Daily Stock Market News Snippets- 21 June 2022

2 min read

Markets – Global & India

  • The US Market showed mixed action.
  • The Brent Crude Oil price is currently at $115 per barrel.
  • India’s Market Cap to GDP ratio currently stands at 101%.
  • The US 10-Year G-Sec Yield is at 3.28% while India’s 10-Year G-Sec Yield is at 7.46%.
  • Nifty PE ratio at 18.99 and Sensex PE ratio at 21.04.
  • Rupee at 78.03 per dollar while US Dollar index at 104.15.

Global Economy:

  • As per Nomura, the US Economy might go into recession by the year-end on account of rising inflation and de-growth in the economy.
  • Fed’s Loretta Mister said that inflation will not fall to the 2% target for 2 years.
  • Germany and Italy may shift back to coal as Russia turns down gas flows.
  • China’s power demand sets new records of 65.3 million KW as heatwaves bake the northern region.
  • China’s Oil imports from Russia jumped 55% YoY to 8.42 million tonnes.

Indian Economy:

  • India facing a twin deficit (fiscal and current account deficit) problem due to commodity prices and subsidy says Finance Minister.
  • As per PFRDA, National Pension System (NPS) subscribers are up 24% YoY to 53.17 million in May 2022. Under NPS, Atal Pension Yojana is with the highest growth of around 31% YoY.
  • As per the report, India-focused funds are on road to raising around $9.8 billion in CY22. Till now, 18 funds have already generated $1.47 billion. This growth is expected on the grounds of increased attractiveness of the Indian Market and the China Plus One Strategy.
  • As per CRISIL Report, Duty-related measures cut India’s Steel Exports by 40% in FY23.

Company Update:

  • Vodafone Idea Ltd on Monday said its British shareholder Vodafone Group will invest Rs. 500 crores in the company through equity or convertible warrants, following a previous cash injection by its promoters in March.
  • Air India prepares one of the largest aircraft deals in Aviation history. Air India might purchase 300 Jets from Airbus, Boeing, or both.
  • India Exposition Mart gets SEBI’s go-ahead to float Rs. 600 Cr. IPO. Also, INOX Green Energy files fresh Draft papers with SEBI for Rs. 740 Cr. IPO.

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