Daily Stock Market News Snippets- 26 August 2022

1 min read

Markets – Global & India

  • The US Markets were up by around 1% to 1.67%
  • The Brent Crude Oil price is currently at $99 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.29% and US’s 10-Year G-Sec Yield is at 3.04%.
  • Rupee at 80.13 per dollar.

Global Economy:

  • With no buyers, Citigroup is to wind down operations in Russia.
  • China adds 1 trillion yuan more of stimulus to rescue the economy and bolster growth.
  • African nations offer India lithium as repayment for aid.

Indian Economy:

  • India has ample forex to withstand pressure on credit worthiness: S&P
  • Bank credit growth accelerates to 14.2% in June quarter: RBI data
  • Affordable 5G services to be rolled out in India by October 12: Centre

Stock Specific News:

  • IOC to spend Rs. 2 Lakh Cr. for net-zero target by 2046: Chairman
  • Debt-funded acquisitions can put pressure on Adani Group ratings: S&P
  • Mittal family increases stake in Airtel, group arm to buy 3.3% stake from Singtel.
  • Bata India extends its footprint but performs below expectation in Q1.
  • HDFC Bank to invest Rs. 120 Cr. in Go Digit-Life for a 9.94% stake.
  • Indian IT firms cut staff bonuses as the US, and European clients tighten budgets.
  • Market Value of FPI holdings to Investment at 3X over a decade: Motilal Oswal

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