Daily Stock Market News Snippets- 31 May 2022

1 min read

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.

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