|Chennai||Rs. 28730.00 (1.13%)|
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* Dell looking into various takeover proposals, shares rise
* S&P 500 about 0.5 pct from closing record
* Futures up: Dow 38 pts, S&P 6 pts, Nasdaq 16 pts
NEW YORK, March 25 (Reuters) - U.S. stock index futures rose on Monday after a deal to avert a financial meltdown in Cyprus, and its possible exit from the euro, zone was reached overnight.
* The deal between Cyprus and heads of the European Union, the European Central Bank and the International Monetary Fund will spare the Mediterranean island a financial meltdown by winding down the largely state-owned Popular Bank of Cyprus and shifting deposits below 100,000 euros to the Bank of Cyprus to create a "good bank".
* A lack of market-moving economic news in the United States on Monday will likely keep investors focused on developments in and regarding Cyprus.
* S&P 500 futures rose 6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 38 points, and Nasdaq 100 futures added 16 points.
* The rise in futures sets the S&P 500 index up to make a new run at its record high. The benchmark closed down 0.2 percent for the week last Friday, only its second negative week of the year. After closing at 1,556.89, it is just a little more than 0.5 percent away from breaking its record of 1,565.15 set in October 2007.
* A special committee of Dell Inc's board is evaluating separate takeover proposals from Blackstone Group and billionaire investor Carl Icahn to decide whether either or both are likely to trump an existing $24.4 billion take-private deal, a source familiar with the discussions said on Sunday. Dell shares rose 3.2 percent in light premarket trading.
* Bank of America Corp Chief Executive Brian Moynihan will need to hold shares likely worth millions of dollars for at least a year after he retires, under a new compensation policy that the bank instituted following investor pressure. The bank's shares edged up 1.6 percent in light premarket trading.