 
|
|
|
Key Events for the Month of May 2022:
• Nifty (-3.0%) moved down, as the markets got worried after RBI raised rates in an off-cycle meet.
• The S&P 500 was flat while Nasdaq was down around 3.5%. The markets also got boost with China relaxing the Covid related
lockdowns.
• India's GDP grew at 8.7 per cent in the financial year 2021-22.
• The RBI MPC in an off-cycle meet increased policy repo rate by 40bps to 4.4% and CRR by 50bps to 4.5%, to curb inflation.
• The GOI announced cut in central excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre. They have also imposed
export duties on 11 iron and steel intermediates.
• GST revenue for May stood at nearly ₹1.41 lakh crore, a 44 percent increase over the same month last year.
• Brent Crude closed over $120 per barrel in May, with the geopolitical conflict continuing for another month. Metals were the
worst performing sector with the imposition of export duty.
• CPI inflation surged to 8-year high of 7.79% in April 2022, running ahead of the RBI's target range for four straight months. The
food inflation surged to 17 months high of 8.38%. WPI inflation surged to record high for 2011-12 series at 15.1% in April 2022.
