Daily Stock Market News Snippets-8 September 2022

Markets – Global & India

• The US Markets were up by 1.40% to 2.14%
• The Brent Crude Oil price is currently at $87 per barrel.
• India’s 10-Year G-Sec Yield is at 7.18% and US’s 10-Year G-Sec Yield is at 3.27%.
• Rupee at 79.65 per dollar.

Global Economy:

• Oil slumps below $90 for the first time since January 2022 on demand fear.
• China’s export growth sinks in August, imports shrink due to inflation.
• Putin says Russia to stop supplying energy if Western price caps are imposed.

Indian Economy:

• The US, and EU demand slowdown, global uncertainties impacting Indian exports.
• 5G to add Rs. 1 Lakh Cr. additional revenue every 3 years to the telecom industry.
• India is aspiring to take international trade to $2 trillion by 2030 says, Piyush Goyal

Stock Specific News:

• Maruti to enter the mid-SUV segment to lift market share.
• ITC to pursue ‘Asset Right’ strategy for its hotel business: Chairman
• FMCG companies ramp up supply chains and marketing ahead of the festive season.
• Former RBI Governor suggests a 10-year road map for privatization of all PSBs.
• Bank of Maharashtra mops Rs. 710 Cr. via AT-1 bonds at an 8.74% coupon rate.
• Private Life Insurance outpace LIC in August. LIC revenue growth at 8.74% vs. private players at 25%.
• Consumer Durables sector revenue to rise 15%-18% to cross Rs. 1 Lakh Cr. mark in FY23.
• Reliance Retail buys into ‘desi power’ by acquiring local consumer brands.