Daily Stock Market News Snippets 1 June 2022

Markets – Global & India

• US Markets were down by around -0.41% to -0.67%.
• The Brent Crude Oil price is currently at $116 per barrel,
• The US 10-Year G-Sec Yield is at 2.87% while India’s 10-Year G-Sec Yield is at 7.41%.
• India’s Market Cap to GDP ratio currently stands at 109%
• Nifty50 PE Ratio is at 20.44 and Sensex PE is at 22.53.

Currency & Dollar Index:

• Indian Rupee currently stands at Rs. 77.60 per dollar.
• The dollar index is at 101.81 from the earlier 101.70.

Economy- Global & India:

• India’s Q4 GDP grows at 4.1% and expands by 8.7% in FY22.
• IMD raises the 2022 monsoon forecast to 103%.
• India’s fiscal deficit improves to 6.7% in FY22 on higher tax mop-up.
• India’s textile exports were highest-ever in FY22 at $44.4 billion.
• Eurozone inflation hits a record 8.1% amid rising energy costs.
• Russian Oil ban, China reboot risk driving fresh inflation boost.
• Putin needs help from China and India on Oil.
• Credit Offtake remains robust in April across sectors.

Company Update:

• Determination of LICs embedded value likely to be completed by June 30, says MD of LIC
• ITC Infotech eyes $500 million in revenue over 5 years from the new business unit.
• LIC booked Rs. 42,000 Cr. profit from equity markets in FY22 up by 16% YoY.