European Union leaders are failing to persuade bond investors that Greece can fix its budget.

European Union leaders are failing to persuade bond investors that Greece can fix its budget. The yield on Greece two-year notes have remained above 5 percent, the highest in the euro zone, even after officials urged the nation this week to reduce its deficit. Goldman Sachs Group Inc. managed $15 billion of bond sales for Greece after arranging a currency swap that allowed the government to hide the extent of its deficit. The dollar rose for a second day against the euro as signs the U.S. economy is gaining momentum fueled speculation the Federal Reserve is moving closer to withdrawing stimulus measures. The U.S. will open an investigation Thursday to probe possible steering issues on about 500,000 Toyota Corollas. According to a National Highway Traffic Safety Administration official, about 363,000 Corollas from model year 2009 and 136,000 from 2010 could be affected. Computer and printer maker Hewlett-Packard said its quarterly results beat Wall Street's expectations as both businesses and consumers got back into IT spending during the holiday period. The Finance Ministry has advocated an increase in fuel prices only after the Budget.
The Indian textile industry is all set to witness a recovery in 2010, barring cotton textile exporters who may face another challenging year, according to global rating agency Fitch. The government has removed cap on the number of players who can participate in financial bidding for port expansion projects under public private partnership (PPP). India's economy is poised to grow by 7.5 per cent this fiscal and will top 8.5 per cent in the next, on the back of a strong industrial recovery, according to Finance Minister Pranab Mukherjee. The government has said that it is confident food prices will start easing from April when the rabi harvest hits the market. Real estate players plan to raise $5.7 billion, over the next 18 months, through public offer and private placement of shares to fund projects and repay debts, according to property consultant Jones Lang LaSalle Meghraj (JLLM). Global investors have cut their exposure to India this month on the fear that the government may not be able to deliver on its fiscal consolidation agenda. Sugar mills in Uttar Pradesh and Uttarakhand have decided to reduce the price paid to farmers for sugarcane by nearly 8% in view of the sharp fall of 15% in sugar realization over the last fortnight. NMDC is looking at clocking Rs 30,000 crore turnover by 2014-15--when its various projects worth Rs 26,000 crore would become operational. Oil and Natural Gas Corp (ONGC) and partners Indian Oil Corp (IOC) and Oil India Ltd (OIL) will invest around $2.25 billion initially, in development of a giant oil project they bagged in Venezuela last week. The government has offered all help possible to enable Bharti Airtel see through the acquisition of Kuwait-based Zain's telecom operations in Africa. Areva T&D India has been awarded a Rs 120 crore contract for electrical Balance of Plant (eBOP) by L&T Power for state utility, Madhya Pradesh Power Generating Company Ltd. RIL needs to put atleast $15 bn to stay in the race for LyondellBasell. India's REC sets FPO base price at 203 rupees a share. India is a step away from banning foreign investment in tobacco, which will prevent players like Japan Tobacco, BAT and Altria to enter India, leaving ITC to dominate the growing cigarette market in India. JK Lakshmi to raise Rs. 600 cr via external commercial borrowings and rupee term loans to part finance the Rs. 1550 cr greenfield projects in the northern and eastern parts of the country.
Ashok Leyland to enter construction equipment business in a joint venture with John Deere. Nifty near contracts ends the day up by 41.55 points at discount of 7.25 points paring OI by 2.0%. Nifty OI PCR at 1.095 compared to 1.094 yesterday. Nifty puts sees addition of 8.93 Lakhs and calls sees addition of 7.8 Lakhs over the day.
Highest OI in Nifty calls seen at 5000 Feb strike and puts at 4700 Feb strike.
4900, 4500 & 5000 Feb & 4800 March strike Nifty Puts saw addition in OI during the day. 4800, 4700, 4400 & 4300 Feb strike Nifty puts saw paring of OI during the day.
5000 & 5100 Feb strike Nifty calls & 4800 & 5300 March strike Nifty calls saw addition of OI during the day. Nifty VIX at 29.04 from 28.73 last day. Long build up seen in BHUSANSTL, ABAN, TITAN, AXISBANK, MCDOWELL-N, HINDALCO, BAJAJ-AUTO, HDFCBANK, MOSERBAER & SCI. Short build up seen in IBREALEST, BHARATFORG, CESC & PANTALOONR etc. Long liquidation seen in EDUCOMP, RENUKA, UNIPHOS, DIVISLAB, SAIL & HINDZINC etc. FII side sees short covering in Nifty futures Nifty options was seen to be written. Short covering was seen in stock futures during the day. Nifty futures activity is indicating long liquidation during the session. Range bound moves are indicated with scrip specific activity during the day. Upside resistance seen in Nifty near contracts around 4950-60 levels and supports seen around 4882- 4852 levels.