Daily Stock Market News Snippets- 11 July 2022

Markets – Global & India

• The US Markets were flat on Friday.
• The Brent Crude Oil price is currently at $107 per barrel.
• India’s Market Cap to GDP ratio currently stands at 106%.
• India’s 10-Year G-Sec Yield is at 7.41% and US 10-Year G-Sec Yield is at 3.10%.
• Rupee at 79.33 per dollar.

Global Economy:

• China unveils plans to spur car demand and may extend EV tax break.
• Recession angst spurs pivot to emerge world’s growth engines.
• Fed hawks back 75-basis points July hike, still see the soft landing.

Indian Economy:

• Inflation is expected to cool from October 2022 said RBI Governor.
• India’s FOREX Reserves fell by $5 billion in the week of July 1.
• The commodities slump is set to give India relief from Inflation.
• ATF Crisis in Sri Lanka turns an opportunity for South India Airports and Indian OMCs.

Company Update:

• Telecom bristle at the prospect of Adani poaching their 5G enterprise business.
• With Europe slowing, TCS says North America to drive its growth in FY23.
• M&M is open to investing in EV battery cell makers to secure supplies says the CEO.
• FMCG firms are expected to see strong revenue growth, led by price hikes in Q1.
• FPIs raise the ante by driving up allocation to Oil & Gas, Auto Stocks.
• India adds 51 million new mutual fund investors accounts in the June quarter.
• FPIs take out Rs. 4,000 Cr. from equities in July, and the pace of selling slows.
• Tata Motors Global Wholesales up 48% to 3,16,443 units in the April-June quarter.
• Tata Tech plans IPO by the fiscal end, the first by Tata Group in 18 years.
• Banks’ Q1 Net Profit growth is estimated at 47% as lending stays strong.
• LIC gains a 2% market share in New Business Premium in the April-June quarter.