Daily Stock Market News Snippets- 7 October 2022

1 min read

Markets – Global & India

  • The US Markets were down by 0.68% to 1.15%
  • The Brent Crude Oil price is currently at $94 per barrel.
  • India’s 10-Year G-Sec Yield is at 7.48% and US’s 10-Year G-Sec Yield is at 3.82%.
  • Rupee at 82.36 per dollar.

Global Economy:

  • IMF warns of higher recession risk and a darker global outlook in 2023.
  • UK pension funds almost collapsed amid market meltdown: Bank of England. UK mortgage rate climbs above 6%.
  • World currency reserves shrink by $1 trillion in record drawdown.

Indian Economy:

  • World Bank downgrades India’s economic growth forecast to 6.5% for FY23.
  • Services PMI at 54.3 in September; slowest expansion in 6 months amid weak demand.
  • Finance Ministry cuts August 2022 spending.

Stock Specific News:

  • Titan sees 18% sales growth in the September quarter; adds 105 new stores.
  • Cost of spending on digital transformations plateauing: HDFC Bank Parag Rao
  • HCL Tech to train up to 18,000 techs, and consulting professionals on Google Cloud
  • Poonawalla Fincorp AUM grows 21% YoY to Rs. 3,270 Cr. in the September quarter.
  • Dabur India flags up to 200 bps margin hit in Q2 as inflation bites.
  • Airtel rolls out 5G Plus in eight cities, with no SIM change required.
  • China may be closing in on the top-10 FPI spot in India, shows RTI data

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