Daily Stock Market News Snippets- 28 July 2022

Markets – Global & India

• The US Markets were up by 1.37% to 4.06%.
• The Brent Crude Oil price is currently at $102 per barrel.
• India’s 10-Year G-Sec Yield is at 7.34% and US 10-Year G-Sec Yield is at 2.76%.
• Rupee at 79.85 per dollar.

Global Economy:

• Fed raises rates by 75 bps (0.75%) to double down on Inflation. Fed rejects speculation that US Economy is in a Recession.
• The US Economy is seen narrowly averting back-to-back contractions in Q2.
• US Fed Rate hike intensifies market risks for Asia’s Central Banks.
• Google’s Parent Company Alphabet reports weaker earnings and revenue.

Indian Economy:

• Union Cabinet approves BSNL revival plan worth Rs. 1.64 Lakh Cr.
• EV Industry may create 5 Cr. indirect jobs by 2030 as per IVCA-EV-Induslaw Report.
• RBI is to go for a 35 basis points hike at next week’s monetary policy meeting, as per the report.

Company Update:

• Tata Motors Q1 Loss widens to Rs. 5,007 Cr. amid chip woes, China lockdown.
• Bajaj Finance’s first-quarter net profit surges 159% YoY to Rs. 2,596 Cr.
• Maruti Suzuki logs Q1 Profit of Rs. 1,013 Cr.; clocks highest ever exports.
• Q1 Results: Private Bank’s net profit rises 47% on a fall in provisions.
• DGCA orders Spicejet to operate only half of its flights for 8 weeks on the grounds of degraded safety.
• IT Companies’ margins decline to a decade-low of 23.2% in the June quarter.
• In a first since 2010, Domestic Investors overtake FPIs as shareholders. FPIs at 24.8% whereas MF (9.5%)+Individuals(9%)+Financial Institutions (7.1%) hold at 25.6%