Daily Stock Market News Snippets- 21 October 2022

1 min read

Markets – Global & India

  • The US Markets were down by 0.30% to 0.80%
  • The Brent Crude Oil price is currently at $92 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.48% and US’s 10-Year G-Sec Yield is at 4.23%.
  • Rupee at 82.83 per dollar.

Global Economy:

  • Liz Truss resigns as UK Prime Minister
  • Pound & UK bonds jump on hopes of Truss departure will usher in a period of calm and fiscal prudence.
  • Japan’s Yen weakens past 150 per dollar for the first time since August 1990.
  • Oil prices rise on possible easing of Covid quarantine measure in China.

Indian Economy:

  • RBI interventions pull the rupee back from the new low against US Dollar.
  • Eyeing $5 billion in exports, $22 billion turnover in the defence sector by 2025: Defence Minister
  • Unseasonal rain and crop losses could keep India’s food inflation high.

Stock Specific News:

  • Bajaj Finance Q2 Results: Net Profit jumps 88% to Rs. 2,781 Cr.
  • Asian Paints Q2 Results: Net Profit rises 31% to Rs. 783 Cr., sales up 18.8%.
  • Tata Consumer Products Q2 Net Profit rises 36% to Rs. 389 Cr.; Revenue up by 11%.
  • Axis Bank’s Q2 net profit jumps 70% to Rs. 5,330 Cr. as provisions slide.
  • ITC Q2 results: Standalone net profit rises to Rs. 4,466 Cr.
  • IEX net profit falls 7% to Rs. 71.20 Cr. in the July-September quarter.
  • Canara Bank Q2 net profit jumps 89% to Rs. 2,525 Cr.; asset quality improves.
  • Telecoms may see steady Q2 as SUC saving aid margins, 5G updates key focus.

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