Daily Stock Market News Snippets- 21 July 2022

2 min read

Markets – Global & India

  • The US Markets were up by 0.15% to 1.58%.
  • The Brent Crude Oil price is currently at $106 per barrel.
  • India’s Market Cap to GDP ratio currently stands at 106%.
  • India’s 10-Year G-Sec Yield is at 7.45% and US 10-Year G-Sec Yield is at 3.03%.
  • Rupee at 79.99 per dollar.

Global Economy:

  • World shares hit 3-week high as recession fears ease, dollar hovers low. Basically due to strong US Corporate Earnings and the expected resumption of Russian gas supply to Europe.
  • UK Inflation surges to a new 40-year high of 9.4% amid rising fuel prices.
  • Putin said Russia will honor its gas commitments to Europe but warns of New Nord Stream curbs.

Indian Economy:

  • RBI prepared to spend $100 billion on defending the rupee, says the report.
  • Government slashes windfall tax on petrol, diesel, and ATF as crude prices drop.
  • Spike in imports and a fall in exports widen India’s trade deficit with China.

Company Update:

  • Blackrock and Mubadala to invest in Tata’s renewable arm via the right issue.
  • FMCG Exports to make a substantial contribution to ITC’s growth said, Sanjiv Puri.
  • E-Scooter maker Ather says high costs pushing back profit timeline.
  • Wipro Q1 Results: Net Profit falls 21% to Rs. 2,564 Cr. as expenses rise. Operating Margin at 15%.
  • FPIs, Mutual Funds marginally increase their stake in Paytm in June 2022 quarter.
  • Windfall tax cut to normalize equity multiples of RIL, ONGC, says Morgan Stanley.
  • Adani Enterprises scarcely tracked by brokerage set to enter Nifty50.
  • Maruti takes the road to electrification with a strong hybrid Grand Vitara.
  • IRDAI empowers insurers to empanel hospitals for cashless facilities.

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