Key Events for the Month of June 2022:
• Nifty (-4.8%) corrected sharply, as the markets got worried due to hawkish Fed and recession concerns.
• The S&P 500 and Nasdaq corrected ~8%.
• RBI’s MPC decided to hike the Policy Repo Rate by 50 bps to 4.9% in its June meeting.
• The CPI inflation rate for May 2022 cooled from the 8 year high in April and came in at 7.04% on the back of the base effect while WPI inflation surged to a record high of 15.88% in May as prices of vegetables and fruits spiked.
• GST revenue collection for June was at Rs 1.44 lakh cr; up 56% year on year.
• FIIs continued being net sellers in the month of June 2022 and were net sellers to the tune of -$6.4bn even as DII buying continued at +$5.9bn.
• Brent Crude was extremely volatile and touched ~$125/ barrel before correcting ~$110/ barrel.