Business News Live: Editorji brings you the top 5 market headlines on March 31

It is the last of the fiscal year and it has been a roller coaster ride but no time for recap as one gears for a fresh set of tax rules to kick in from tomorrow. Russia Ukraine war continues and the tremors continue to be felt in global markets, here are the top headlines:

Massive oil release by United States?
As per reports US President Biden is considering releasing roughly a million barrels of oil a day from U.S. reserves, for several months, to combat rising fuel prices and shortages.

Petrol, Diesel prices up by almost Re 1
Continuing to add to the tally of hikes, petrol and diesel prices are up by 80 paise across the country taking the total price hike to Rs 6.4/lt in the kast 2 weeks

Telecom data, shocker from Jio
Jio, Vodafone lose subscribers, Airtel gains in Jan, shows Trai data. Reliance Jio, the country’s largest mobile service provider, saw a drop for the second consecutive month as its customer base declined by 9.3 million to 406.3 million

Stock Spotlight: IIFL Wealth
Bain Capital to acquire nearly 25% stake in IIFL Wealth. Subject to approvals, PE giant Bain will acquire the stake from General Atlantic Singapore Fund and FIH Mauritius Investments

Crypto Corner

Bitcoin is 9.5% in March, while Ethereum is up 17% for the same period. Talking about the financial year 2022, Ethereum has outperformed Bitcoin, as it has gained 86% in the year while Bitcoin lost 20%. Also, just a reminder, the 30% crypto tax will be effective from tomorrow, i.s April 1, 2022.