Daily Stock Market News Snippets- 9 March 2022

2 min read

1) President of the United States of America, Joe Biden has imposed a ban on Russian Oil Imports on Tuesday 8th March 2022. Around 8% of US Liquid Fuel accounts to Russia. On account of this decision, the price of brent crude crosses the mark of $130 per barrel level.

2) Further, the US President, Joe Biden has also warned the public that Gasoline prices might rise in the coming time. Already, the Gasoline prices are at all-time high levels since the last peak of the year 2008 at $4 per gallon.

3) HDFC Bank’s Credit Card Spend Market Share has lost from 31% in January 2021 to 24.8% in January 2022.

4) HDFC Limited has raised to Rs. 10,000 Cr. through debentures @ 7.18% for the maturity period of 10 years.

5) The Rating Agency, ICRA sees serious downside risks to growth in India. The reason is the possibility of an impact on the Current Account Deficit (CAD) to cross the level of 3.2%. Higher CAD might also lead to larger depreciation in the domestic currency.

6) NSE Chief Vikram Limaye is not seeking reappointment. During his tenure in the post of the 5 years, he helped the company to deliver double-digit returns in revenue and profitability growth.

7) Gold prices in India have reached the mark of Rs. 55,000 per 10 grams while in the US the price of Gold is around $2,050 per ounce amid ongoing geopolitical tensions between Russia and Ukraine. Goldman Sachs has given the target of $2,300 per ounce in the next 3 months, and in the next 6-12 months, the price of Gold might touch $2,500 per ounce. If the target of Goldman Sachs gets achieved

8) Credit Suisse downgrades Indian Equities to underweight and has shifted towards China.

9) There is an interesting line-up of new Initial Public Offerings (IPOs) in the calendar year 2022, the name includes- BYJU’s, Ola, OYO, etc.

10) Prime Minister Narendra Modi in his post-budget session with Indian Incorporations has asked to pick 3 areas to be in the top 3 globally. Moreover, he kept some pointers like the construction sector, startups, drones space, etc.

11) SEBI has raised the investment limit via UPI to Rs. 5 lakh for retail investors. Earlier, the limit was Rs. 2 Lakh.

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