Daily Stock Market News Snippets- 1 April 2022

1 min read
  1. US markets fell by approx. 1.5% yesterday.
  2. Brent Crude prices have decreased and touched USD 104 levels from USD 110 per barrel as the president of US has ordered to release their strategic reserves to cater the demand.
  3. The US 10 year Gsec yield decreased to 2.36%, the yield is stabilizing slowly and will impact the market accordingly.
  4. Russia has offered a $ 35 discount on a pre-war crude price to the Govt. of India. Although only 15 million barrels have been contracted till date, daily national consumption as of date stand at 5 million barrels. The foreign ministry is in talks with its Russian counterparts for exploring the modes of the transaction as the Russia faces sanctions by the western allied countries.
  5. IT department has claimed to unearth 800 crores of bogus expenses from a leading automobile manufacturer in India.
  6. Market cap of listed firms on BSE exchange rose to 264.06 crores, it is up by 59.75 lakh crores in FY 22, a 18+% rise.
  7. AC sales have spiked by 20-30% relative to summer of 2019 amid heat waves in the country.
  8. Foreign Investors have withdrawn their bids in FPO of Ruchi Soya, 97% of the bids have been cancelled so far.
  9. Reliance have defended their takeover attempt of future retail, mentioning the quantum of financial support given, it said INR 4800 crore support has been extended which include 1100 crores of unpaid lease expense.

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