Daily Stock Market News Snippets- 2 May 2022

1) The Brent Crude Oil price is currently at around $107 per barrel.

2) The US 10-Year G-Sec Yield is around 2.93% while India’s 10-Year G-Sec Yield is trading at around 7.14%.

3) GST Mop up hits a record high of Rs. 1.68 Lakh Cr. in April 2022 on robust business activity.

4) Fuel sales growth moderates in April as record-high prices dent demand. Sales growth of petrol in April 2022 has grown by 2.1% YoY and for Diesel, it is 0.3% YoY.

5) UPI hits a record high in April 2022. The number of transactions reached 558 Cr. and the amount of transactions has crossed Rs. 9.83 Lakh Cr.

6) Listed AMCs (UTI AMC, HDFC AMC, Nippon) see a muted Q4 due to pressure on yield.

7) Tata Motors may be added to Sensex n the next rebalancing from 17^th June 2022.

8) LIC IPO may spur the opening of more Demat accounts. The total Demat account stood at 8.97 Cr. whereas around 3.46 Cr. accounts were alone opened in FY22.

9) RIL eyes mega land bank for 100 GW Solar Projects. The company will need around 4 acres of land for 1 MW Solar projects.

10) Nithin Kamath said that Payments bank, neobank is on Zerodha’s radar.

11) Top IT firms see a major drop in operating margins in Q4FY22 of between 2% to 4%.

12) Good Q4 numbers from SBI Cards and IDFC First Bank on account of fewer provisions.