Asian stocks rose, led by companies reliant on sales in North America

Asian stocks rose, led by companies reliant on sales in North America, as U.S. job reports boosted confidence the global economy is recovering. Former Federal Reserve Chairman Alan Greenspan said there is “a momentum building up” in the U.S. economy and the odds of it faltering have “fallen very significantly.” There is a momentum building up which is really just beginning and it’s got a way to go,” Greenspan said today on ABC’s “This Week” program. He said the U.S. is “on the edge of a significant build-up” in inventories “and that is a self- reinforcing cycle.” US employers added 162,000 jobs in March after losing a revised 14,000 jobs in February, the Department of Labor said Friday. Economists had predicted a gain of 184,000 jobs, according to a consensus of economists surveyed by Briefing.com. Exchange rate fluctuation has inflated India's external debt by $18.7 billion (about Rs 90,000 crore) during the three-month period ending December 31, 2009, according to a data from the Reserve Bank of India (RBI). Finance Minister Pranab Mukherjee expects food prices to start falling with the harvest of winter crop this month and also on the back of imports of essential commodities. Bhel, power sector southern region ( PSSR) catering to the four southern states besides Orissa, Chatisgarh and Madhya Pradesh, bagged new orders worth Rs 1770 core during 2009-10 taking the outstanding orders to Rs 5238 core.
Union Bank of India has said its business is likely to cross the Rs 3 lakh crore mark by this quarter and has projected growth of 25 per cent in loans and deposits in fiscal 2010-11. Emami sets a target of 19% growth rate in sales for its flagship product Navratna oil for 2010-11. Reliance Infrastructure has commissioned the first phase of 1,200-MW Thermal Power Plant by putting 600 MW on stream at Hissar in Haryana. Hindustan Copper is hopeful of getting government’s approval in April for its share sale programme, which is expected to raise Rs. 10,000 crore. Patni promoters are making fresh attempts to sell their stakes to international and local firms. Heidelberg Cement has earmarked Rs. 800 cr for acquisition of mid-sized companies in India. DLF has appointed Goldman Sachs to advise it on the matter of sale of luxury hotel chain, Aman Resorts. NMDC raises base ore prices by 34-56% from April 1, 2010. Nifty April contracts ends the Week marginally up by 9.85 points at a premium of 16.30 points in April contracts and adding OI by 1.0%. Nifty VIX at 17.62% compared to 17.89% previous Week. Nifty OI PCR at 1.194 compared to 1.174 the previous day. Nifty active puts sees addition of 93.57 Lakhs and calls sees addition of 72.55 Lakhs over the Week. Highest OI in Nifty calls seen at 5400 April strike and puts at 5200 April strike. Long build up during the week seen in BGRENERGY, ASHOKLEY, AREVAT&D, PATELENG, NAGARCONST, MUNDRAPORT, VIDEOIND, FORTIS, IFCI, CHENNPETRO, HOTELEELA, AXISBANK, SUNTV, PETRONET, EKC, BAJAJ-AUTO, ESSAROIL, JINDALSAW, GODREJIND, LICHSGFIN etc over the week. Short build up was seen in MUNDRAPORT, DABUR, TECHM, NOIDATOLL, EDUCOMP, MCLEODRUSS, RENUKA, LUPIN, BHARTIARTL, POLARIS, PUNJLLOYD & LITL etc over the week. Short build up was seen in Nifty futures from the FII side. Short build up seen in Stock futures from the FII side. Good addition in Nifty options seen during the day from the FII side.