Daily Stock Market News Snippets- 19 October 2022

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.