Life Insurance Corporation (LIC) of India announced that it has signed up a strategic contract with Punjab National Bank (PNB) to let bank’s clients to have access to various products offered by LIC.

The deal was signed in the company of LIC Chairman T. S. Vijayan and the bank’s Chairman and Managing Director K. C. Chakrabarty.

Thus far, LIC has signed deals with 31 banks via corporate agency model and with banks through referral model for developing banc assurance.

Rate two-way, holds gains and has inside range day overnight; stops seen above weekly highs around the 1.4250 area. Tests support on pullback and holds for now. Lows likely remain secure.

The USD continued to consolidate today reaching highs against the majors in early New York but failing to advance into key bullish levels. The majors recovered after the London fix rising off lows and in some pairs flirting with highs into the close. Today's PPI and Housing Data was benign helping to underpin the possibility that inflation is not a problem and housing is beginning to recover but more data will be needed according to most analysts. Aggressive traders are suggesting that a positive response for Wall Street today signals that investor confidence is beginning to turn positive from neutral or negative.

Bollywood producer Prakash Jha has joined hands with UTV Motion Pictures to co-produce his upcoming directorial venture ‘Rajneeti’.

The producer has also signed up a distribution deal with UTV for 'Rajneeti', which is scheduled to hit theatres during the first half of the coming year (2010).

UTV will distribute the movie all through the world.

Jha said, “With Bhopal as its backdrop and 5,000 trained actors from all over Madhya Pradesh working on the films landscape, Rajneeti is truly my most exciting and ambitious venture.”

After belling the day on a strong note at 8,956.30, up 92.48 points, the Sensex keep on extending its gains on the back of steady buying in metal, banking and realty stocks.

Buying interest has emerged across the board with realty, metal and banking stocks leading the gains.

BSE Midcap and Smallcap index gained 2.63% and 2.16% respectively.