Daily News Snippets- 8 March 20221 min read
1) US Markets were down by around 2%-3% yesterday on the broader level. NASDAQ has fallen by more than 20% from its 52-week high levels. Technically, it means that NASDAQ is in bear grip as per the market laws.
2) Gasoline Prices per Gallon have crossed the $4 mark, pointing to all-time high levels since the last peak levels in the year 2008.
3) The rising fuel prices directly impact the inflation situation in the economy.
4) Exit Poll of the state elections stands up to the expectations of the market, wherein it is expected that BJP will again come in power in Uttar Pradesh (UP), AAP will come in power in Punjab, BJP is looking ahead in Uttarakhand & Manipur.
5) In the coming period, there could be more pains for Auto Firms. Mainly due to 2 reasons: the rising commodity prices and fuel prices.
6) Rupee has gone to all-time low levels and is near around Rs. 77 per dollar on account of rising current account deficit.
7) Sachin Bansal led Navi Technologies plans Initial Public Offering of Rs. 4,000 Cr. The company might disrupt the financial service industry, especially Insurance and Mutual Fund sector.
8) Market Capitalization of Paytm slips below Rs. 50,000
9) Nifty Small Cap 100 Index is in bear grip wherein the index has fallen by more than around 20%.
10) Rate Sensitive Sectors like PSU Banks, Private Sector Banks, Real Estate, etc. are under pressure in the rising interest rate scenario.