Daily Stock Market News Snippets- 18 October 2022

Markets – Global & India

• The US Markets were up by 1.86% to 3.43%
• The Brent Crude Oil price is currently at $91 per barrel.
• India’s 10-Year G-Sec Yield is at 7.41% and US’s 10-Year G-Sec Yield is at 3.99%.
• Rupee at 82.17 per dollar.

Global Economy:

• Goldman Sachs sees deeper UK recession after tax U-Turn.
• Oil prices steady as recession fears counter positive Chinese Signals.
• Chinese Government delays GDP data release due to Tuesday, no reason given.

Indian Economy:

• Headline inflation might have peaked in September: RBI Report
• 66% of CEOs in India expect a recession in 2023; layoffs are on the cards.
• Solar Manufacturing PLI to create 90GW additional capacity in India: R K Singh

Stock Specific News:

• PVR back in Red, post Rs. 71 Cr. loss in Q2 amid Bollywood flop show.
• Big ticket items driving growth in consumer durables this festive season.
• ACC logs surprise net loss of Rs. 87 Cr. on high fuel and power costs.
• Indian IT Companies cut hiring amid the US, Europe recession fears: Report
• Britain in talks with British Steel & Tata to secure Industry’s future.
• BPCL and HPCL hit 52-week lows on concerns of large losses in Q2FY23.
• Bond yields ease as MPC minutes hint at slower interest rate hikes.
• Pidilite may enter Nifty 50 once HDFC gets taken off after the merger.
• Merger overhand to delay HDFC Bank’s re-rating cautions Analysts.
• Flexicap, Multicap schemes maintain large-cap skew amid global uncertainty.