Daily Stock Market News Snippets- 19 September 2022

1 min read

Markets – Global & India

  • The US Markets were down by -0.45% to 0.90%
  • The Brent Crude Oil price is currently at $91 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.27% and US’s 10-Year G-Sec Yield is at 3.45%.
  • Rupee at 79.65 per dollar.

Global Economy:

  • Goldman cuts US growth forecast for 2023 after rate path change from 1.5% to 1.1%.
  • British Pound hits a 37-year low as UK economy skids at $1.14.
  • Russia pursues active economic outreach with South Asia to meet key local demands.

Indian Economy:

  • Net Direct Tax Collection for FY23 grew 23% to over Rs. 7 Lakh Cr. between 1st April to 17th April 2022.
  • Current Account Deficit likely to remain within 3% of GDP: RBI Article
  • India’s Economic Growth to be sustained by consumer spending rebound.

Stock Specific News:

  • Adani’s foray is expected to trigger consolidation in the cement industry.
  • ONGC wants Government to scrap windfall tax, and use the dividend to tap into earnings.
  • FPIs infuse Rs. 12,000 Cr. in Indian equities in September in hopes of slow rate hikes.
  • The insurance industry will continue to see M&A deals and new entrants.
  • OLA does a U-turn; plans more experience centres to take the count to 200.
  • Firms starting to pass on rising cost amid pick-up in demand: RBI Study
  • Mahindra Group sells a 30% stake in its renewable arm for Rs. 2,317 Cr.
  • Amara Raja bets on EV Sector; expects turnover to touch Rs. 3,000 Cr. by 2025.
  • Voltas’ valuation lowest since January 2021 on demand concerns.

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