Daily Stock Market News Snippets- 10 August 2022

Markets – Global & India

• The US Markets were down between -0.18% to -1.19%.
• The Brent Crude Oil price is currently at $96 per barrel.
• India’s 10-Year G-Sec Yield is at 7.35% and US 10-Year G-Sec Yield is at 2.78%.
• Rupee at 79.55 per dollar.

Global Economy:

• US Bond Yields inch higher as the market awaits Wednesday’s crucial inflation data.
• US Productivity tumbles again in the second quarter, labor costs up strongly.
• Russia’s war keeps hitting the EU economy, pushing up inflation and posing a recession threat.

Indian Economy:

• India’s July fuel demand rises 6.1% YoY despite the increased price.
• The value of EPFO’s Rs. 1.59 Lakh Cr. in ETFs rises to Rs. 2.26 Lakh Cr.
• Mark-to-Market provisions: Bank may knock on RBI doors again.
• Infra Assets worth over Rs. 1.62 Lakh Cr. to be monetized this fiscal said Finance Ministry.

Company Update:

• Tata Chemicals Q1 Net Profit jumps 86% to Rs. 637 Cr. revenue up by 37%.
• IT Spends in good shape see continued strength in the US, EU Markets said Infosys CEO.
• Airtel to launch 5G services this month, and cover every town by 2024 said MD.
• HDFC Bank gets the National Housing Bank nod for merger with a subsidiary bank.
• IHCL Q1 Results: Revenue jumps 267% YoY to Rs. 1,266 Cr., PAT at Rs. 181 Cr.
• GAIL to double share capital; adds specialty chemicals, and clean energy to business.
• The government will re-evaluate the airfare cap depending on the ATF profit movement said Scindia.
• MRF reports a 30% drop in Q1 PAT on cost pressures.
• Indian Fintech Market touch $1 Trillion in AUM and $200 billion in revenues by 2030 as per the reports.