1) Markets – Global & India
- US Markets were up by 1.47% to 3.82% on Friday (NASDAQ: +3.82%, S&P 500: +2.39%, Dow Jones: +1.47%)
- Brent Crude prices were at $112/barrel. The Brent Crude Oil price is on the rise on account of
- US 10-year G-Sec Yield at 2.94% while India’s 10-year G-Sec Yield at 7.32%.
- As of 13th May 2022, India’s Market Cap to GDP Ratio was at 102% and Nifty’s PE Ratio at 19.83 & Sensex PE at 21.84
- FII & DII Activity: MF buying cushions foreign portfolio investors selling blow. During the last week ended the 13th of May, FIIs sold equities worth Rs.19,967 Cr, while DIIs bought equities worth Rs.18,202 Cr. In the May month till now FII sold Equities worth Rs.32,701 Cr and DII bought Equities worth Rs.26,735 Cr.
2) Currency & Dollar Index:
- The rupee is currently at 77.45/$
- (The Indian currency market will remain shut on Monday (May 16) on account of Buddha Pournima)
- US Dollar Index settled at 104.47
- The dollar’s strength pushes the world economy deeper into the slowdown
- HCL Tech to double headcount in nearshore locations in 3-5 years: CEO
- As per the CIME report, India added 8.8 million or 0.88 Cr. jobs in April. This is because the working-age population cannot grow by more than two million per month and any rise beyond that implies that those who were out of jobs returned to the workforce
- Mergers & Acquisitions:
- Adani group wins race to buy Ambuja Cements, ACC for $10.5 bn from Holcim
- Reliance to acquire dozens of brands in a $6.5 billion consumer goods play.
- Paytm terminates agreement to acquire Raheja QBE General Insurance
- Paytm lending business records annualized run-rate of Rs 20,000 cr in April
- LIC IPO: Govt raises Rs 20,560 crore as the firm sets issue price at Rs 949
- MSCI Index Review:
- AU Small Finance Bank, Tata Elxsi, and Adani Power soar on MSCI foray
- MSCI adds BoB, Cholamandalam Investment, and JSPL to the India index
- SBI posts an all-time high quarterly profit at Rs. 9,113 Cr.
- Bandhan Bank Q4 net profit is at Rs. 1,902 Cr. on account of lower provisions of just Rs. 4.70 Cr.
- Escorts Q4FY22 revenue from operations stood at Rs. 1,878 crores, a YoY decline of (15.7%) and a QoQ decline of (5.3%).