Daily Stock Market News Snippets- 21 October 2022

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.