Daily Stock Market News Snippets- 28 September 2022

Markets – Global & India

• The US Markets were down by 0.25% to 0.43%
• The Brent Crude Oil price is currently at $84 per barrel.
• India’s 10-Year G-Sec Yield is at 7.34% and US’s 10-Year G-Sec Yield is at 3.95%.
• Rupee at 81.72 per dollar.

Global Economy:

• World Bank downgrades growth for East Asia and the Pacific to 3.2% in 2022.
• Germany urges citizens to avoid Christmas lights because of the energy crisis.
• UK markets have lost $500 billion since Liz Truss took over as PM.

Indian Economy:

• Government bonds inclusion into JP Morgan index pushed to next year: Report
• Even at $100 billion, FDI may not be sufficient to finance ballooning CAD.
• Net Direct Tax mop up rises 23% to Rs. 7.04 Lakh crore so far this fiscal.

Stock Specific News:

• LIC buys over a 2% stake in BPCL for nearly Rs. 1,598 Cr.
• BigBasket to raise $200 million at a valuation of $3.5 billion: Report
• Adani Group to invest $100 billion in a decade; focus on energy transition.
• Reliance Retail launches lifestyle departmental store format Centro
• Falling raw material costs to aid margin expansion for Asian Paints.
• Birla Corp to invest $1 billion over 8 years, raising capacity to 30 million tonnes.
• HDFC Bank launches festive scheme; home, personal, auto loans included.
• Top AMCs see a share of less-profitable passive schemes double in 3 years.
• Axis Bank to buy nearly 10% stake in Go Digit Life Insurance.