Daily Stock Market News Snippets- 1 August 2022

Markets – Global & India

• The US Markets were up by 0.97% to 1.88%.
• The Brent Crude Oil price is currently at $103 per barrel.
• India’s 10-Year G-Sec Yield is at 7.32% and US 10-Year G-Sec Yield is at 2.65%.
• Rupee at 79.20 per dollar.

Global Economy:

• UK braces for the biggest hike in the interest rates in 27 years as per the report.
• France’s GDP bounces back in Q2 after a negative Q1 owing to foreign trade.
• China factory activity sees shock contraction on Covid-19 outbreaks.
• Amazon reduces headcounts by 1,00,000; sees stabilization in the workforce.

Indian Economy:

• Centre’s fiscal deficit at Rs. 3.52 Lakh Cr. for April-June i.e., 21% of FY23 target.
• India’s FDI Inflow hits an all-time high of over Rs. 6 Lakh Cr. in FY22.
• Inflation eats into India’s rural demand while green shoots become visible.
• India Pharma Sector exports rise 8% to $6.26 billion in the first quarter.

Company Update:

• Adani raises $5.25 billion from Global Banks to fund the acquisition of Ambuja, ACC.
• FPIs return to Indian Equities with Rs. 5,000 Cr. investment in July after 9 months.
• IDFC First Bank reports the highest-ever profit at Rs. 474 Cr. in the June quarter.
• IOC sold petrol at Rs. 10 a litre loss, diesel at Rs. 14 in Q1FY23 as per the report.
• Ashok Leyland expects the commercial vehicle industry to grow at a fast pace.
• JSW Energy targets 10 GW capacity by FY25, acquisitions to fuel growth.
• EPFO defers the decision to hike the equity investment cap from 15% to 20%.
• HDFC Bank to raise Rs. 2.7 Lakh Cr. for the merger.
• RIL’s retail arm is on a hiring overdrive.