Markets – Global & India
- The Brent Crude Oil price is currently at $113 per barrel.
- India’s Market Cap to GDP ratio currently stands at 101%.
- The US 10-Year G-Sec Yield is at 3.23% while India’s 10-Year G-Sec Yield is at 7.5%.
- Nifty PE ratio at 18.92 and Sensex PE ratio at 20.95.
- Rupee at 77.92 per dollar while US Dollar index at 104.38.
- US Treasury Secretary Janet Yellen said that the US economy will be slow but the recession will not be evitable.
- US Economy might consider a tax holiday on Gasoline.
- Savings Rate currently in the US is around 6% which was 12.1% in the year 2021.
- Fed Chairman Powell said that US Digital Dollar could help maintain international primacy.
- Yen tanks as Bank of Japan stick to stimulus, caps volatile week for FX.
- India exits from the $3 Trillion market club and falls to 6th place in the global league. The position of India has been replaced by Saudi Arabia where this index is being benefited from rising crude oil prices.
- Foreign Portfolio Investors (FPIs) have sold equities worth Rs. 31,430 in June 2022 till now.
- Economists believe that normal monsoon and rate cuts are key factors to bring down inflation by year-end.
- As per RBI data of June 2022, Bank Credit Growth hits a 3-year high of 13.1% as the economy has opened the requirement of working capital is being normalized.
- Raw material price hike pinch India’s textile sector and apparel exports in FY23. Cotton prices have doubled from the pricing of the last year.
- Heavy discounts drive up India’s purchase of Russian Coal, despite sanctions.
- LTI COO said that the L&T Infotech-Mindtree merger likely is by December 2022.
- Price rationalization and consolidation are likely in the Indian Diagnostic space.
- Wipro Lighting merges commercial lighting, and seating solutions businesses.