Daily Stock Market News Snippets- 19 October 2022

1 min read

Markets – Global & India

  • The US Markets were up by 0.90% to 1.14%
  • The Brent Crude Oil price is currently at $89 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.43% and US’s 10-Year G-Sec Yield is at 4.01%.
  • Rupee at 82.23 per dollar.

Global Economy:

  • Fed rate hike, inflation could drive the US economy into a 1990-style recession, Fitch warns.
  • US’ new export controls on chips shake China’s semiconductor industry.
  • Soaring US Dollar spreads pain worldwide cost of living increases.

Indian Economy:

  • Despite economic recovery, real rural wage growth remains flat in FY23.
  • India-Russia JV hopes for $5 billion in supersonic missile exports by 2025.
  • India’s policy hawk sees the end of aggressive hikes amid growth fears.

Stock Specific News:

  • NSE floats consultation on index components ahead of HDFC-HDFC Bank merger.
  • Tata Motors bags order for 200 e-buses; to be deployed in Jammu, Srinagar.
  • Tata Elxsi dips 14% in 2 days, hits 3-month low past weak Q2 revenue growth.
  • Polycab India’s Q2 net profit jumps 37% to Rs. 270 Cr., and revenue is up by 10.8%.
  • Nifty’s dollar returns trumped global indices over the last decade.
  • M&As hit a record on HDFC, Adani, and LTI-Mindtree deals at $148 billion till September 2022.
  • Competition for funds drives SBI to hike the savings deposit rate by 30 bps.
  • Jio overtakes BSNL to become the largest landline service provider in August.

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