BUSINESS
NSE fraud case: CBI arrests Anand Subramanian
In a latest development in the NSE fraud case, the Central Bureau of Investigation (CBI) has arrested Anand Subramanian, the former Chief Strategic Advisor of National Stock Exchange, from Chennai on the intervening night of Thursday and Friday. A source told that he will be produced before the concerned court. The federal probe agency will seek his custodial remand.
Indian equities open positive; Sensex jumps over 1,000 pts
India's key indices -- S&P BSE Sensex and NSE Nifty50 -- recovered considerably on Friday morning due to value buying. Even as the equity markets are expected to be volatile in the next few days, there is nothing to worry for long-term investors, said Ravi Singhal, Vice-Chairman, GCL Securities. Thursday's sharp fall was triggered after Russia announced a military operation in Ukraine.
US Fed official signals March rate hike on track despite Ukraine crisis
"Barring an unexpected turn in the economy, I believe it will be appropriate to move the funds rate up in March and follow with further increases in the coming months," FRB of Cleveland President, Mester said at a virtual event. "The implications of the unfolding situation in Ukraine for the medium-run economic outlook in the US will also be a consideration in determining the appropriate pace at which to remove accommodation," she added.
India TWS shipments hit record 21 mn in 2021, boAt leads
Homegrown brand boAt captured the top spot for the sixth consecutive quarter, followed by realme and Noise, according to Counterpoint Research. Following this, brands like pTron, Noise, Dizo and boAt also started offering ANC-enabled devices in the same segment. India's TWS market saw a healthy 20 per cent YoY growth in the premium segment (more than Rs 5,000).
Concerns grow about food prices worldwide after Russian invasion
"I think it's a little early to make projections and hypothesize about circumstances," he added on Thursday. "If I were a Commissioner or an (Agriculture) Secretary in a European country, I would probably have a much different feeling about this," he said. "I think we in the US are fortunate. We have tremendous capacity; we have tremendous production capacity."
MPC unanimously agreed on repo rate, but not on accommodative stance: Minutes
According to the minutes of the MPC meet which took place from February 8 to 10, all six members of the MPC unanimously voted to retain the RBI's repo rate, or short-term lending rate, for commercial banks, at 4 per cent. Likewise, the reverse repo rate was kept unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 per cent.
Collateral Damage: Rupee falters as Russia attacks Ukraine
The Indian rupee became a casualty of the ongoing Russia-Ukraine hostilities as it weakened by over 1 per cent on Thursday. The rupee weakened by 1.3 per cent to Rs 75.65 per USD from its Wednesday's close of Rs 74.55. Global equity indices and currencies also slid after Russia decalred military operation in Ukraine.
Cost of War: Equities, rupee plunge as FIIs pump out over Rs 6K cr
Global headwinds triggered via Russia's attack on Ukraine heavily dented India's domestic equity markets as well as the rupee on Thursday. The indices -- S&P BSE Sensex and NSE Nifty50 -- logged its second worst day since March 2020 on Thursday as foreign investors fled. The FIIs were net sellers on BSE, NSE and MSEI in the capital market segment on Thursday. They net sold Rs 6,448.24 crore worth of equities.
NSE Scam: Money trail can lead to the mysterious 'yogi'
What is clear from the contents of the emails from mail id '[email protected]' to Ramkrishna is that the "yogi" is a person who is well versed with NSE organisational set up, stock market operations, and having power at different levels. The yogi also has an office in Delhi's upmarket Vasant Vihar and is a good friend of foreign shareholders representation committee on NSE Board.
Biden likely to release another round of US emergency oil stockpile
Croft, a former CIA analyst, added that the size of the release will "likely be larger" than the one announced in November that provided just modest relief to American drivers filling up at gas pumps, the report said.Although emergency oil releases can help cushion the blow from supply shortages, they won't solve the underlying supply-demand imbalance that drove energy prices to seven-year highs even before the invasion of Ukraine.
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