Business News Updates | 23-10-2023
Business News for October 23, 2023
India
- ICICI Bank Q2 profit up 36% to Rs 10,261 cr
- India’s manufacturing sector witnesses 36% growth in job postings
- Blackstone-backed ASK group launches new Rs 1,500 cr real estate fund
- Kotak Mahindra Bank, Fairfax India want 2-3 year window from RBI for IDBI Bank merger
Global
- Global stocks mixed on concerns over rising interest rates and inflation
- Oil prices fall on worries about global recession
- Apple to launch new iPhone 15 series in September 2024
- Elon Musk completes Twitter takeover
Other notable news
- The World Bank has cut its global economic growth forecast for 2023 to 2.9%, from its previous forecast of 3.2%.
- The International Monetary Fund (IMF) has warned that the global economy is facing a “fragile recovery” and that the risk of a recession has increased.
- The US Federal Reserve is expected to continue raising interest rates in an effort to combat inflation. This could lead to a slowdown in economic growth.
- The war in Ukraine continues to have a negative impact on the global economy, causing energy prices to rise and disrupting supply chains.
Financial Market News for October 23, 2023
Global
- Global stocks mixed on concerns over rising interest rates and inflation
- Oil prices fall on worries about global recession
- Gold prices rise as investors seek safe haven
- US dollar strengthens against major currencies
India
- Sensex falls 826 pts, Nifty below 19,300
- Rupee slips 6 paise to 83.18 against US dollar
- NDTV shares decline by 6% on weak earnings
- ICICI Bank shares gain 3% on strong quarterly results
Other notable news
- The US Federal Reserve is expected to continue raising interest rates in an effort to combat inflation. This could lead to a slowdown in economic growth and volatility in financial markets.
- The war in Ukraine continues to have a negative impact on the global economy, causing energy prices to rise and disrupting supply chains. This is also contributing to uncertainty in financial markets.
- Investors are closely watching the earnings season for corporate guidance on the outlook for the global economy and corporate profits.