Daily Stock Market News Snippets- 27 June 2022

Markets – Global & India

• The US market was up by around 2.68% to 3.34%.
• The Brent Crude Oil price is currently at $107 per barrel.
• India’s Market Cap to GDP ratio currently stands at 102%.
• The US 10-Year G-Sec Yield is at 3.13% while India’s 10-Year G-Sec Yield is at 7.44%.
• The rupee is 78.25 per dollar.

Global Economy:

• Recession is challenging Inflation as the top fear among stock and bond investors.
• US aims to raise $200 billion as part of the G7 rival to China’s Belt and Road.
• Banking Body “Bank for International Settlements” (BIS) urges a decisive wave of global rate hikes to stem inflation.
• US, UK, Japan, and Canada to ban Russia Gold Imports amid Ukraine War.

Indian Economy:

• India Inflation is likely to exceed the top of RBI Band until December said, Governor Shaktikanta Das.
• Indian Economy may touch $30 Trillion in the next 30 years said, Piyush Goyal.
• FPIs exodus continues; pulls out Rs. 46,000 Cr. from Indian Equities in June 2022.

Company Update:

• Tata Power Renewables commissions a 120 MW Solar Project in Gujarat.
• Adani Group firm Kutch Copper raises Rs, 6,071 Cr. for 1 mn tonne unit.
• As per the report, 28% GST is likely on Casinos, Online Gaming, and Horse Racing.
• FMCG firms’ margins may face pressure next quarter as commodity prices rise.
• RIL is in talks to raise $8 billion for the Boots deal.
• Board of Canara Bank approves Capital Raising up to Rs. 9,000 Cr. in FY23.
• Net Profit of Manufacturing Companies surged by 50.2% in FY22 said RBI.
• Tata Chemicals Europe opens UK’s largest Carbon Capture Plant.