Daily Stock Market News Snippets- 19 May 2022

Markets – Global & India

• The US Markets were down by around 3.57% to 4.76% on Wednesday.
• The Brent Crude Oil price is currently at $108 per barrel,
• The US 10-Year G-Sec Yield is at 2.87% while India’s 10-Year G-Sec Yield is at 7.35%.
• India’s Market Cap to GDP ratio currently stands at 106%
• Nifty50 PE Ratio is at 20.09 and Sensex PE is at 22.21.

Currency & Dollar Index:

• Indian Rupee currently stands at Rs. 77.63 per dollar.
• The dollar index is at 103.55 from the earlier 103.49

Economy:

• SEBI lens on retail participation in the F&O segment; worried about inexperienced investors burning their fingers; may regulate.
• At $19.61 billion, outward remittances via Liberalised Remittance Scheme (LRS) hit an all-time high in FY22. Abroad Trave and Education are the major reasons.
• RBI tells banks amid global turmoil to take proactive mitigating measures.
• India is better placed among emerging economies both for portfolio (FPI) and direct (FDI) investments: CEA Nageswaran
• S&P cuts FY23 India growth forecast to 7.3% from 7.8% on rising inflation.
• UK Inflation is at 9% jumping to a 40-year peak.

Company Update:

• ITC Q4 results: Net Profit of the company increases by 12% YoY to Rs. 4,191 Cr. The Board of Directors recommended a final dividend of Rs. 6.25 per share.
• Tata is in buyout talks with 5 consumer brands.
• Demand for Solar Panels, and geysers surges in Delhi, Bengaluru, and Pune amid power outages.