Daily Stock Market News Snippets- 19 July 2022

2 min read

Markets – Global & India

  • The US Markets were down by 0.7% to 0.8%.
  • The Brent Crude Oil price is currently at $105 per barrel.
  • India’s Market Cap to GDP ratio currently stands at 107%; Nifty 50 PE: 20.11.

Global Economy:

  • US Markets start on a positive note as Goldman Sachs profits beat estimate, easing rate-hike bets drive Wall Street higher. Bank of America posts a drop in quarterly profit as dealmaking slumps.
  • Apple to slow hiring and spending for some teams next year.
  • Russia seeking oil payments from India in Dirham shows the document.

Indian Economy:

  • RBI says growth is resilient, and inflation coming down in the State of Economy Report.
  • The Indian Economy’s strong fundamentals will help it withstand global headwinds as per the Credit Suisse report.
  • Morgan Stanley cuts India’s FY23 GDP forecast to 7.2%.
  • At $1 billion travel accounted for half of the Outward Remittances in May 2022.
  • Government, RBI moves help banks recover Rs. 8.6 Lakh Cr. bad loans in the last 8 financial years.
  • RBI wants Government to prohibit cryptocurrencies: Finance Minister Nirmala Sitharaman tells Parliament
  • EPFO is likely to enhance the investment limit in equities to 20% as per the report.

Company Update:

  • Jio submits an earnest money deposit of Rs. 14,000 Cr., Airtel, Vi, and Adani Group submit around Rs. 5,500 Cr., Rs. 2,200 Cr., and Rs. 100 Cr. respectively.
  • FPI legroom is not enough for a big MSCI boost says Macquarie Capital.
  • Bhavish Aggarwal led Ola to invest $500 million in EV battery R&D unit.
  • L&T gains 3% as the realty arm signs 3 projects worth $1 billion in MMR.
  • M&M hikes stake in combine harvester maker Sampo Rosenlwe Oy to 100%.
  • LG first in India to sell over 10 Lakh dual-inverter ACs in 6 months.
  • Abu Dhabi Investment Authority (ADIA) eyeing a minority stake in Aditya Birla’s health insurance arm as per the report.
  • Protection Segment to be 22%-25% of the product mix says ICICI Pru CEO.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.