BUSINESS
Equities extend losses; MPC meet in focus for fresh cues
At 9.45 a.m., Sensex was 0.6 per cent or 347 points down at 59,830 points, whereas Nifty 0.7 per cent or 125 points down at 17,833 points. Among the individual stocks, HDFC Bank, HDFC, Bajaj Auto, Kotak Mahindra Bank, and Axis Bank were the top five losers among the Nifty 50 companies, while NTPC, Coal India, UPL, Tata Steel, and BPCL the top five gainers, NSE data showed.
1 in 2 employers keen on hiring in April-June as India reopens: Report
Out of the 21 sectors reviewed in the country, 16 indicated keenness to hire. The IT sector (95 per cent of the employers keen to hire) was followed by educational services (86 per cent), e-commerce and technology startups (81 per cent), and healthcare and pharmaceuticals (78 per cent), according to people supply chain company TeamLease Services.
Not necessary to activate 'Counter-Cyclical Capital Buffer': RBI
In financial parlance, the 'CCyB' applies on banks to promote sustainable provision of credit to the economy in time of distress. The framework on 'CCyB' was put in place by the Reserve Bank in terms of guidelines issued on February 5, 2015. Accordingly, the guidelines said that 'CCyB' would be activated as and when the circumstances warranted, and that the decision would normally be pre-announced.
Return of FIIs: Valuations attract foreign capital after 6-month hiatus
The market has seen an inflow of over Rs 7,000 crore (provisional data) worth of investments since late March till date. This comes after foreign investors sold over Rs 40,000 crore in Indian equities market during the whole of March 2022. March was the sixth straight month when foreign portfolio investors pulled out Rs 41,123 crore from the Indian equity segment, National Securities Depository data had revealed.
How CCI order is also a breather for Zomato, Swiggy
While the CCI has indeed directed a Director-General (DG) investigation, the order in some sense is a vindication for the food delivery companies since the CCI has not found concerns with issues around "bundling of services, their independence with respect to levy of commissions or the alleged imposition of unilateral clauses on restaurant partners".
Rise in domestic petrol prices lower than US, Germany and others: Puri
Lately, global crude oil prices have risen due to the Russian-Ukrainian war. articipating a debate in Lok Sabha on the fuel price rise, Puri defended the Centre and said that price of petrol have been raised by Rs 9 over 12 or 13 days, whereas the international prices have shot up. He cited figures, which compared petrol prices between April 2021 and March 2022.
Rising ownership, fuel costs subdue India's March auto sales: FADA
FADA data showed a YoY fall of 2.87 per cent in overall automobile retail sales during the month under review. he overall retail sales fell to 16,19,181 units last month from 16,66,996 units sold during the corresponding month of 2021. Also, last month's overall retail sales figure, when compared to the March 2020 period, showed a decline of 29.99 per cent.
$100 Billion Club: India’s Gautam Adani joins ranks with Elon Musk and Warren Buffett
Adani joined this elite club which includes Tesla CEO Elon Musk, Jeff Bezos founder of Amazon and other 7 billionaires. Gautam Adani has also become the richest person in Asia, surpassing Reliance Industries’ chairman Mukesh Ambani. Indian businessman Adani and French businessman Bernard Arnault- chairman of luxury goods group (LVMHF) are the only non-Americans in the centibillionaires club.
Global market for nuclear missiles, bombs to witness 73% spike by 2030: Report
The global market for nuclear missiles and bombs is expected to surpass $126 billion by 2030. The world is witnessing an increase in military spending as a result of the ongoing Russian Ukraine war, according to the report. South Asian countries may surpass the west in boosting their nuclear arsenals, the report claimed.
Profit booking subdues equity, MPC meeting in focus for fresh cues
Sensex closed 0.7 per cent or 435 points down at 60,177, whereas Nifty dipped 0.5 per cent or 96 points down to 17,957. For the near-term, the outcome of the Reserve Bank of India's upcoming monetary policy meeting starting Wednesday would be the major factors that will dictate the market outlook.
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