Daily Stock Market News Snippets- 16 August 2022

2 min read

Markets – Global & India

  • The US Markets was up by around 0.40% to 0.62%.
  • The Brent Crude Oil price is currently at $94 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.29% and US 10-Year G-Sec Yield is at 2.78%.
  • Rupee at 79.51 per dollar.

Global Economy:

  • China resorts to interest rate cuts as data shows an ‘alarming’ slowdown. China home prices fall for 11th month as mortgage ‘boycott’ continues
  • US Economy was the worst performing of G-7 countries in the 2nd quarter    
  • JP Morgan Chase CEO sees up to 30% chance of ‘harder recession’ in the USA
  • Japan’s economy recovers to its pre-pandemic level in the second quarter

Indian Economy:

  • FinMin plans to review the exemption-free tax regime to make it more attractive
  • PM Narendra Modi calls for innovation in defence products.
  • Direct tax collection grows 40% driven by personal income tax from Apr-Jul
  • India $5-trn economy by FY29 only if it grows at 9% for 5 yrs: Ex-RBI Governor

Company Update:

  • M&M inaugurates its state-of-the-art EV design studio in the UK.
  • Q1 Results Review: Zomato, Paytm, Nykaa to focus on profitable growth
  • Inflationary impact on FMCG price and margin to continue in Q2: Industry
  • Godrej Properties eyes Rs. 8,000 Cr. sales revenue from a housing project in Delhi.
  • FPIs invest Rs 22k cr. in Indian markets in Aug as inflation concerns soften.
  • BPCL to spend Rs 1.4 trillion on petrochemicals, and gas business in next five years
  • Ola Electric to enter the electric car segment; to launch the first model by 2024.
  • Lupin revising product portfolio in the US to overcome price erosion impact

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