Daily Stock Market News Snippets- 6 July 2022

Markets – Global & India

• The US Markets were mixed between negative 0.42% to positive 1.75%.
• The Brent Crude Oil price is currently at $105 per barrel.
• India’s Market Cap to GDP ratio currently stands at 104%.
• India’s 10-Year G-Sec Yield is at 7.39% and US 10-Year G-Sec Yield is at 7.39%.
• Rupee at 79.37 per dollar.

Global Economy:

• Euro plunges to a two-decade low of $1.0325 as economic fears mount.
• India missed the fifth largest economy in the World Tag by $13 billion.
• Brent Oil falls as recession fears increase fuel demand concerns.

Indian Economy:

• PLI Scheme can add 4% to GDP annually, says a new report.
• Services PMI rises to 59.2 in June, the highest since April 2011.
• The unemployment rate rises to 7.8% in June with the loss of 13 million jobs: CMIE
• Windfall Tax to generate nearly Rs. 94,800 Cr. for Government said Moody’s.
• India’s June Gold Imports treble from a year ago on price correction.

Company Update:

• HDFC twins’ merger: RBI awaits more data to decide on dispensation requests.
• Tata Motors wins a case against a firm that won the contract to supply e-buses to BEST (Mumbai).
• Britannia Industries shareholders reject Rs. 5,000 Cr. investment proposal.
• June automobile retail sales jump 27% on improved chip availability.
• Improved economic activity to support steel demand, and cement, said, Fitch.
• Hotel Industry sees growth in daily room rates and occupancies over the 2019 level.
• Export Levy Impact: Tata Steel delivers a drip of 2% YoY despite higher output.
• NTPC mines 61% more coal at 4.22 million metric tonnes in April-June.