Daily Stock Market News Snippets- 24 August 2022

1 min read

Markets – Global & India

  • The US Markets were down by around 0.22% to 0.47%
  • The Brent Crude Oil price is currently at $100 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.28% and US 10-Year G-Sec Yield is at 3.05%.
  • Rupee at 79.85 per dollar.

Global Economy:

  • Energy crisis deepens in Europe as a high temp, drought hits power supply
  • Euro zone business activity contracted for the second straight month in August: Flash PMI
  • Oil prices climbs as tight supply moves back into focus.

Indian Economy:

  • Merchandise exports likely to be around $470-480 bn in FY23: Commerce Secy
  • RBI aims to bring down inflation to 4% in two years: RBI Governor Shaktikanta Das
  • RBI set to hike interest rates by another 50-60 bps, inflation key concern.

Company Update:

  • Adani media arm to purchase 29.18% stake in NDTV, launch an open offer
  • Adani’s ports-to-power conglomerate ‘deeply overleveraged’: CreditSights
  • Reliance Retail enters general trade with its own FMCG grocery brands
  • Tata Motors signs PPA with Tata Power to develop an onsite solar project
  • HDFC Bank plans Rs 2,500-crore tier-1 bond sale amid firm credit offtake
  • SpiceJet exploring stake sale to raise Rs 2,000 cr, says CMD Ajay Singh
  • Indian EV market to hit annual sales of 1.7 Cr. units by 2030: Report
  • Hindalco Industries earmarks about $8-bn Capex over next 5 yrs: K M Birla
  • Radhakishan Damani to be at the helm of Rakesh Jhunjhunwala Trust

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