Daily Stock Market News Snippets- 26 May 2022

Markets – Global & India

• US Markets were up by around 0.60% to 1.51%.
• The Brent Crude Oil price is currently at $111 per barrel,
• The US 10-Year G-Sec Yield is at 2.75% while India’s 10-Year G-Sec Yield is at 7.30%.
• India’s Market Cap to GDP ratio currently stands at 106%
• Nifty50 PE Ratio is at 19.74 and Sensex PE is at 21.85.

Currency & Dollar Index:

• Indian Rupee currently stands at Rs. 77.50 per dollar.
• The dollar index is at 102.06 from the earlier 101.76

Economy:

• Oil prices edge higher on tight supply and expected demand uplift.
• Credit Suisse says the market to bottom out soon as double-digit earnings growth is expected over the next few years.
• Advanced Economies to be back on track by 2024 said Gita Gopinath.

Sector Update:

• Nomura sees tough days ahead for IT Sector on challenging macro factors.
• Retail majors go big on new store openings. Around 3,206 outlets were added in the last fiscal (FY22) by Top-9 Retailer companies.

Company Update:

• Tata Power to expand its clean energy by 5 times in the next 5 years from the current level of 5GW to 25 GW.
• Government approves the sale of the entire remaining stake of 29.54% in Hindustan Zinc.
• Asian Paints, Berger Paints slips by around 6% after Grasim double CAPEX plans.
• ReNew Power plans Rs. 1 Lakh Cr. investment in Maharashtra & Karnataka.