Author: Rati Verma

As rising tensions between Russia and Ukraine frightened attitudes, markets saw a severe sell-off, losing roughly 5%. Investors opted out of riskier assets in favor of gold as a haven. The Nifty index fell further lower, eventually settling at the day’s low to close at 16,247. All sectoral and broader indexes closed the day with severe cuts, in line with the benchmark. The news of Russia’s invasion of Ukraine has rattled the markets, and it may continue to do so as more information emerges. The Nifty index has broken through its consolidation range, and it may find support in the…

The forthcoming initial public offering (IPO) of Life Insurance Corporation, which is expected to be the country’s largest-ever, according to Jefferies India, has the potential to upset the market balance. The insurance behemoth has submitted a draught paper to the market regulator for its share sale. The market anticipates permission soon, and public bidding is expected to begin by mid-March. Despite unfavorable market conditions, the government, which owns the whole interest in the company, is eager to complete the sale by the end of this fiscal year. “Strong local buying has absorbed heavy foreign selling, smoothing the market impact.” The…

Russian equities fell sharply in choppy trading on Monday, as fears grew that Moscow would start an invasion of Ukraine shortly. After Moscow said it had destroyed two Ukrainian military vehicles crossed into Russian territory, the Moex index dropped as much as 17%. According to Refinitiv statistics, the Moex is on course for its worst single-day drop on a closing basis since the financial crisis in 2008.  “It doesn’t feel panicky, but it does feel like the market has moved into a stronger form of risk aversion,” said Altaf Kassam, State Street’s head of investment strategy and research.   Rosneft, Russia’s…

Russian President Vladimir Putin called a meeting of top officials on Monday to discuss the possibility of recognizing the independence of separatist territories in eastern Ukraine backed by Russia. Separatist leaders urged Putin to recognize them as separate nations and sign friendship treaties considering military help to shield them from what they characterized as a continuing Ukrainian military attack in televised speeches. Last week, Russia’s lower house made the same request. Moscow has developed strong relations with pro-Russian rebels who control large swaths of eastern Ukraine’s Donbas area. Still, it denies being involved in their almost eight-year conflict with Ukrainian…

G20 advise: Finance ministers from the world’s largest nations advocated for a careful and well-coordinated approach to the pandemic’s recovery on Friday.  According to Indonesian central bank Governor Perry Warjiyo, finance ministers and top financial institutions of the Group of 20 major economies agreed about the need to cautiously calibrate moves by the US and other countries to combat inflation by raising interest rates and unwinding other metrics to buffer economies from recurring waves of coronavirus outbreaks.  “We agreed that a well-coordinated and well-considered normalization program is required to maintain the global financial system,” Warjiyo told reporters in an online…

In the current fiscal year, India’s gem and jewelry exports are estimated to hit $40 billion. Mr. Piyush Goyal, speaking at the opening ceremony of the India International Jewelry Show (IIJS) signature 2022, organized by the gem and jewelry export promotion council (GJEPC), predicted that gem and jewelry exports would rise to 6.5 percent in 2021-22, compared to pre-covid levels. “Our gold and diamond trades account for around 7% of our GDP and employ more than 50 lakh people.” addressing over video conferencing, Goyal said. According to the minister, the government intends to make the gems and jewelry industry self-sufficient…

Excitement among fans is spine-chilling, as Netflix announces the release date of the successful show Formula 1: Drive to Survive. Much awaited fourth season would carry on the successful legacy of the previous three seasons; the fourth season would release on March 11 this year. The production level is said to be unprecedented. One of the all-time great title fights between Max Verstappen and Lewis Hamilton, a 22 race battle was intense. There was intense action throughout, with McLaren taking the only one-two finish of the season at Monza, Hamilton storming through the grid in the Sao Paulo Sprint and…

On Wednesday, the Indian Finance Ministry believed that this year might as well come to a close with an economic reset characteristic of a post-pandemic world. It went on to say that the Union Budget’s objective to asset creation will re-energize the virtuous cycle of investment and crowd in private capital. “Once the uncertainty and concern generated by the Covid-19 virus subside, consumption will increase, allowing the private sector to step in,” according to the finance ministry’s economics section. External geopolitical and economic shocks, on the other hand, might jeopardize the economic recovery, according to the report. Despite the third…

Despite another high inflation print, the NSE and Wall Street’s key indexes climbed Tuesday morning as investors assessed news that some Russian military forces will begin returning to their regular barracks after finishing training near the Ukrainian border. After the report of lessening the Ukraine conflict, the Sensex rises 1736 points. Even as global markets remained on edge amid rising Russia-Ukraine tensions, domestic equities indexes rebounded on Tuesday from their most significant sell-off in ten months, backed by advances in IT, auto, banking, and FMCG sectors. Concerns that the Kremlin would approve a move to invade Ukraine as soon as…

ABG Shipyard Ltd and its proprietors have been charged with defrauding banks of Rs 228.42 billion ($3.03 billion) by India’s government investigating agency. ABG Shipyard Fraud Case: A forensic inspection report it got from the banks two years ago showed instances of fraud in April 2012 and July 2017, according to the report, which was uploaded on the Central Bureau of Investigation’s site. ABG Shipyard can not be contacted for comment and did not react to an email sent to them right away. The shipbuilder, one of India’s “dirty twelve” extremely indebted enterprises by the central bank, has gone into…