Daily Stock Market News Snippets- 10 May 2022

1) The US Markets were down by 1.99% to 4.29%.

2) The Brent Crude Oil price is currently at around $105 per barrel.

3) The US 10-Year G-Sec Yield is trading at around 2.99% while India’s 10-Year G-Sec Yield is at 7.46%.

4) LIC IPO subscribed nearly 3 times; Government raises Rs. 21,000 Cr.

5) Investment Bankers forgo bumper fees for managing LIC IPO to get table rankings (1.25% to 1.50% of issue size) i.e., $1.3 million instead of $40.5 million.

6) Rupee reaches an all-time low of Rs. 77.50 per dollar amid rising crude prices & FPI exit.

7) Centre wants RBI to lower bond yields as foreign investors pull out funds.

8) GST council mulling 28% tax on Bitcoin, other Cryptocurrencies Trading

9) FPIs pull out over Rs. 20,000 Cr. from Financials & IT in April 2022. Net Outflows in Financials were Rs. 12,891 Cr. and IT sector it was Rs. 8,579 Cr. While Net Inflows were in the Healthcare sector of Rs. 5,231 Cr., in FMCG Rs. 1,756 Cr., and Auto Sector it was Rs. 1,160 Cr.

10) Sim Consolidation is largely behind Jio

11) Life Insurer’s new business premiums zoom 84% in April, thanks to LIC. Industry New Business Premium (NBP) in April 2022 is Rs. 17,939 Cr. which has grown by 84%, whereas LIC’s NBP is Rs. 1,717 Cr. up by 141%.