Daily Stock Market News Snippets- 25 March 20222 min read
1) US Markets closed up by around 1%-2% yesterday possibly due to easing of crude oil prices from $123 per barrel to $118 per barrel.
2) The US 10 Year G-Sec Yield is around 2.36%.
3) As per Jefferies report, the Indian Household assets size is around $10.7 Trillion out of which only 4.8% of assets account for equity amounting to $513 billion. Most of the Indian household assets are dedicated towards property i.e., around 49.4% and $5 Trillion in value terms, next to which is Gold i.e, 15% valuing around $1.5-$1.6 Trillion. Bank and Fixed Deposits also have a weightage of around 15% and amounting to the value of $1.5-$1.6 Trillion. Further, Insurance is having weightage of 6.8% and has a value of close to $700 billion. Around 5.7% of assets are held in the Provident fund and Pension fund.
4) As per Moody’s report, IOC, BPCL, and HPCL lost $2.25 billion in terms of revenue in the last 4 months due to freezing in oil prices on the grounds of state elections in the country.
5) BYJU’s is the official sponsor of FIFA World Cup 2022.
6) SBI enters into co-lending tie-ups with 5 House Financing Companies (HFCs) namely Punjab National Bank (PNB) HFC, IIFL HFC, Sriram HFC, Edelweiss HFC, and Capri Global HFC. This tie-up is for the affordable housing schemes segment.
7) Recovery in the US economy helped India to achieve the $400 billion mark for merchandise export. Out of these total exports by India, export of around $73.1 billion account to the US where there is a rise of 46.8% YoY in the US exports. In the total export share of India, the US accounts for 18.2%.
8) 4 Firms selected for Rs. 18,000 Cr. Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage. The companies selected are Reliance’s Solar Energy Company, Hyundai Global Motors, Ola Electric, and Rajesh Exports.
9) According to the S&P report, Commodity price rise may affect India’s economic recovery.
10) The rising input cost may affect the FMCG companies for a much longer period.0