Most Asian stocks fell

Greek Finance Minister George Papaconstantinou said he can’t call for outside aid as his government struggles to cut the European Union’s largest budget deficit. “The worst possible signal which we could send out is one calling for outside help,” he said in an interview with Bloomberg Television in Athens yesterday. Most Asian stocks fell, led by banks and material companies, amid mounting concern budget deficits in Europe will derail the global economic recovery. China’s banks probably made more new loans in January than the previous three months combined as lenders sought to head off a credit clampdown by policy makers seeking to stem rising inflation pressures. New bank lending totaled 1.38 trillion yuan ($201 billion) last month, according to the median estimate of 16 economists in a Bloomberg News survey ahead of a government report scheduled for this week. The Government has estimated the economy to grow by 7.2 per cent in the financial year 2009-10, against 6.7 per cent a year ago, despite contraction in farm production. The government has said that the price situation is being reviewed regularly and surge in prices of essential items would be controlled soon. Merger and acquisition activity in the country more than doubled in the first month of 2010 as deals worth nearly USD 3 billion (about Rs 13,950 crore) were announced amid improved signs of liquidity.
The agriculture sector output is likely to decline by 0.2 per cent in the current fiscal due to fall in Kharif production on account of drought and floods that hit several parts of the country, according to Central Statistical Organisation (CSO).
Expressing satisfaction at the 7.2 per cent growth estimates for this fiscal, the Planning Commission has pitched for phased withdrawal of stimulus in the forthcoming Budget. RBI has ruled out one more round of restructuring of real estate loans.
The Centre is weighing options of asking bulk consumers of sugar to use only imported refined sugar instead of buying domestic supplies. Mahindra & Mahindra Ltd and UK's BAE Systems will inject a total of USD 21.25- million (Rs 99.4-crore), over a three-year period, into their joint venture company, Defence Land Systems India.
Raymond is aiming to increase revenue from retail business by up to 40 per cent in two years from the current Rs 1,000 crore, for which it will add more stores in smaller towns. Kingfisher Airlines has hired Seabury Aviation & Aerospace, a US-based company, for advise on restructuring and performance improvement. BHEL has bagged a Rs 1,000-crore contract for supplying equipment to a hydro power project in Bhutan. Debt ridden Vishal Retail has said that global private investment firm TPG has proposed to buy stake in it, which is subject to approval by its lenders. Maruti Suzuki India, expects to double its exports to about 1.6 lakh units this fiscal, while it is aiming over 20 per cent growth in its overall sales. L&T Finance Ltd, the financial services arm of Larsen & Toubro, plans to raise up to Rs 500 crore this month through NCDs, or debt instruments that cannot be converted into equities.
Nifty near contracts ends the Day down by marginally up by 15.55 points at a premium of 4.50 points adding OI by 1.3%. Nifty OI PCR in at 1.021 compared to 1.031 previous day. Nifty puts sees addition of 7.80 Lakh and calls sees addition of 13.50 Lakh over the day. Highest OI in Nifty calls seen at 5000 Feb strike and puts at 4700 Feb strike. Nifty VIX at 30.36 from 29.22 last day. Long build up seen in CHAMBLFERT, SUNTV, DABUR, POLARIS, CESC, UCOBANK, BANKBARODA, NAGARFERT, SUZLON, SUNPHARMA, BHUSANSTL & PNB Long liquidation in Nifty futures was seen from the FII side during the session. Nifty options was bought by them during the session.