Daily Stock Market News Snippets- 16 August 2022

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 2^nd 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