Daily Stock Market News Snippets- 4 October 2022

Markets – Global & India

• The US Markets were down by 2.27% to 2.66%
• The Brent Crude Oil price is currently at $89 per barrel.
• India’s 10-Year G-Sec Yield is at 7.50% and US’s 10-Year G-Sec Yield is at 3.63%.
• Rupee at 81.50 per dollar.

Global Economy:

• UK PM takes U-Turn on tax cut for wealthiest to avert rebellion within party.
• Oil jumps nearly $4 as OPEC+ weighs biggest output cut since 2020.
• Turkey’s annual inflation hits a new 24-year high at 83.45% in September

Indian Economy:

• India’s economic growth to decline to 5.7% in 2022, says UNCTAD
• States borrowing cost rises for 3^rd week, jumps 12 bps to 7.77%.
• India remains a bright spot among global equity markets: Bank of America

Stock Specific News:

• TCS is set to win a $2 billion deal from BSNL for 4G and 5G roll-out.
• The success of new launches and margin improvement drive Eicher Motors.
• Gas price hike: CNG prices may go up by at least Rs. 8-12 per kg.
• Wipro, Infosys, Tech Mahindra revoke offer letters given to Freshers: Report
• Maruti Suzuki India vehicle production rises two-fold to 1,77,468 units in September
• ONGC, Oil India to gain most from gas price hike; IGL worst hit.
• Firms, and retail borrowers about fake portfolio managers offering assured returns.
• Suzlon promoters to subscribe entire contribution in the rights issue.