American International Group Inc.

China’s yuan is facing increasing pressure to appreciate because of a widening interest-rate differential, the country’s top currency regulator said in a statement. American International Group Inc. said Monday that it will sell its American Life Insurance Co. division for $15.5 billion to MetLife Inc. The government-approved deal, AIG's second big asset sale in two weeks, will give the insurer more cash to repay the billions of bailout dollars it still owes the government. Strong overseas growth for McDonald's Corp. in February outweighed U.S. sales that barely nudged upward as the world's largest fast-food chain posted a 4.8 percent increase in sales at restaurants open at least a year. The month of February witnessed record car sales as consumers advanced vehicle purchase, anticipating a roll back in tax cuts that brought down car prices a year ago. BSNL has launched fresh tender for 50 million cellular lines. Bond yields touched 17 month high level of 8%. The Government is looking to reduce its holding in State Bank of India to 51%, which will allow the bank to raise up to Rs.20000 crore. Daimler is selling its 5.34% stake in Tata Motors to raise up to Rs.2000 crore. Sequoia may pick up 9.4% stake in CARE. UK’s Independent News has divested 7.5% stake in Jagran Prakashan.
The Ruias are planning to list Essar Energy on London Stock Exchange to raise around Rs.37000 crore. Exide Industries plans to raise about Rs.540 crore by selling five crore equity shares to QIBs. Suzuki has raised stake in Maruti by 0.8% through secondary market route. NMDC has announced a price band in the range of Rs.300-350.
Larsen & Toubro plans to generate 5000Mw of coal-based power by March 2015 and also achieve financial closure for another 5000MW. Nagarjuna Construction has bagged orders worth Rs.1221 crore. Man Industries has bagged Rs.950 crore order from Kuwait. Future Group is planning to apply private labels outside the group’s 1000 outlets. Nifty March contracts ends the Day up by 29.95 points at a discount of 6.50 points adding OI by 2.3% with indications of short build up. Nifty OI PCR at 1.345 compared to 1.316 at the close of last Day. Nifty puts sees addition of 33.09 lakhs and calls sees addition of 14.412 Lakhs over the Day. Highest OI in Nifty calls seen at 5100 March strike and puts at 5000 March strike. Nifty VIX at 20.73 from 20.74 last Day. Long build up seen in GODREJIND, ALBK, MCLEODRUSS, ABB, PATNI, ESSAROIL, ABAN, STERLINBIO, ITC, HEROHONDA, SIEMENS, BHARATFORG, TRIVENI & M&M during the day. Short build up seen in HINDUNILVR, RANBAXY, TECHM, UNITECH, MPHASIS, BHARTIARTL, RELINFRA, DCHL & UNIONBANK during the day. FII side over the Day saws short covering and marginal long build up in Nifty futures and long build up in stock futures with addition in Nifty options.

Outlook:

Nifty VIX at lowest levels and Nifty OI PCR is continuing the rise as more puts is seen to be bought. Short build up was seen in Nifty during the session. Supports seen at 5080-5100 levels and resistance seen at 5150-60 levels in Nifty near contracts for the day.