Sensex and Nifty closed the week on a positive note tracking global equity markets rally. FOMC minutes showed policymakers may not aggressively hike rates which boosted market sentiment. FIIs outflows YTD stood at Rs. 1663 billion. �In the coming week, investors will watch out for US jobs data and service PMI levels. Q4 earnings will keep domestic investors busy and GDP growth figures will be released.
Equity Market Summary:
� In domestic markets FIIs/FPIs sold 171 billion in April 2022 and sold Rs. 391 billion in May 2022 (as of 29th May 2022).
� US indices closed on positive note on Friday, amid macro-data suggesting demand remained robust to start Q2. PCE inflation rate eased further, strengthening expectations that the Fed won�t aggressively hike rates.
� Personal consumption expenditure price index in the US increased 0.2% MoM in April 2022, much less than a 0.9% rise in March.
� FOMC minutes how policymakers judged that 50 bps rate hike likely be appropriate at the next couple of meetings in order to contain inflation.
� Corporate profits in the United States fell 4.3% to USD 2.42 trillion in the Q1Fy22, from a record USD 2.53 trillion reached in the previous period.
� The number of Americans filing new claims for unemployment benefits decreased by 8,000 to 210,000 in the week ended 21st May 2022.
� European indices closed on positive note on Friday, tracking global cues.
� Latest ECB policy-meeting minutes show concerns over high inflation and agreed that a gradual normalisation of the monetary policy should continue.
� Brent crude prices gained on weekly basis, as the investors expect oil demand from China to bounce back as Covid-19 restrictions ease and US oil inventories continued to decline.
