Daily Stock Market News Snippets- 5 August 2022

Markets – Global & India

• The US Markets were mixed ranging between -0.26% to +0.41%.
• The Brent Crude Oil price is currently at $94 per barrel.
• India’s 10-Year G-Sec Yield is at 7.16% and US 10-Year G-Sec Yield is at 2.69%.
• Rupee at 79.19 per dollar.

Global Economy:

• The Bank of England raises rates by most since 1995 even as long as recession looms.
• Germany needs to slash gas use more than any other EU state as per the reports.
• Amid soaring energy prices, UN General Secretary urges a transition to renewables.

Indian Economy:

• India should gradually withdraw fiscal, monetary stimulus says IMF.
• India diversifying its oil import sources said S&P.
• Companies raise funds via CP to lock in lower rates ahead of RBI policy.
• Call grows among market participants for a shift in RBI stance to neutral.

Company Update:

• L&T Group aims Rs. 2.7 Lakh Cr. revenue by FY26 said Chairman AM Naik.
• FPIs raise bets on FMCG stocks; prune holdings in energy & IT.
• Tiger Global sells a 2.34% stake in Zomato and sells 18.5 Cr. shares.
• Falling raw material prices, and demand recovery drive gains for Bosch stock.
• Adani Enterprises Q1 Results: Net Profit rises 73% to Rs. 469 Cr.
• Indigo’s fuel cost, weak rupee woes.
• Sun Pharma, Cipla’s US show tops Dr. Reddy’s Lupin in Q1.
• Dabur India Q1 net profit flat on high input costs.
• EV Registrations hit a monthly high in July 2022.
• G-Sec Rally re-tumbles on fears of rate hike pause.
• Tata Steel to invest Rs. 1,000 Cr. in Neelanchal Ispat Nigam.