Daily Stock Market News Snippets- 27 October 2022

Global Economy:

• Top US companies like Alphabet, Microsoft, and Facebook have given gloomy results.
• Real Wage Hike is in negative territories due to inflation: Survey
• Brent Crude Oil is at $94 per barrel owing to production cut activities and the easing of COVID norms in China.

Indian Economy:

• India’s CPI Inflation might fall below the 6% mark by end of FY23.
• Bank’s Saving A/c and Fixed Deposit Account Interest are expected to rise.
• Rising deposit rates to hurt bank profits in the coming quarters.
• The Financial & IT sector witnessed selling pressure of FPIs in the first fortnight of October, total FPIs selling stood at Rs. 7,457 Cr.