Daily Stock Market News Snippets- 23 August 2022

1 min read

Markets – Global & India

  • The US Markets were down by around 1.91% to 2.55%
  • The Brent Crude Oil price is currently at $97 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.27% and US 10-Year G-Sec Yield is at 3.08%.
  • Rupee at 79.86 per dollar.

Global Economy:

  • The UK faces the threat of 19% inflation in 2023 because of high winter-fuel prices
  • OPEC+ may cut output as the disconnect grows between the oil futures market & fundamentals.
  • US 10-Year Bond Yields above 3%; Dollar Index at 109 plus levels
  • Fed to slow to 50 bps hike in September; Recession worries grow: Reuters Poll

Indian Economy:

  • Private sector Capex likely to lift off this fiscal says RBI study
  • At $29 bn, the Indian fintech sector now has a 14% global funding share: Report
  • Retail Inflation likely to ease below 6% by March Quarter: Economists

Company Update:

  • Infosys cuts average variable payout to 70% for Q1 on margin pressure
  • Auto component sector sees record turnover of Rs 4.2 trillion in FY22: ACMA
  • Toyota reboots India plan, sets sights on doing it differently with hybrids this time
  • Godrej Agrovet signs MoU with Assam, Manipur, and Tripura to promote oil palm cultivation.
  • Zomato halts new Pro and Pro Plus memberships
  • ITC hits a 47-month high in a weak market on high volumes
  • Financial creditors to Future Retail place claims worth Rs. 21,000 Cr.
  • Banks step up credit card play ahead of the festive season
  • Radhakishan Damani to be at the helm of Rakesh Jhunjhunwala Trust

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