Daily Stock Market News Snippets- 31 May 2022

Markets – Global & India

• US Markets were closed on Memorial Day.
• The Brent Crude Oil price is currently at $118 per barrel,
• The US 10-Year G-Sec Yield is at 2.83% while India’s 10-Year G-Sec Yield is at 7.41%.
• India’s Market Cap to GDP ratio currently stands at 110%
• Nifty50 PE Ratio is at 20.65 and Sensex PE is at 22.72.

Currency & Dollar Index:

• Indian Rupee currently stands at Rs. 77.55 per dollar.
• The dollar index is at 101.46 from the earlier 101.70

Economy- Global & India:

• India’s imports of cheap Russian crude have surged since the Ukraine invasion. 0.72 Cr. barrels in April, 2.4 Cr. barrels in May, and 2.8 Cr. barrels are expected in June 2022.
• Monsoon arrival and China’s easing Covid situation cheers up stocks.
• States gained Rs. 49,000 Cr. when fuel prices rose, have toom to cut VAT: SBI

Company Update:

• LIC’s FY22 Net Profit up by 39% to Rs. 4,043 Cr. compared to Rs. 2,900 Cr. in FY21.
• Vi is in talks with Amazon, and PEs for Rs. 20,000 Cr. investment.
• Tata Motors to charge up its Electric Vehicles (EV) business with Ford Sanand Plant buy.
• Adani Enterprises have seen replacing Shree Cement in Nifty 50. It could result in passive inflows of $183 million i.e., Rs. 1,418 Cr.
• 40% of Initial Public Offers (IPOs) this year (CY22) failed investors amid weal secondary market conditions.
• M&M to launch an electric version of the XUV300 SUV by the end of FY23.