o The US Labor Department reported that the number of Americans filing new claims for unemployment.

The US Labor Department reported that the number of Americans filing new claims for unemployment fell to 462,000 from a revised 468,000 the previous week. Economists surveyed by Briefing.com thought it would fall to 460,000. US continuing claims, a measure of Americans who have been receiving unemployment checks for a week or more, rose to 4,558,000, up 37,000 from the previous week's reading of 4,521,000. Economists expected 4,500,000 claims. China's growth in the aftermath of the recession has already caused officials to limit bank lending and this report could add to pressure to start raising interest rates. China is the third-largest economy in the world and a big importer of goods. The US January trade gap narrowed to $37.3 billion from a revised reading of $39.9 billion. The deficit was expected to widen to $41 billion, according to forecasts. Consumer prices rose a more-than-forecast 2.7 percent in February in China, the most in 16 months, the statistics bureau said in Beijing yesterday. The increase means the rate exceeds the one- year deposit rate of 2.25 percent. The government could find it difficult to meet even its lowered tax revenue collection target for FY’10. But on account of less utilization in some of the key schemes it would not need to borrow more and stay within the budgeted fiscal deficit. Food Inflation for the week ended February 27 stood at 17.87 per cent.
Fortis shall buy TPG’s stake in Parkway Holdings. Sanghi Industries plans to raise Rs.660 crore to expand cement business. Emaar MGR shall invest a sum of Rs.500 crore in Gurgaon to set up a mid-income housing project. Mahindra & Mahindra is in talks with Delhi-based Sonalika Group for a strategic stake in the latter’s SUV. S K Birla Group has acquired 3.6% more in Digjam. Bharti Airtel has entered into digital media business. Astrazeneca has entered into a supply deal with Torrent Pharma. Kisan Mouldings has announced that it would set up a specialized grade pipes manufacturing facility in Madhya Pradesh. Gujarat State Petroleum Corporation is set to hit the capital market in the month of May. Nifty March contracts ends the Day up by 28.60 points at a premium of 13.45 points paring OI by 2.7%. Nifty OI PCR at 1.503 compared to 1.394 at the close of last Day. Nifty puts sees addition of 49.66 lakhs and calls sees paring of 4.23 Lakhs over the Day. Highest OI in Nifty calls seen at 5100 March strike and puts at 5000 March strike. Nifty VIX at 20.14 from 20.01 last Day. Long build up seen FORTIS, LICHSGFIN, BANKBARODA, SUNPHARMA, EDUCOMP, PATNI, ABB, YESBANK, STER & WIPRO during the day. Short build up seen in KSOILS, RENUKA, ICSA, BALRAMCHIN, HINDPETRO, CANBK, JISLJALEQS, HINDUNILVR, TV-18, KOTAKBANK, ADANIENT & STERLINBIO during the day. FII side over the Day saw short covering in Nifty futures and short build up in stock futures and Nifty options was seen to be bought.