Daily Stock Market News Snippets- 12 August 2022

Markets – Global & India

• The US Markets remained flat.
• The Brent Crude Oil price is currently at $99 per barrel.
• India’s 10-Year G-Sec Yield is at 7.31% and US 10-Year G-Sec Yield is at 2.87%.
• Rupee at 79.61 per dollar.

Global Economy:

• S&P 500 at 3-months high on rising bets for smaller rate hikes.
• ‘Worst Likely Over’ for emerging Asian currencies as US Fed hike bets ease.
• OPEC sees the global oil market tipping into surplus this quarter.

Indian Economy:

• No chance of recession, India to be the fastest growing economy this year, as per the report.
• S&P says India’s external position is “Very Strong”, and can absorb some deterioration.

Company Update:

• Apollo Hospitals’ net profit falls 35% to Rs. 324 Cr. in the June quarter.
• Oil India Q1 Net Profit triples to Rs. 1,555 Cr. on oil, gas price boost.
• Page Industry’s net profit surges multi-fold to Rs. 207 Cr. in Q1FY23.
• Godrej Properties eyes Rs. 8,000 Cr. sales revenue from a housing project in Delhi.
• FMCG companies face a problem as consumers flock to low-price packs.
• FPIs pour over Rs. 12,000 Cr. into Indian equities in the last 10 days.
• Lower bad loans push PSU bank’s profitability in the June quarter.
• Aviation stocks fly high as Government lifts domestic airfare caps from August 31, 2022.