Daily Stock Market News Snippets- 24 May 2022

Markets – Global & India

• US Markets were up by 1.59% to 1.98%.
• The Brent Crude Oil price is currently at $109 per barrel,
• The US 10-Year G-Sec Yield is at 2.84% while India’s 10-Year G-Sec Yield is at 7.38%.
• 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. 77.53 per dollar.
• The dollar index is at 102.15 from the earlier 102.96

Economy:

• European Central Bank plans to end negative rates as inflation soars.
• Automakers benefit from softening steel prices, and duty cuts on fuel.
• Export duty levy may force steel companies to review CAPEX plans.
• Credit Card spending jumps 48% to top Rs. 1 Lakh Cr. in March 2022
• RBI Governor in a press meeting hinted at the more hikes coming.

Company Update:

• Tata Motors, Tata Power to install 7 MWP solar rooftop expansion project in Pune.
• Indian Hotels launches a program called ‘Ahvaan 2025’. It is to re-engineer its margin, re-image brandscape, and restructure its portfolio.
• Zomato Q4 Results: Net Loss of the company stands at Rs. 360 Cr. while revenue spikes by 75%.
• Jio, Airtel in position to buy Pan-India 5G spectrum, uncertainty on Vi bid.
• Tata Sons is likely to earn a record Rs. 27,797 Cr. from its listed firms via Dividend and Share Buybacks.