Daily Stock Market News Snippets- 30 June 2022
2 min readMarkets – Global & India
- The US market remained flat at around negative 0.07% to positive 0.27%.
- The Brent Crude Oil price is currently at $112 per barrel.
- India’s Market Cap to GDP ratio currently stands at 103%.
- The US 10-Year G-Sec Yield is at 3.08% while India’s 10-Year G-Sec Yield is at 7.46%.
- The rupee is 78.92 per dollar.
- Nifty PE Ratio is at 19.55 while Sensex PE is at 21.47.
Global Economy:
- US Economy contracts 1.6% in the first quarter.
- US Bank on imports of Chinese products from Xinjiang upsets Xi’s dreams.
- Recession worries hand emerging markets the worst first half since 1998.
- EU to stop combustion engines by 2035.
- India is an important link between G7, G20, and BRICS.
Indian Economy:
- Rupee ends at a new low on relentless FIIs sell-off and slower RBI intervention.
- India steps up fuel imports amid shortage; Asia’s pool of supplies shrinks.
- War, US Inflation impact: Exports’ demand for Steel, apparel, Leather, etc. from big partners may taper off.
Company Update:
- HDFC raises Rs. 4,000 Cr. via 21-month paper at 7.28%; attracts bids of over Rs. 70,000 Cr.
- Japanese Chip maker Renesas Electronics broadens tie-up with Tata Group. Inks partnership with Tata Motors and Tejas Networks plans innovations centre with TCS.
- PVR restarts the CAPEX cycle and plans to open about 125 screens in FY23.
- Ultratech Cement paying for Russian Coal in the Chinese Yuan as per the report.
- Mukesh Ambani’s Daughter Isha is set to be named Chairperson of the Retail Unit.
- Mutual Fund Industry is largely underpenetrated in India said, Deepak Parekh. India’s MF to GDP Ratio stands at 16% against a global average of 74%.
- Tata Tech joins Foxconn-led Consortium to develop sustainable mobility.