Daily Stock Market News Snippets- 2 August 2022

2 min read

Markets – Global & India

  • The US Markets were down by 0.14% to 0.8%.
  • The Brent Crude Oil price is currently at $100 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.24% and US 10-Year G-Sec Yield is at 2.57%.
  • Rupee at 78.96 per dollar.

Global Economy:

  • Euro hits a 2-week high as the European economy holds steady.
  • Global Economy: Factories are squeezed by higher prices and weak demand.
  • Alibaba moves a step closer to getting booted off stock exchanges.
  • The first ship carrying 26,000 tonnes of Ukrainian grain leaves the port of Odesa.

Indian Economy:

  • GST Collection jumps 28% YoY in July to the second highest ever at Rs. 1.49 Lakh Cr.
  • No question of recession or stagflation in India said Finance Minister Nirmala Sitharaman
  • India’s manufacturing activity expands at the quickest pace in 8-month PMI at 56.4 in July 2022.
  • The 10-Year G-Sec of India is at a 3-month low, rupee gains.

Company Update:

  • ITC sees brand-based growth, net profit rises 34% to Rs. 4,389 Cr.
  • 5G Spectrum auction ends: Reliance emerges top bidder at Rs. 88,000 Cr.; Airtel at Rs. 43,084 Cr.
  • Zomato losses ease to Rs. 186 Cr. in Q1; revenue up 67% to Rs. 1,413 Cr.
  • Rising rates to aid bank profits, but dump loan demand.
  • Auto Sales show positive trends in July as global chip headwinds ease.
  • Cement firms to see lowest operating margins in the seven years says ICRA.
  • EV Growth, market share to forge gains for auto component maker Sona Comstar. Margins could improve given softening commodity prices.
  • Tiger Global and SoftBank trim investments in India by over a third in 2022.

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