Monday , August 8 2022

Market Movers: Market Movers: Oil prices rise in Saudi supply cut dialogue. 16 months nearest dollar; Chhattisgarh Assembly elections and others


Here is a description of the top macro triggers that can move the market on Monday. This report was collected from the agency feed.

Saudi oil prices rose 1% in December
Saudi Arabia's largest exporter, Saudi Arabia, has risen about 1 percent on Monday after it announced a decline in supply in December as a measure to prevent a market downturn that fell 20 percent since October. Brent crude oil futures contract LCOc1 climbed 93 cents, or 1.3 percent, to $ 71.11 a barrel on the previous GMT. WTI crude futures for the week ended at $ 60.73 a barrel, up 0.9 cents from last weekend. Saudi Energy Minister Khalid al-Falih announced yesterday in December that the kingdom is reducing its supply of 500,000 barrels a day. However, no agreement has yet been reached on broader output cuts.

Chhattisgar election

The vote at the first stage of the Chhattisgarh election began in eight districts affected by the national fallout from 7 am on Monday. Voting in the state takes place in two stages through 90 constituencies, with the first stage held under the shadow of Naxal's warnings and attacks.

RBI-Govt Press Conference
There is no harm in the relationship between New Delhi and Mint Street, but there is progress in two areas, including lending help to small businesses and selectively solving some of the weakest bank lending rates, the report said. It is understood that RBI agreed to develop a loan restructuring package for SMEs after analyzing the data of the lending bank. Second, the regulator will consider reviewing the PCA rules for banks that have shown some improvement in their finances.

Exports 16 sectors if there are 30 sectors in minus zone
More than half of the 30 sectors surveyed by the Department of Commerce showed negative exports in September. Total exports in September fell 2.15% to $ 27.95 billion due to the underlying shock. Outbound shipments of 16 key sectors, including rice, tea, coffee, tobacco, engineering, leather, spices, cashews, fruits and vegetables, aquatic products and jewelry and jewelery,

NBFC has raised credit demand to a five-year high.
Despite the overall rise in lending rates, for the first time in five years, bank credits posted a 14.41% health increase for two weeks until October 26. This growth is the highest in five years since it was achieved by the system in October 2013 at 16.6%, and it has been reported that demand for NBFC has increased.

16-month high in US dollars
The Dollar, which was built up last week, soared to its highest level in 16 months on Monday. Merchants expect the US Federal Reserve to strengthen monetary policy. The dollar index .DXY rose 0.12% on Monday to 97.02, slightly below the 16 – month high of 97.2 on October 31. The dollar index rose for the fourth consecutive week.

Motown had the worst record of Diwali sales.

The major carmakers in India have recently posted the worst of the deflationary period. The rise in fuel prices, rising interest rates, rising insurance costs, and rising equity markets are affecting consumer sentiment. Demand for flooring remained sluggish.

Poor sales

On the roll

Promoting sales of Diwali electronics and white goods
Sales of consumer electronics and white goods rebounded the Diwali season and grew 12-15% from last year, signaling the return of voluntary funding two years later. Top makers and retailers are believed to be the biggest contributors to sales in July, including a 10% cut in GST for electronic products, e-commerce discounts, expansion of consumer finance, and sales of premium products.

Govt plans to sell 149 small oil fields.
The government is considering selling ONGC's 149 small and limited oil and gas fields to private and foreign companies, allowing state-owned companies to concentrate on large areas. Anvil is a sort of expansion of a small field (DSF) bidding round and the production area of ​​the Oil and Gas Corporation (ONGC) is auctioned to a company that provides maximum production distribution.

Policies and More

  • The Securities and Exchange Commission of India (Sebi) has proposed a proposal to strengthen the rules for floating mutual funds, which have assets of 8 lakh crore or more in order to curb volatility in the flow of financial institutions facing defaults due to infrastructure defaults We are considering leasing and financial services (IL & FS).
  • Mining Baron and Former Secretary of State Gali Janardhan Reddy was arrested at the Central crime spot as a Sunday Rs-600 crore scam event. Reddy was arrested for Ambidant Marketing bribery.
  • Former Tata Group Executive Board member Anjuli Pandit will be sent to the National Chair of the Women's Committee, Lekha Sharma, a detailed description of the sexual harassment in the hands of the Women's Group CEO Said the plan.
  • 357 infrastructure projects (over Rs 15 billion each), which accounted for more than Rs 359 million for delays and other reasons, exceeded costs, the report said.
  • The Reserve Bank of India on Friday canceled 31 non-banking finance companies (NBFCs) for unspecified reasons.

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