Daily Stock Market News Snippets- 26 August 2022

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