Market Live Updates Today: Trends on SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 147 points.

ATF price hiked by 3.3%; fifth increase this year

Jet fuel prices on Tuesday were increased by 3.3 per cent to all-time high levels across the country, in step with international oil prices surging to over seven-year-high. This is the fifth hike in jet fuel or Aviation Turbine Fuel (ATF) prices this year following an unrelenting rise in global oil prices, but petrol and diesel prices remained unchanged for a record 116th day in a row, coinciding with electioneering to elect new governments in states like Uttar Pradesh and Punjab.

ATF price was hiked by Rs 3,010.87 per kilolitre or 3.22 per cent to Rs 93,530.66 per kl in the national capital, according to a price notification of state-owned fuel retailers. Jet fuel, which makes up for almost 40 per cent of the running cost of an airline, has this year surged to new highs.

FII and DII data

Foreign institutional investors (FIIs) continued selling of shares in Indian equities, as they have net offloaded Rs 3,948.47 crore worth of shares. However, domestic institutional investors (DIIs) compensated the FII outflow by buying shares worth Rs 4,142.82 crore, as per provisional data available on the NSE.

February GST collections at Rs 1.33 lakh crore, down 5.6% from January

Goods and Services Tax (GST) collections for February declined to Rs 1.33 lakh crore, down 5.6 percent from the first month of 2022, data released on March 1 by the finance ministry showed. Of the total, Central GST was Rs 24,435 crore, State GST was Rs 30,779 crore, Integrated GST was Rs 67,471 crore, and compensation cess was Rs 10,340 crore.

GDP growth slowed to 5.4% in Oct-Dec 2021, FY22 growth estimated at 8.9%

India's GDP growth slowed down to 5.4 percent in October-December 2021 from 8.5 percent in the previous quarter, data released on February 28 by the Ministry of Statistics and Programme Implementation showed.

The statistics ministry also said India's GDP will likely grow by 8.9 percent in FY22, down from its first advance estimate of 9.2 percent, released in early January 2022. The GDP growth rate of 5.4 percent for the third quarter of FY22 is below expectations. As per a Moneycontrol survey, the GDP was seen rising by 6.2 percent on a year-on-year basis last quarter.

Investments through P-notes decline to Rs 87,989 crore in January

Investments in the Indian capital market through Participatory notes (P-notes) dropped to Rs 87,989 crore at the end of January and experts believe that foreign investors will continue with their negative stance amid the Ukraine crisis.

According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt and hybrid securities -- was at Rs 87,989 crore by the end of January compared to Rs 95,501 crore at December-end. At the end of November, the investment level was at Rs 94,826 crore.

Of the total Rs 87,989 crore invested through the route till January 2022, Rs 78,271 crore was invested in equities, Rs 9,485 crore in debt and Rs 232 crore in hybrid securities. Abhay Agarwal, Founder and Fund Manager at Piper Serica, a Sebi-registered PMS, said there was a 7.8 per cent fall in value of equity P-notes in January against an almost flat return by Nifty.

Centre's fiscal deficit rose to 58.9% of FY22 target in April 2021-January 2022

The Centre's fiscal deficit rose to 58.9 percent of the FY22 target in April 2021-January 2022, data released on February 28 by the Controller General of Accounts showed. In April-December 2021, the fiscal deficit had amounted to 50.4 percent of the full-year target.

The latest numbers on the government's finances come after the 2022 Budget said the Centre would exceed its fiscal deficit target of 6.8 percent of Gross Domestic Product (GDP) by 10 basis points. However, even at 6.9 percent, the targeted fiscal deficit for the current financial year would represent a huge improvement from last year.

Ukraine war may delay LIC IPO to next FY, likely reassessment of March listing this week

The much-awaited initial public offering of state-run insurance giant Life Insurance Corporation of India (LIC) could be pushed to the next financial year, as the government is likely to hold a meeting to reassess the IPO timing in view of the escalating Russia-Ukraine war, sources told CNBC TV18 on March 1.

The meeting for a likely reassessment of LIC listing will be held "this week", a government official privy to the development told the news channel.

Finance Minister Nirmala Sitharaman has "stated the government position" on the matter, the official said, referring to her remarks during a recent interview with Hindu Business Line, where she suggested that the emerging global situation may warrant a relook at the IPO timing.

Oil jumps 3% on choked Russian supply as trade finance dries up

Oil prices rose on Wednesday as sanctions on Russian banks following Moscow's invasion of Ukraine hampered trade finance for crude shipments and some traders opted to avoid Russian supplies in an already tight market.

Brent crude futures climbed $3.55, or 3.4%, to $108.52 a barrel at 0135 GMT, scaling highs not seen since July 2014. US West Texas Intermediate (WTI) crude futures were up $3.75, or 3.6%, to $107.16, after peaking at $107.55 in early trade, the highest since July 28, 2014.