Daily Stock Market News Snippets- 17 June 2022

Markets – Global & India

• The US Markets were down by between 2.42% to 4%.
• The Brent Crude Oil price is currently at $118 per barrel.
• India’s Market Cap to GDP ratio currently stands at 101%.
• The US 10-Year G-Sec Yield is at 3.24% while India’s 10-Year G-Sec Yield is at 7.62%.
• Nifty PE ratio at 19.01 and Sensex PE ratio at 20.99.
• Rupee at 77.92 per dollar while US Dollar index at 103.94.

Global Economy:

• The yield curve inverts in the US and flattens in India, hitting a slowdown.
• World shares resume slide on growth fears in Swiss, UK hikes rates.
• Indians’ Funds in Swiss banks jump 50% to over Rs. 30,000 Cr. on surge in securities and institutional holdings.

Indian Economy:

• RBI Bulletin: Forex Reserves the only reliable cushion against global volatility. Further, India is better placed than many others to avoid stagflation.
• The yield curve shows India’s better long-term growth prospects: RBI Paper
• At Rs. 42,679 Cr., advance tax collection was up 48% in the April-June quarter.
• Indian Private Equity Investments reach $70 billion in 2,000 deals in 2021.

Company Update:

• Jio adds 16.8 lakh mobile subscribers and Airtel gains 8,10,000 subscribers in April 2022
• Banking sector GNPA falls below 6% lowest in the 6 years.
• HDFC is in the final stage of selling 4 large stressed accounts before the merger.
• ATF prices hiked by 16%, touching a new record, as global crude prices soar. Spicejet and Indigo are under pressure.