Daily Stock Market News Snippets- 15 June 2022

Markets – Global & India

• The US Markets have shown mixed reactions wherein the index was in the positive range of 0.18% to the negative zone of -0.5%
• The Brent Crude Oil price is currently at $121 per barrel.
• India’s Market Cap to GDP ratio currently stands at 103%.
• The US 10-Year G-Sec Yield is at 3.46% while India’s 10-Year G-Sec Yield is at 7.58%.
• Rupee at 77.98 per dollar while US Dollar index at 105.37.

Global Economy:

• US Treasury Bonds storm eases slightly but the bear market is still on the prowl.
• OPEC sees global oil demand growth slowing in 2023 as per the sources.

Indian Economy:

• India would become a $5 Trillion economy by 2026-27 as per Chief Economic Advisor.
• Fitch expects RBI to raise interest rates to 5.9% by December end.
• WPI inflation spikes to a record 15.88% in May as the heatwave stokes food prices.
• Despite the pandemic and lockdown, India’s unemployment rate fell to 4.2% in FY21.

Company Update:

• Adani and Total Energies join hands to invest $50 billion in Green Hydrogen.
• Ashok Leyland arm Switch Mobility to raise $300 Million, unveils e-bus platform.
• Bajaj Auto defers shares buyback proposal, stock declines over 6%.
• CCI approves proposed acquisitions of AirAsia India by Air India.
• PhonePe sells over 10 Lakh 2-wheeler insurance policies on its platform.
• OMCs are under pressure; HPCL and BPCL hit 52-week lows, and IOCL slips 3%.
• Windfall for BCCI from IPL Media Rights auction; reported a threefold increase to RS. 48,390 Cr. at e-auction.
• Bata eyes a bigger franchisee footprint to surpass 2019 sales performance.
• LIC increases its stake in Capri Global Capital, Hero MotoCorp, and HUL.