Daily Stock Market News Snippets- 24 June 2022

2 min read

Markets – Global & India

  • The US market was up by around 0.64% to 1.62%.
  • The Brent Crude Oil price is currently at $110 per barrel.
  • India’s Market Cap to GDP ratio currently stands at 101%.
  • The US 10-Year G-Sec Yield is at 3.08% while India’s 10-Year G-Sec Yield is at 7.42%.
  • Nifty PE ratio at 19.3 and Sensex PE ratio at 21.26.
  • The rupee is at 78.16 per dollar and US Dollar Index is at 104.38.

Global Economy:

  • Crude Oil Inventory clocks biggest weekly rise in 5 months.
  • Germany to enter Phase 2 of Emergency Gas Plan as per sources.
  • Western Sanctions are ‘Weaponizing’ World economy, China’s XI Jinping says ahead of BRICS Summit.

Indian Economy:

  • Indian Economy is expected to grow by 7.5% in FY23- PM Modi at BRICS Business Forum.
  • India aims to keep FY23 Fiscal Deficit at last year’s level i.e., at 6.7% as per the report.
  • India’s Russian Oil imports jump 50 times; now account for 10% of all imports as per the officials.
  • India reports a 13.5% rise in engineering exports of $9.79 billion in May 2022.
  • FII ownership of Indian Stocks is at a 5-year low level.

Company Update:

  • HUL to take further price hikes despite volumes hit.
  • Sacked fund manager demands Rs. 54 Cr. in damages, sues Axis Mutual Fund.
  • Reliance Industries seeks new technologies to make cheaper Green Hydrogen.
  • To mark Gautam Adani’s 60th Birthday, the family pledges Rs. 60,000 Cr. to Charities.
  • Vodafone India defers Rs. 8,837 Cr. AGR dues payment by 4 years.
  • At a first Tata’s Electric four-wheeler catches fire, and the government orders a probe.
  • Accenture beats estimates to post $16.16 billion revenue in March to May quarter.

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