, PFRDA and IRDA under one umbrella.

The FMC will now work under the union finance ministry's Economic Affairs Department.

Jaguar Land Rover (JLR), a unit of India's Tata Motors, has indicated that it is planning to create 1,700 jobs at its plant in Solihull under an expansion plan that involves an investment of around £1.5 billion.

The investment will be made to develop new designing systems allowing the luxury car makers to make chassis of future models from aluminium. The first such car would be a mid-sized sports saloon car that will be launched in
2015. JLR chief executive Ralf Speth had first announced the plans at the Frankfurt Motor Show.

The financial authorities in the UK have imposed a fine of £14million and have issued a severe reprimand against Deloitte not managing its conflicts of interest when advising MG Rover and its owners.

Government-run hydro power producer NHPC Ltd has confirmed its decision to slash its capital expenditure plan for the current Five-Year (2012-17) Plan by 31 per cent.

The power producer said that it decided to spend Rs 20,000 crore on increasing its capacity during the five year plan period ending in March 2017, as against previously planned Rs 29,000 crore.

A senior executive from NHPC said that the company was concerned over the delays in the ongoing projects.

Mustard settled down -0.92% at 3566 due to strong kharif oilseeds sowing progres