UPDATE FOR FEB 11

Media reports of the finance ministry is drafting

a proposal toremove the securities transaction

tax (STT) and news that theCentre has eased some

foreign direct investment (FDI) normstriggered a

solid rebound on the bourses in late trade. Despite

thesharp intraday recovery, the key benchmark

indices ended slightlylower, ending three-day

winning streak.The BSE 30-share Sensex fell28.93

points or 0.30%, recovering 158.95 points from the

day's low. The market bounced back after a near 2%

slide in early trade causedby investors concern that

a revamped plan by the United States toshore up banks

may not be enough to alleviate the credit crisis.The

market breadth turned positive in late trade,

reversing earlyweakness. US index futures which

indicated the Dow could rise 44points at the opening bell

on Wednesday, also aided the rebound on the domestic bourses.