Japan Airlines Corp.

Domestic News:

Japan Airlines Corp. is preparing for what may be the country’s sixth-largest bankruptcy as Prime Minister Yukio Hatoyama breaks with predecessors who bailed out the carrier three times in the past nine years. Already the biggest auto market and steel maker, China edged past Germany in 2009 to become the top exporter, yet another sign of its rapid rise and the spread of economic power from West to East. Total 2009 exports were more than $1.2 trillion. That was ahead of the 816 billion euros ($1.17 trillion) forecast for Germany by its foreign trade organization, BGA.
The first bank to fail in 2010 is Horizon Bank, based in Bellingham, Washington. State regulators seized the bank's 18 branches on Friday. But Horizon customers are protected. The Federal Deposit Insurance Corporation, which has insured bank deposits since the Great Depression, currently covers accounts up to $250,000. India’s steel consumption rose close to 8% during April-December 2009, compared to the same period last year. Rating agency, CARE has suggested that the government may begin withdrawal of the stimulus packages in phases from early 2010-2011. The country’s fastest growing education sector can attract USD 100 billion investment over the next five years. The finance ministry will soon appoint consultants to guide Canara Bank, Bank of Baroda, Bank of India through bank consolidation. Customs duty collection for the month of December 2009 stood at Rs.7399 crore, almost the same as in December 2008. Banks are cautiously increasing their focus on the retail segment after a period of going slow on this business.

Corporate news:

Natco Pharma is expected to launch cancer drug Albupax after the health ministry stayed an order issued by the DGCI which had stopped the Indian company from selling its drug. M&M group said that it would enter the motor-cycle segment this year with the launch of an in-house developed bike. Setco automotive is planning to invest Rs.100 crore over the next two years for setting up a plant for clutch units in Africa and for market development.

Technical news:

The first week of the year ends up by 34.45 points at a premium of 4.70 points adding OI by 12.3%. Nifty OI PCR in active options stood at 1.235 compared to 1.203 last week. Nifty VIX at 23.34 from 22.69 compared to the closing day in the previous expiry. 1.435 Crore Nifty puts was added over the week and Nifty calls added 1.084 Crore during the week. Highest OI in Nifty put at 5000 Jan strike and calls is at 5300 Jan strike. Long build up over the week seen in BOSCHLTD, CUMMINSIND, SCI, SIEMENS, NATIONALUM, FINANTECH,. MLL, CESC, HDIL, TATATEA, TITAN, TULIP, MRPL, ESSAROIL, JPASSOCIAT, MOSERBAER, EKC, PIRHEALTH, INDIAINFO, FEDERALBNK, CAIRN, ABAN, HCC, MTNL, TATACOMM, SUNPHARMA, STERLINBIO, TATAPOWER & UNITECH etc.
Short build up seen over the week in CROMPGREAV, HCLTECH, TCS, MARUTI, LITL, BPCL, BAJAJ-AUTO, SAIL, INDHOTEL, MPHASIS, DISHTV & TATAMOTORS etc. FII side saw short covering and long build up in Nifty futures short build up stock futures over the week. Nifty options was seen to be bought over the week.