Daily Stock Market News Snippets- 30 August 2022

1 min read

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.

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