Daily Stock Market News Snippets- 23 May 2022

Markets – Global & India

• The Brent Crude Oil price is currently at $110 per barrel,
• The US 10-Year G-Sec Yield is at 2.80% while India’s 10-Year G-Sec Yield is at 7.35%.
• India’s Market Cap to GDP ratio currently stands at 107%
• Nifty50 PE Ratio is at 20.05 and Sensex PE is at 22.19.

Currency & Dollar Index:

• Indian Rupee currently stands at Rs. 77.82 per dollar.
• The dollar index is at 102.96 from the earlier 103.55

Economy:

• Central slashes excise duty on petrol, and diesel to curb inflation.
• Centre slaps export duty on steel, and materials to cool prices.
• India mulls $13 billion extra borrowing to offset fuel-tax cut.
• As per Sources, India considering spending an additional $26 billion to fight inflation.
• RBI’s Government Transfer falls sharply to Rs. 30,307 Cr.
• Apple eyes India output bump as China virus curbs force iPhone maker to look elsewhere.
• Mutual Funds collect Rs. 1.08 Lakh Cr. via 176 NFOs in FY22

Company Update:

• L&T plans to exit the road, power concessions, and incubate digital business.
• Tata Motors expects PV Industry to surpass FY19 volumes (34 Lakhs) this fiscal.
• Infosys extends Chief Executive Salil Parkeh’s term by 5 years.