The euro fell for a second day against the yen.

The euro fell for a second day against the yen amid concern Greece and other European countries will struggle to raise funds to repay maturing debt. The pending home sales index posted a surprise jump in February, rising 8.2% to 97.6 from a revised 90.2 in January. Economists expected the report from the National Association of Realtors to have declined by 1%, according to Briefing.com forecasts. A separate report showed growth in the services sector of the economy. The Institute for Supply Management's (ISM) services sector index rose to 55.4 in March from 50 in February, versus forecasts for a rise to 53.6. Any reading over 50 indicates expansion in the sector.
The Bank of Japan may raise its economic assessment and keep policy unchanged tomorrow after its Tankan business survey showed the export-driven recovery is gaining momentum. Steel consumption rose 7.6 per cent to 56.32 million tonne (mt) in 2009-10 as against 52.35 mt in the year-ago period, on account of rising demand from sectors, including automobiles, white goods and construction. Sebi revises timeline for filing financial results, whereby, listed companies will now have to submit audited quarterly results within 45 days from the end of the relevant quarter.
Bicon arm has entered into an agreement to acquire the 49% equity stake held by CIMAB SA in Biocon Biopharmaceuticals Pvt. Ltd. (BBPL), post which BBPL will become a wholly owned subsidiary of the company. Uttam Galva Steels has increased the prices of its products by Rs 6,000 per tonne. Essar Oil’s promoter entities will consolidate their holdings in the company by way of transfer of shares among themselves later this month. Welspun Gujarat Stahl Rohren is learnt to be in talks to buy a tad over 50 per cent stake in the Saudi Arabia-based Aziz Pipe Company for an estimated Rs 260 crore. L&T has bagged an order worth Rs 1,060 cr from GSPC. United Breweries (Holdings), a promoter of Kingfisher Airlines, has pledged 5.1 million shares in the carrier as on March 30, or about 1.9 per cent of its equity. Era Infra Engineering has forayed into power transmission and distribution (T&D) business. McNally Bharat Engineering has bagged a project worth Rs 827 crore for infrastructure development works at the 500 MW Satpura power station. Aegis Logistics has acquired Shell Gas (LPG) India. Opto Circuits buys NS Remedies for USD 1.5 mn. Oil India has USD 2.5 bn of cash available for overseas acquisitions. Reliance Big Entertainment has said it will acquire 50 per cent stake in the England-based gaming firm Codemasters, possibly for up to $150 million. Nifty April contracts ends the Day up by 59.10 points at a discount of 2.5 points in April contracts and adding OI by 6.5%. Nifty VIX at 17.17 % compared to 17. 62% previous Day. Nifty OI PCR at 1.267 compared to 1. 194 the previous day Nifty active puts sees addition of 46.68 Lakhs and calls sees addition of 11.99 Lakhs over the Day Highest OI in Nifty calls seen at 5400 April strike and puts at 5200 April strike. Long build up was seen in JISLJALEQS, BAJAJ-AUTO, ALBK, BHUSANSTL, SYNDIBANK, NAGARCONST, DENABANK, SINTEX, ORIENTBANK, GODREJIND, IBREALEST, PRAJIND, BALRAMCHIN, ANDHRABANK, HDIL, DLF, RENUKA, TATASTEEL, IDBI, INDIAINFO, VIJAYABANK & BAJAJHIND, etc over the Day. Short build up during the Day seen in BEL, NOIDATOLL, FORTIS, HINDPETRO, IOC, IDEA HINDUNILVR etc over the Day. Long build up was seen in Nifty futures from the FII side. Long build up seen in Stock futures from the FII side. Addition in Nifty options seen during the day from the FII side.