Daily Stock Market News Snippets-17 March 20221 min read
1) Federal Reserve hikes the interest rate by 0.25%. Mr. Powell, Chair of the Board of Governors of the Federal Reserve has also said that the interest rate hike will be up to 1.9%. Targets for 2023-24 for the policy rate is 2.8%. The expectation of Inflation is 4.3% by December 2022, 2.7% in 2023, and 2.3% in 2024.
2) The US Federal Reserve expects that US GDP Growth in 2022 should be around 2.8% and the Unemployment rate would hold steady over the next years.
3) US Markets were up by between 1.5% to 1.7% yesterday on 16th March 2022.
4) Brent Crude Oil price is around $98 per barrel, while the US 10-year G-Sec Yield rate stands at 2.18%.
5) PNB reports Rs. 2,060 Cr. borrower fraud by IL&FS Tamil Nadu Power. PNB had already made provisions of Rs. 824 Cr., and will now do provisioning of the rest amount.
6) India may import 15 million barrels of cheap Russian Oil in 2022. Currently, India imports only 0.6% of oil from Russia which could now go up to 3%.
7) Foreign Institutional Investors (FIIs) finally turned positive or remained net buyers in Indian Stock Markets on Wednesday 16th March 2022 after a long period of being net sellers.
8) JP Morgan said that a big rotation from bonds to equities on the cards.
9) Aviation fuel prices hiked by 18%.
10) Interest from Bank and Corporate Treasuries is coming up in LIC IPO.