Daily Stock Market News Snippets- 16 March 2022

1) Brent Crude Oil prices slips below $100 per barrel. The decline in Brent crude oil prices is due to the possibility of the expected capacity of OPEC countries to match the level of Oil supply by Russia and due to rising cases of Covid-19 in Europe.

2) Fed Reserve meeting has commenced and the decisions regarding interest rate hikes by the end of Wednesday.

3) US markets were up by 2% to 3% on Tuesday 15^th March 2022.

4) Chinese and Hong Kong market has heavily fallen due to lockdowns in regions on account of the Covid-19 virus outbreak and warnings by the USA to China of sanctions on the country if they provide financial and military aid to Russia.

5) The out-of-the-settlement or the talk between Amazon and Future fails.

6) Government to make calibrated interventions to keep fuel prices under control.

7) 75 Auto firms offer to invest Rs. 74,850 Cr. over the 5 years in the Auto Production-Linked Incentive (PLI) Scheme. Companies might receive a benefit of 30%-40% over the invested amount. Original Equipment Manufacturers (OEMs) will be investing around Rs. 45,000 Cr. and Auto-Component Companies will be investing around 27,834 Cr. under Component Champion Incentive Scheme.

8) Zomato and Blinkit to merge in an all-stock deal.

9) SoftBank’s Munish Varma to exit Paytm and PolicyBazaar boards. SoftBank has stated that is a standard procedure globally of the company where it steps away from the board positions after the listing of the companies.

10) Berkshire Hathaway stock price hits $5,00,000 or around Rs. 3.75 Cr.