Daily Stock Market News Snippets- 21 July 2022
2 min readMarkets – 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.