Daily Stock Market News Snippets- 23 September 2022

Markets – Global & India

• The US Markets were down by 0.35% to 1.37%
• The Brent Crude Oil price is currently at $90 per barrel.
• India’s 10-Year G-Sec Yield is at 7.35% and US’s 10-Year G-Sec Yield is at 3.71%.
• Rupee at 81.06 per dollar.

Global Economy:

• Dollar hits new 24-year peak to Yen as Bank of Japan stays Dovish.
• Bank of England unveils 50 bps rate hike to 2.25%.
• Swiss National Bank ends Europe’s sub-zero rate era with a 75 bps hike.

Indian Economy:

• Rupee hits new low against Dollar as Asian peers tumble on Fed Rate view.
• India and US-10 Year G-Sec yield spread lowest in 12 years.
• India plans to set up strategic gas reserves amid the global energy crisis.

Stock Specific News:

• SBI is least efficient in Asia-Pacific due to the high cost-to-income ratio: Study
• LIC hits the lowest level since listing; down 32% from the issue price.
• M&M is in talks to raise up to $500 million for the EV push.
• Infosys hits 52-week low, slips 14% in one month amid growth worries.
• Whirlpool India expects the washing machine market to see double-digit growth.
• World’s second biggest fortune fails to halt rout in bonds of Adani firms.
• Swiggy and Zomato make it to the Top 100 global online food delivery firms.
• Agrochemical firms may face headwinds due to extreme weather conditions.
• TCS asks employees to work in an office for at least 3 days a week.