Daily Stock Market News Snippets- 29 July 2022

2 min read

Markets – Global & India

  • The US Markets were up by 1.03% to 1.21%.
  • The Brent Crude Oil price is currently at $102 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.33% and US 10-Year G-Sec Yield is at 2.68%.
  • Rupee at 79.57 per dollar.

Global Economy:

  • US GDP shrank 0.9% in Q2, its second straight drop. Technically, Now the US is in recession.
  • German Inflation hits 8.5%, hits again driven by high energy prices.
  • Shares rise, US Treasury yields fall as US Economy shrinks.
  • Yellen says Economy ‘Resilient’ but flags ‘Too High’ Inflation.

Indian Economy:

  • Rupee, Bonds gain despite 75 bps US Fed rate hike to tackle inflation.
  • India’s Gold demand for 2022 to be over 800 tonnes, says World Gold Council.
  • Banking Liquidity Surplus shrinks on RBI’s defense of Rupee.
  • Manufacturing Sector gets $21 billion in FDI in FY22, which increased by 76% YoY.
  • Bank Credit rises 12.9%, deposits by 8.4, as per RBI Data.

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%

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