Daily News Snippets- 2 March 2022
2 min read1) US Market fell heavily on Tuesday 1st March 2022 by around 1.5% to 1.7% on account of escalating tensions between Russia and Ukraine, due to the same reasons, crude oil prices are again rising.
2) The US 10 Year G-Sec Yield has gone down from the level of 2.06% to 1.75% amid the increasing demand for government securities as Bonds, Gold, etc. are considered as a haven and during this period, the demand for such instruments increases.
3) In January 2022, the total GST Collection amount was around Rs. 1.33 Lakh Cr. which is down by 5.6% month-on-month, but has increased from around 18% YoY.
4) The market leader in the 4-wheeler automobile segment- Maruti Suzuki and Hyundai have suffered a downfall in the sales of February 2022. Maruti Suzuki’s sales are down by 8.5% YoY and are at 1.4 lakh units whereas Hyundai’s sales are down by 14.6% YoY which are at 44,050 units. The reason behind this fall in sales is due to chip shortage, as stated by both the companies.
5) On the contrary, Tata Motors and Mahindra & Mahindra (M&M) have reported an increase in monthly sales. Sales of Tata Motors is up by 47% YoY and stands at 39,881 units, while M&M reported growth of 80% YoY in the sales, and the total sold units in February 2022 is 27,663 units.
6) The Experts believe that the 4th Wave of Covid-19 in the country is unlikely to come in the country on account of high vaccination, initiation of a booster dose, and increased immunity of the citizens.
7) The rising crude oil prices directly impact the commodity prices to increase where the FMCG sectors are highly affected by the increased commodity prices, but the same situation is beneficial for the metal sector.
8) HUL has taken a price hike of around 3%-13% on the different products to offset the impact of increased raw material prices.
9) CDSL becomes the first depository with 6 Cr. plus Demat Accounts.
10) L&T Finance Holdings has decided to completely focus on Retail Loans.