Daily Stock Market News Snippets- 10 June 2022

Markets – Global & India

• US Markets were down by around 1.94% to 2.75%.
• The Brent Crude Oil price is currently at $122 per barrel,
• The US 10-Year G-Sec Yield is at 3.05% while India’s 10-Year G-Sec Yield is at 7.49%.
• India’s Market Cap to GDP ratio currently stands at 108%.
• Nifty PE ratio at 20.39 and Sensex PE ratio at 22.54.
• Rupee at 77.82 per dollar while US Dollar index at 103.33.

Global Economy:

• Global FDI back to pre-covid levels in 2021 but uncertainty looms which is at around $1.6 trillion in the calendar year 2021: UNCTAD
• Tesla’s share of EV sales hits a 3-year low on Shanghai Lockdown.
• European stocks, Euro slips as ECB set to join rate hike club.

Indian Economy:

• India’s FDI rank rises to the 7^th position despite falling inflows and is at $45 billion as of Calendar Year 2021: UNCTAD.
• Current Account Deficit Likely to hit 3-year high at $43.8 billion in FY22.
• FY23 tax collection likely to be better than budget estimate: Revenue Secretary
• Record $14.5 billion investment in Indian Renewable Energy Sector in FY22.
• India may slash GST on lithium-ion batteries to 5%.

Company Update:

• Equity MFs continue to see positive momentum; Rs. 18,529 Cr. inflow was recorded in May 2022.
• Inflows through SIP rose to Rs. 12,286 Cr. in May 2022.
• HDFC raises retail prime lending rate on housing loans by 50 bps.
• Cement Demand to increase, optimism in the industry, committed to a CAPEX of Rs. 9,000 Cr.: Dalmia Bharat
• TVS Motor Company is buoyant on hopes of volume & margin.
• Bajaj Auto to consider Share Buyback, the first such a move after 2000.
• LIC is in focus as anchor investors’ lock-in period ends down 24% from the issue price.