The Federal Reserve may raise the discount rate.

The Federal Reserve may raise the discount rate, charged on direct loans to banks, before the next meeting of the Federal Open Market Committee on April 28, economists said. Google Inc. may pull out of China on April 10, China Business News reported today, citing an unidentified Chinese sales agent for the company. Asian stocks rose, driving the MSCI Asia Pacific Index toward a fourth weekly advance, after U.S. jobs and manufacturing reports boosted confidence in a global economic recovery.
The number of Americans filing new claims for unemployment fell to 457,000 last week from 462,000 the previous week, the government said. Economists had been expecting 455,000 new claims. Continuing claims, a measure of those who have been receiving benefits for a week or more, rose to 4,579,000 from 4,567,000 the previous week. Economists expected 4,522,000 in continuing claims. The Consumer Price Index (CPI) was unchanged in February after rising 0.2% the month before, according to a government report released before the start of trading. Prices were expected to have risen 0.1% in the month. The so-called core CPI, which removes volatile food and energy prices, rose 0.1% in February after falling 0.1% in January, meeting expectations. The nation warned Thursday that it will have to tap the International Monetary Fund for help if the European Union can't agree next week to a plan of attack that will help it cut its borrowing rates. Going outside the 16-nation euro zone would be seen as a blow to the group and could further weaken the euro. S&P has upgraded India outlook to stable on the back of better fiscal health. 8 telecom companies have bid for 3G, broadband wireless spectrum. Strides has bought Aspen’s stake in JVs for Rs.530 crore. Daimler has lined up a capex of Rs.4400 crore in India. Welspun Gujarat has planned to buy 75% stake in MSK Projects. Posco is in talks with SAIL for joint venture. Arcellor Mittal has relocated its steel plant to Bokaro. Bajaj Auto has targeted sale of 4 million bikes, 3 wheelers in 2010-11. Mahindra Finance has entered the ‘loan against gold’ space. Nifty March contracts ends the Day up by 14.55 points at a premium of 8.25 points adding OI by 4.2%. Nifty OI PCR at 1.675 compared to 1.615 at the close of last Day. Nifty puts sees addition of 43.09 Lakhs and calls sees paring of 6.78 Lakhs over the Day. Highest OI in Nifty calls seen at 5300 March strike and puts at 5000 March strike. Nifty VIX at 17.967 % from 17.73 last Day. Long build up seen in APOLLOTYRE, CUMMINSIND, WELGUJ, SAIL, SINTEX, HOTELEELA, INDHOTEL, RELMEDIA, TRIVENI, JSWSTEEL, ONMOBILE, JPASSOCIAT & INDIACEM during the Day. Short build up seen in during the Day MCDOWELL-N, BPCL, MCLEODRUSS, MOSERBAER, M&M & HINDPETRO etc. Long unwinding seen during the day in UNIONBANK, IDEA, POLARIS, RECLTD, TTML, DISHTV, EKC, CHENNPETRO, RCOM, OPTOCIRCUI & TATACOMM etc. FII side saw short build up in Nifty futures, short covering in stock futures and Nifty options was bought during the session.