Weekly News 9th March 2022

1. Weekly
News
09th March 2022
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SEBI Registered Investment Adviser (INA200006628)

2. Snapshot
Credit Suisse
Downgrades its
Position on Indian
Equities
US Bans Russian Oil &
Gas Imports
AMFI Launches
Internship Programme
India to Set Up a
Rupee Trade Account
with Russia
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SEBI Registered Investment Adviser (INA200006628)

3. Credit Suisse Downgrades its position
on Indian Equities to “Underweight”
o Credit Suisse cites India to be the most vulnerable Asian country
to hike in oil price.
o Credit Suisse states, higher oil prices will adversely affect
India’s current account, elevate inflationary pressures, and
increase sensitivity to Fed rate hikes.
o Given India’s robust EPS revisions and positioning in credit and
property cycles, Credit Suisse may consider opportunities to
tactically re-enter the Indian market in the future.
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SEBI Registered Investment Adviser (INA200006628)

4. US Announces Ban on Russian Oil & Gas
Imports
o The executive order blocks new purchases of liquified natural gas,
coal, and oil and gives companies 45 days to shut their existing
contracts for Russian supplies.
o JP Morgan estimates the impact on the Russian Economy to be immediate
with a 12.5% contraction from peak to trough.
o The ban is likely to result in soaring energy costs which could
elevate inflation levels above 7% on both sides of the Atlantic
adversely affecting purchasing power of households.
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SEBI Registered Investment Adviser (INA200006628)

5. AMFI Launches an Internship Programme to Increase MF
Distributors in India
o The programme aims to groom qualified individuals to become MF
distributors.
o Participating interns in this scheme will be empanelled with a
sponsoring AMC for 12 months.
o During this period, the sponsoring AMC will support interns in
acquiring the mandated NISM certifications and provide training in
client acquisition and key operational aspects.
o The programme will be piloted under a SEBI approved regulatory sandbox
project. The initiative aims to ramp up the MF distribution footprint
in the country and thereby widen the MF investor base in the country.
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SEBI Registered Investment Adviser (INA200006628)

6. India Plans To Set Up A Trade Account With Russia
• The aim is to mitigate the adverse impact of sanctions on trade
between the 2 countries.
• In case of sanctions, settlement of trade related transactions will
not be possible in USD, hence setting up a rupee trade account has
been proposed by the Govt.
• The plan intends to get Russian banks and companies to open accounts
with selected state-run banks for settlement of trade related
transactions.
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SEBI Registered Investment Adviser (INA200006628)

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