Daily Stock Market News Snippets- 30 August 2022

Markets – Global & India

• The US Markets were down by around 0.57% to 1.02%
• The Brent Crude Oil price is currently at $102 per barrel.
• India’s 10-Year G-Sec Yield is at 7.23% and US’s 10-Year G-Sec Yield is at 3.09%.
• Rupee at 79.92 per dollar.

Global Economy:

• Crude Oil prices edge higher on the prospect of supply cuts by OPEC+ countries.
• China shuts down World’s largest electronic market after Covid-19 spike.

Indian Economy:

• India bond yields end higher as US Fed’s hawkish stance unnerves investors.
• Rupee at a new low of 80.14 per dollar as Fed’s Powell talks tough on Inflation.

Stock Specific News:

• Reliance AGM Highlights:
  • Mukesh Ambani announces Rs. 3.5 Lakh Cr. investments
  • Mega Expansion in New Energy business, Rs. 75,000 Cr. for Petchem.
  • Reliance unveils Rs. 75,000 Cr. plan to boost Oil-to-Chemical business.
  • Jio to invest Rs. 2 Lakh Cr. in 5G; Pan-India rollout by December 2023.
  • Reliance to enter FMCG business this year, partner 1 crore merchant in 5 years.
  • Meta partners with Reliance Jiomart to offer grocery shopping on Whatsapp.
• L&T Tech Services wins a 5-year deal from BMW group in the Infotainment domain.
• Grasim earmarks Rs. 3,117 Cr. Capex for existing business for FY23: KM Birla
• Foray into paints, B2B e-commerce is set to transform Grasim: Birla
• BPCL targets net zero, 10 GW of renewable energy by 2040.