The yen declined against the dollar and euro.

Premier Wen Jiabao warned of “latent risk” in China’s banks and pledged to crack down on property speculation as the government faces the consequences of flooding the economy with money to drive growth. European Central Bank President Jean-Claude Trichet pressed Greece to halt its flirtation with International Monetary Fund aid and work with European allies to tame its record budget deficit. The yen declined against the dollar and euro on speculation the Bank of Japan will step up credit easing measures to stave off deflation. The Japanese currency fell against 15 out of its 16 most- active counterparts after yen-borrowing costs fell in London.
Options traders are more bullish on the yuan than any other currency as they bet that growing exports and accelerating inflation will overcome China’s vows to maintain a 20-month dollar peg. Optimism about the government's February jobs report sent the Dow Jones industrials back into the black for 2010. The economy is showing renewed strength as retail sales surged last month and factory orders also increased. Such gains could lead to more hiring -- if they can be sustained.
Food Inflation for the week ended February 20, 2010 stood at 17.87%. Private banks have hiked interest rates on home loans and car loans. Government may allow higher FDI in Defence Sector. Direct tax collections for the first 11 months of the present financial year rose 7.52% to Rs.2.78 lac crore. The collections expected from the auction of 3G may be more than expected, as per Finance Secretary Mr. Ashok Chawla.
Ashok Leyland has lined up a capital expansion of Rs.3000 crore. Raymond has initiated a revamp exercise in its garment business that includes extending the reach of its flagship brand, Raymond. Manappuram General Finance has raised Rs.245 crore via QIP route. Wipro has bagged a 7 year contract from US firm . Strides Arcolab has acquired Aspen’s unit in Brazil for USD75 million. Tata Sons has increased its stake in Tata Power. The group has bought 2.25 million shares of Tata Power for RS.300 crore. Essar Oil plans to invest Rs.4000 crore for CBM blocks.
Ahluwalia Contracts plans to foray into the construction of power projects.
Nifty March contracts ends the Day marginally up by 0.15 points at a premium of 1 points (7 point discount previous day) paring OI by 0.3% with indications of short covering. Nifty OI PCR at 1.336 compared to 1.273 at the close of last Day. Nifty puts sees addition of 31.84 Lakhs and calls sees addition of 2.57 Lakhs over the day. Highest OI in Nifty calls seen at 5100 March strike and puts at 5000 March strike. Nifty VIX at 2098 from 20.75 last day. Long build up seen in APOLLOTYRE, GESHIP, MCLEODRUSS, BHUSANSTL, ONMOBILE, FORTIS, SESAGOA, TITAN, SUZLON, VIDEOIND, MOSERBAER, CANBK, UNIONBANK, JINDALSAW, ASHOKLEY, TULIP, LICHSGFIN, VOLTAS, SAIL, RELMEDIA & SCI etc during the day. Short build up seen in AXISBANK, MPHASIS, PUNJLLOYD, CAIRN & BANKINDIA etc. Long liquidation seen in IBREALEST, POLARIS, TATACHEM, HINDZINC, SINTEX, CHAMBLFERT, EKC & UNITECH etc. FII side over the Day saw long liquidation in Nifty futures and Nifty options was seen to be bought. Short build up seen in stock futures during the session.