Trade set up for Friday 25 Feb 2022- Top things to know
Trade set up for Friday 25 Feb 2022- Top things to know before the opening bell
Trade set up for Friday- Good morning and welcome to the morning reports, the top things to know before the market opens today February 25, 2022
Asian markets are trading in the green on Friday tracking positive cues from the US markets overnight. Nikkei and Hang Seng are trading higher by 1.55 percent and 0.15 percent respectively while Shanghai is trading up by 0.78 percent. SGX Nifty is trading higher by 227 points or 1.40 percent at 16464 levels at this moment at 7.30 am IST.
The US and European market Indexes update
The US stock market indexes were volatile on Thursday, indexes started with a sharp fall and then recovered as investors have shown interest in beaten-down technology stocks in the wake of Russia’s invasion of Ukraine. Initially, the sharp fall in the markets was due to the repercussions of the surprise attacks on cities across Ukraine and surges in oil and gold prices.
However, the two separate sanctions announced by the US and Europe on Russia boost market sentiments on Thursday, and stocks rebound. The US market indexes, Dow Jones and S&P 500 gained by 0.28 percent and 1.50 percent and the tech-heavy Nasdaq jumped 3.34 percent on Thursday.
European markets suffered heavy losses on Thursday due to the impact of shockwaves from Russia’s invasion of Ukraine. Banking and financial stocks fell sharply on Thursday. European key indices FTSE fell 3.88 percent whereas CAC and DAX plunged 3.83 percent and 3.96 percent respectively.
Indian stock market updates
Indian stock market index fell sharply on Thursday amid weak global cues and on the Russian invasion of Ukraine. The key benchmark indices, Sensex and Nifty closed lower by 4.72 percent and 4.78 percent respectively. FIIs were the sellers and DIIs were the buyers in the cash market on Thursday. FIIs sold Rs 6448.24 crore while DIIs bought Rs 7667.75 crore in the cash segment.
The indication getting from the US and other Asian markets is positive at this moment at 7.30 am IST. Indian stock markets are likely to open higher today but would remain volatile due to the Ukraine crisis. The key indexes may swing on either side of their neutral lines depending on the development of the Russia/Ukraine war.
Top news and updates you should know before the trade set up for Friday, February 25, 2022
On Thursday, Chief Economic Advisor (CEA) V Anantha Nageswaran said that the Indian economy is recovering but the high crude price is now causes of concern. In a webinar organized by the Bharat Chamber of Commerce, the CEA said the country’s banking sectors in stable, capital is available and credit offtake is poised to take off. The budget of FY22-23 was made keeping in mind the crude oil price would be around $75 but in the Russia/Ukraine conflict, the crude price gained more than $96 per barrel is the real concern.
The foreign brokerage house UBS Securities India said that the ongoing recovery is still uneven and not broad-based, the government should continue the income support measures for the affected sectors. The foreign brokerage further said that the Indian economy is on a recovery path with potential growth of 6-6.5 percent in the medium to long term.
The US economic data released on Thursday were positive, as the number of Americans filing claims for unemployment benefits fell slightly more than expected last week. The US gross domestic product (GDP) increased slightly higher at a 7% annualized rate last quarter of 2021.
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