July 4, 2022 by BizWhiz Admin in Economy Snapshot 0 comments 242

General News

  • President Election 2022: BJP picks former Jharkhand Governor Draupadi Murmu; Opposition picks
    Yashwant Sinha; Voting to be held on July 18.
  • Rajya Sabha polls: BJP registers win in Haryana, Karnataka, and Maharashtra. Congress retains Rajasthan.
  • Agnipath: Centre to hire youth on a 4-year contractual basis for tri-services.
  • Protests erupt against ‘Agnipath’ scheme in many states; highways blocked; rail traffic disrupted.
  • G7 and its 5 partner countries, including India, pledge to protect free speech; PM Modi attends summit.
  • PM Modi meets UAE President Sheikh Mohamed; leaders reaffirm commitment to deepen partnership.
  • Vice President Venkaiah Naidu holds delegation level talks with top leadership of Gabon, Senegal & Qatar
  • Israel Defence Minister Benjamin Gantz reviews defence cooperation with PM Modi, Rajnath.
  • India, Vietnam ink military logistics support pact and vision document to expand defence ties.
  • Iranian Foreign Minister meets PM Modi, Jaishankar; talks focus on bilateral ties, connectivity.
  • India hosts 2-day special ASEAN-foreign ministers meet in Delhi.
  • 16th ASEAN defence ministers meet: Defence ministers agree to strengthen regional cooperation.
  • BRICS leaders show commitment to respect sovereignty, territorial integrity.
  • S Jaishankar holds discussion with Austrian and Spanish counterparts and Mauritius PM.
  • PM Modi chairs first National Conference of Chief Secretaries.
  • PM inaugurates projects worth over ₹3,000 crore in Gujarat.
  • India’s total COVID – 19 cases at 4.35 crore, death toll at 5.25 lakh; 67.2% fully vaccinated.
  • Health Ministry launches 2-month long COVID-19 vaccination drive Har Ghar Dastak 2.0 campaign.
  • Govt issues guidelines on monkeypox stress on surveillance, rapid identification, isolation.
  • Govt issues notification to link voter list with Aadhaar, makes electoral law gender neutral.
  • Uttarakhand Chief Minister Pushkar Dhami wins crucial Champawat bypoll, remains CM.
  • Eknath Shinde takes oath as Maharashtra CM as Uddhav Thackeray resigns ahead of floor test.
  • CM Patnaik shares Odisha’s achievements on food security at World Food Programme HQ in Rome.
  • Hardik Patel joins BJP after quitting Congress months ahead of Gujarat elections.
  • UP CM Yogi Adityanath lays foundation stone for second stage of Ram temple construction.
  • Bihar Cabinet gives nod for caste survey at cost of ₹500 crore; sets February 23 deadline.
  • West Bengal Assembly passes Bill to replace Governor with CM as Chancellor of State universities.
  • ED questions Rahul Gandhi on National Herald case; to depose Sonia Gandhi late July.
  • India successfully tests nuclear-capable Agni-4 and Prithvi-II ballistic missiles.
  • India’s latest communication satellite ISRO’s GSAT-24 successfully launched.
  • Northeast rains: Toll in Assam rises to over 150, more than 40 lakh residents adversely affected.
  • Jammu and Kashmir to host G-20 meetings in 2023, form 5-member coordination panel.
  • India grants e-visas to Sikhs, Hindus in Afghanistan in wake of Kabul gurudwara attack.
  • India-Bangladesh bus service resumes on four routes after 2-year hiatus due to COVID.
  • Global COVID caseload rises to 54.64 crore, fatalities at 63.34 lakh.
  • At least 1,000 dead as massive earthquake hits Afghanistan, Pakistan.
  • India, Israel, UAE and US form new I2U2 grouping, 1st summit next month.
  • US lifts Cuba flight restrictions imposed under former President Donald Trump.
  • US, Chinese defence ministers meet face-to-face, seeking to avoid misunderstandings.
  • US President Joe Biden signs first significant gun control law in decades.
  • European Parliament votes overwhelmingly to grant EU candidate status to Ukraine and Moldova.
  • France’s Macron, Germany’s Scholz and Italy’s Draghi discuss Ukraine’s EU integration prospects in Kyiv.
  • UK PM Boris Johnson discusses defense and security issues with Ukrainian President Zelensky in Kyiv.
  • US, Germany agree to supply advanced weapons to Ukraine as Russia closes in.
  • Russian missile attacks intensify across Ukraine after landmark NATO summit.
  • India delivers consignments of life-saving drugs, medical equipment and relief material to Sri Lanka.
  • Sri Lankan cabinet passes 21st Amendment to curtail powers of President.
  • Iran, EU agree to resume stalled 2015 nuclear deal talks with US.
  • FATF retains Pakistan on ‘grey list’, says will verify country’s compliance with ‘on site visit’.
  • China lifts two-year COVID visa ban on Indians, barring tourism and private trips.
  • Britain celebrates Queen Elizabeth II’s 70 years on the throne.
  • British Prime Minister Boris Johnson survives Conservative confidence vote.
  • Japan, NATO officials agree to step up military cooperation and joint exercises.
  • South Korea, US fire 8 ballistic missiles in response to North Korea tests.
  • French President Emmanuel Macron loses absolute majority in parliament in ‘democratic shock’.
  • PM launches 1st ever Chess Olympiad Torch Relay, India to host 44th Chess Olympiad.
  • Jyotiraditya Scindia announces first ever National Air Sports Policy 2022.
  • Olympic champion Neeraj Chopra wins gold at Kuortane Games in Finland.
  • Para Shooting World Cup: India wins 6 golds, 5 silvers and 1 bronze.
  • India’s R Praggnanandhaa wins Norway Chess Group A open chess tournament.
  • Deepak Punia wins bronze in U23 Asian wrestling championships 2022.
  • India vs Ireland: India wins 2-match series 2-0.
  • Bhuvneshwar Kumar recorded the most wickets in the powerplay in the history of the T20I format.
  • Ind vs SA, T20: India, South Africa draw T20 series.
  • Mithali Raj, Eoin Morgan announces retirement from all forms of international cricket.
  • ICC ODI Rankings: Babar Azam on top, Imam-ul-Haq surpasses Kohli; NZ pacer Boult remains on top.
  • French Open: Rafael Nadal his 14th title, 22nd Grand Slam; World No. 1 Iga Swiatek wins Women’s title.

 

Business News

  • 47th GST Council meet: Council clears proposal to remove tax exemptions on some items.
  • Finance Ministry releases third instalment of revenue deficit grant of ₹7,183 crore to 14 states.
  • Govt announces extension of GST compensation cess levy till March 2026.
  • Govt hikes MSP for kharif crops by 4-9% for 2022-23; paddy up by ₹100/qtl.
  • Cabinet approves 5G auctions by July-end, gives nod to private networks.
  • Govt launches design-linked incentive scheme, extends telecom PLI by 1 year.
  • PM Modi launches ₹6,000 crore scheme for MSMEs, CBFTE scheme for first-time exporters.
  • PM Modi inaugurates 3rd UP Investors Summit, lays foundation stone for projects worth ₹80,000 crore.
  • PM unveils rail and roadways projects worth ₹27,000 crore in Bengaluru.
  • Nitin Gadkari unveils NH projects worth ₹13,000 crore in Bihar and ₹1,300 crore in Rajasthan.
  • Nitin Gadkari approves Bharat NCAP draft; cars in India to get safety rating based on crash tests.
  • Centre asks states to scrap old diesel buses, replace them with EVs.
  • Telangana CM KCR inaugurates T-Hub 2.0, the world’s largest innovation campus in Hyderabad.
  • Govt receives ₹497 crore from GAIL buyback of 5.7 crore shares for ₹1,083 crore.
  • Govt approves 8.1% interest  on  FY22  EPF deposits, lowest in 4 decades.
  • Indian Railways flags off first train under Bharat Gaurav scheme from Coimbatore to Shirdi.
  • Jet fuel price hiked by 16.3%, up 91% in the last six months.
  • Prices of branded palm oil, sunflower and soybean oil have been reduced by up to ₹15 per litre.
  • Nirmala Sitharaman launches EASE 5.0 ‘Common reforms agenda’ for Public Sector Banks.
  • RBI raises repo rate by 50 bps to 4.90%; forecasts 6.7% inflation for 2023; pegs GDP growth rate at 7.2%.
  • RBI hikes limit on OTP approval for auto-debits to ₹15,000; proposes to link credit cards to UPI.
  • RBI extends tokenisation deadline to Sep 30 and compliance with new card rules to October 1, 2022.
  • Govt designates ICICI Bank’s IT resources as critical information infrastructure.
  • World Bank approves $245 million loan to modernise India’s railway logistics infrastructure.
  • India, EU re-launch Free Trade Agreement negotiations after 9-year lull.
  • WTO agrees partial patent waiver for COVID-19 vaccines, reach deal in digital products and fishing.
  • India, Egypt partner for pharma trade, research, regulatory cooperation.
  • G7 touts $600 billion global infrastructure plan to rival China’s formidable Belt and Road Initiative.
  • Inflations in US and UK hit new 40-year high of 8.6% and 9.1% in May respectively.
  • US Fed hikes interest rate by 75 bps to 1.75%, the biggest increase in 28 years.
  • Sri Lanka struggles to secure new fuel shipments as supply runs dry
  • EXIM Bank extends short-term LoC of $55 million to Sri Lanka for fertiliser imports.
  • Sri Lanka grants 40-year tax relief for China-backed Port City investments.
  • Pakistan secures deal with IMF to restore stalled $6 billion aid.
  • Pakistan signs $2.3 billion loan facility agreement with Chinese consortium of banks.
  • UK announces new tranche of trade sanctions against Russia.
  • World Bank board approves $1.49 billion additional funds for crisis-hit Ukraine.
  • Russia’s oil export revenue soars to $98 billion as war in Ukraine rages on.
  • EU imposes partial ban on Russian oil; signs gas deal with Israel, Egypt.
  • G7 announces ban on import of Russian gold amid war with Ukraine.
  • Jio-bp partners with MG Motor and Castrol to set up charging and service infrastructure for EVs.
  • Maruti Suzuki sets up Asia’s largest carport type solar plant at Manesar facility.
  • Ford India extends production at Chennai facility till end-July 2022 amid protests by workers.
  • Sony, Honda sign JV to sell electric cars by 2025.
  • Valeo, Atul Auto arm & Honda Powerpack Energy join hands for three-wheelers electrification in India.
  • Adani, Ambani make ₹1.68 trillion investment pledge under the ‘Invest Rajasthan’ outreach program.
  • Vedanta puts Sterlite Copper’s smelter in Tuticorin for sale.
  • DCGI approves Biological E’s COVID-19 vaccine Corbevax as heterologous booster dose.
  • FDA authorizes Moderna and Pfizer-BioNTech COVID-19 Vaccines for Children down to 6 months of age.
  • Biological-E gets WHO nod to be additional facility for making Johnson & Johnson COVID vaccine.
  • US announces $122 million for India to address challenges posed by infectious diseases.
  • Microsoft shuts down its oldest browser, Internet Explorer after 27 years from June 15.
  • TCS partners with QIAGEN in driving its Cloud transformation strategy.
  • Meta, Microsoft, other tech giants form metaverse standards body, except Apple.
  • Vodafone Idea defers ₹8,837 crore AGR dues payment, gets option to pay interest via equity.
  • VPN provider Surfshark to shut down servers in India over govt’s new CERT-In rules.
  • IPL TV rights sold for ₹23,575 crore for 2023-27 cycle, digital for ₹20,500 crore to 2 separate broadcasters.
  • Tencent buys stake worth ₹2,060 crore in Flipkart from its co-founder Binny Bansal.
  • Bitcoin plunges below $20,000 for first time since Dec 2020; Ether breaches $1,000.
  • WhatsApp Partners With RazorpayX to Power Seamless Cashback Transactions via UPI.
  • Zomato acquires Blinkit for ₹4,447 crore in all-stock deal.
  • Ant Group launches digital wholesale bank in Singapore to serve regional SMEs.
  • Government appoints Alok Kumar Choudhary as SBI Managing Director.
  • RBI approves appointment of R Subramaniakumar as MD and CEO of RBL Bank.
  • Govt appoints Anand Mahindra, Pankaj R Patel, Venu Srinivasan and Dholakia on RBI central board.
  • Bajaj Chairman and MD Shekhar Bajaj steps down.
  • IRS officer Nitin Gupta appointed new CBDT chairman.
  • Mukesh Ambani steps down as director of Reliance Jio, son Akash Ambani takes over as chairman.
  • Meta COO Sheryl Sandberg steps down after 14-year tenure at Facebook.
  • Parameswaran Iyer, ex-bureaucrat who ran Swachh Bharat Mission appointed as CEO of NITI Aayog.

 

WORLD INDICES
Indices 30-Jun 31-May % 1M 04-Jan % since Jan
BSE 53019 55566 -4.58% 59856 -11.42%
NSE 15780 16585 -4.85% 17805 -11.37%
DOW 30775 32990 -6.71% 36800 -16.37%
NASDAQ 11029 12081 -8.71% 15623 -29.41%
FTSE 7169 7608 -5.76% 7505 -4.48%
Nikkei 26393 27280 -3.25% 29302 -9.93%
Hang Seng 21860 21415 2.08% 23290 -6.14%
Straits Times 3102 3232 -4.03% 3181 -2.48%
Shanghai 3399 3186 6.66% 3632 -6.43%
USD 78.97 77.64 1.71% 74.55 5.93%
Euro 82.65 83.18 -0.63% 84.15 -1.78%
GBP 95.90 97.81 -1.95% 100.91 -4.96%
Yen/100INR 0.58 0.60 -3.01% 0.64 -9.21%
Gold 50569 50850 -0.55% 47950 5.46%
Silver 58509 61124 -4.28% 62247 -6.01%
Crude Brent $ 109.67 116.21 -5.63% 79.77 37.48%
Crude Nymex $ 106.28 115.22 -7.76% 76.80 38.39%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
30-Jun 33425 27843 11701 37665 12159
31-May 35487 29679 11587 38713 12604
% 1M -5.81% -6.19% 0.99% -2.71% -3.53%
04-Jan 36840 39371 11139 37800 14041
% since Jan -9.27% -29.28% 5.04% -0.36% -13.40%

INDIAN TRADE(USD MILLION)
Exports in ($ Bn) 38.94
Imports ($ Bn) 63.22
FDI 5030
Government Bond 10Y 7.40%
GDP YoY 4.10%
Inflation Rate 7.04%
Forex Reserves ($ Bn) 590590
IIP % -9.20%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII(Rs. crore) MF(Rs. crore)
Equity (48,899) 20,579
Debt (1,759) (5,225)
Total 1 M (50,659) 15,354
Total Since Jan (2,12,344) 1,04,697
Equity (2,01,169) 1,17,816
Debt (11,175) (13,119)

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