Daily Stock Market News Snippets- 5 May 20221 min read
1) The US Markets were up by 2.81% to 3.19%
2) The Brent Crude Oil price is currently hovering at around $110 per barrel.
3) The US 10-Year G-Sec Yield is at 2.94% while India’s 10-Year G-Sec Yield is at 7.38%.
4) RBI hikes repo rate by 40 bps and CRR by 50 bps.
5) Federal Reserve hikes policy rates. Fed Reserve has made the biggest hike since 2000 of 50 bps. Also, it will shrink assets to curb inflation at $4.75 billion from June and step up over 3 months to $95 billion per month.
6) LIC IPO subscribed to 67% on the first day. Policyholder subscription at 199% and Employee subscription at 117%.
7) Real Estate and Auto Companies to bear the brunt of interest rate hikes.
8) Retail Inflation (CPI) may have touched 7.4%-7.5% in April 2022, say, economists.
9) Kotak Bank’s consolidated Net Profit rises 50% to Rs. 3,892 Cr. in Q4FY22. The bank business, Auto Loans, and Life Insurance business performed well, while another business performance was not impressive.
10) Adani Green Energy Net Profit rises over 16% and not 1,016% as PE Ratio suggested.
11) EV Registrations dip 6% in April over March as 2W fires play spoilsport.
12) Passive Fund Assets on the Nifty 50 Index hit a new high of Rs. 2 Lakh Cr. Around 17 ETFs and 19 Index Funds are tracking it.