There was already an agreement that it would be status quo on rates and accommodative stance before the RBI monetary policy on 08th April 2022. The ongoing geopolitical not only made most commodities very close but together with created a supply chain struggles due to the Black Sea embargo. Additionally, the IMF has also trimmed India’s forecast for the whole-year growth by 80 bps from 9% to 8.2%.

Union Finance Minister Nirmala Sitharaman said Friday that the Ukrainian war has directly hit the food grains sector which has led to a global shortage. Countries like India are facing difficulties from the World Trade Organization in particular cereals. The minister added that the World Bank gave assurance that it is looking at it very positively and hopefully it would be sorted.

Russia and Ukraine combined supply 30% of the world’s wheat. This caused wheat prices to skyrocket, together with the prices of many other food commodities. This further horrifies people worldwide with unprecedented food insecurity. This highlights the need to renew the food system, as many are dependent on just a handful of mass-produced grains, including wheat, rice, and corn.

The price analysis of Tezos today represents a bearish market sentiment in the wake of an intra-day high hit at $3.17. The coin has pulled back since then, to the $3.00 level. As of now, Tezos is trading within a descending channel. This negative move could see its prices retesting support at the $2.8 level in the coming 24 hours. Further, the crypto sees major resistance at the $3.2 level.

U.S. quarterly reports' flood next week are optimistic by investors. Including those from mega-cap growth behemoths and will confirm a robust profit outlook for corporate US. Nearly 180 firms in the S&P 500, value around half of the benchmark index's market value. These comprise of the four biggest U.S. companies by market capitalization, Apple, Mircrosoft, Amazon, Google parent Alphabet.

The biggest inflow of money since the second quarter of 2015 was when the investors drained $19.8 bn into hedge funds in the first quarter. According to data provider HFR, This was attracted by gaining some funds during volatile markets. Additionally, around $13 bn poured into event-driven hedge funds. This was majorly due to special situation funds and distressed assets.

Motilal Oswal Financial Services expects ICICI Bank's Q4 PAT will increase 46.5% on an annualised basis to Rs 6,450 crore as it expects NII to jump 23.6% from a year earlier to Rs 12,890 crore. The brokerage firm said in a report that ICICI bank is an emerging leader in the SME and retail segments fueled by continued investments in technology and partnerships with new ecosystem players.

Indian FM Nirmala Sitharaman expressed confidence that quickening inflation will be controlled as the nation's economy appeared sound. The economy of India started its downward movement even before the pandemic, mainly due to a crisis in its shadow banking sector. Then COVID-19's massive shock led to its biggest-ever contraction. IMF this week estimated an 8.2% growth in India's economy.

After a two-week rally of gold prices approaching near the $2000 per ounce at the beginning of the week, Gold witnessed a halt. Yellow metal future dipped for June 2022 and settled at ₹52,264 per 10 gm on MCX, around ₹3500 lower from its all-time high of ₹56,191 levels. Experts say skeptical bulls stepped back leading to an unwinding of long trades which dragged down gold prices.

Two months after the Russia-Ukraine war beat global agricultural trade. Also, after a local shortage and hiking prices, Indonesia is poised to ban exports of edible oil. Further, adding to a lifeboat of crop protectionism around the world. Indonesia evaluates for over a third of global vegetable-oil exports, with China and India, which are the two most famous countries, among its top buyers.

Bitcoin is currently priced 💵 at Rs 31.69 lakh, with the dominance of 40.79%. CoinMarketCap data suggests it is a 0.29% decline over the day. On April 23, the Cryptocurrencies traded in the red. The global crypto market cap logged a 1.82% fall over the last day to settle at $1.84 trillion. The total crypto market volume over the last 24 hours is $80.67 bn, indicating a 24.14% fall.

The state-run lenders have been asked by the finance ministry on Friday to bolster their balance sheets and tap the capital market. An executive aware of the developments added that the government eyes banks to push lending in the productive sectors of the economy. 📊 Public sector banks logged a profit of ₹31,820 cr in FY21, marking the highest in 5 yrs.

In about 10 days, commercial paper rates witnessed a 15-20 basis points surge which lowered the amount of funds banks park with the central bank and raise working capital loans from commercial banks. It is likely that lesser rated companies will move towards bank funding rather than floating CPs, given that bank funding is still more expensive than the market rates.

Several analysts have lowered their target prices on HCL Technologies stock to factor in cuts in margin estimates, whereas some have maintained a buy or equivalent rating on it. 📉 HCL shares gained 3% during the day but failed to sustain the gains and ended up at 0.2% at ₹1,101.80 on Friday. Investec, Credit Suisse, CLSA, ICICI Securities and Nomura have reduced target prices by 2-13%.

UK prime minister Boris Johnson said a bilateral free-trade deal between Britain and India could be wrapped up by October. Both countries have agreed to it on Friday. This development came after his visit to New Delhi. Johnson discussed ways to boost security ties with India with his Indian counterpart Narendra Modi who buys more than half of its military hardware from Russia.