Daily Stock Market News Snippets- 7 October 20221 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.
- 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.
- 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