Daily Stock Market News Snippets- 18 August 2022

Markets – Global & India

• The US Markets were down by around -0.50% to -1.25%
• The Brent Crude Oil price is currently at $93 per barrel.
• India’s 10-Year G-Sec Yield is at 7.18% and US 10-Year G-Sec Yield is at 2.88%.
• Rupee at 79.36 per dollar.

Global Economy:

• Soaring food & energy costs drive UK Inflation to 10.1%
• Fed sees interest rate hikes continuing until inflation eases substantially.
• Fed minutes show more rate hikes in the pipeline, but the pace could be slow

Indian Economy:

• India’s Oil demand to rise by 7.7% in 2023, fastest growing in the world: OPEC
• 69% of Jobs in India under threat of automation by 2040: Report
• Indian Govt. Bonds may get added to a global index next year $30 billion in positive flows expected

Company Update:

• Airtel pays Rs. 8,312 Cr. ahead of schedule for 5G spectrum dues
• Retailers reported sales growth of 18% in July compared to pre-pandemic levels
• UTI AMC denies reports of stake sale of Tata Group
• Paint stocks are in demand as crude oil prices cool off
• No impact of higher lending rates on home loan demand: SBI Chairman
• M&M is in talks with different states in India for setting up an EV production site
• DMart eyes fivefold growth despite aggressive expansion by Reliance Retail
• IDBI Bank Stake Sale: TPG, Carlyle Group & Fairfax tapped Government to gauge interest.