Trade Set Up for Friday- Top Things to Know before Market
Trade Set Up for Friday 28 Jan 2022- Top things to know before market open
Trade Set Up for Friday 28 Jan 2022- Good morning and welcome to the morning reports.
Asian markets are trading mixed on Friday tracking the negative cues from Wall Street overnight. Nikkei is trading higher by 2.06 percent whereas Hang Seng and Shanghai are trading lower by 0.66 percent and 0.39 percent respectively. SGX Nifty is trading lower by 42 points or 0.24 percent at 17126 levels. The indication getting from the global markets is mixed, Indian stock markets are likely to open on a flat note.
The US and European market updates
The US markets closed lower in the last hour on Thursday despite the strong economic growth as investors are still worried about the tightening of monetary policy and its effect on corporate valuations and profits. The market indexes, Dow and S&P 500 was down by 0.02 percent and 0.54 percent respectively while Nasdaq fell 1.40 percent on Thursday.
European markets end higher on Thursday despite US Fed indicating a March interest rate hike. The major regional indexes reverse to end the day higher, as the markets were supported by the defensive sectors including healthcare and utilities leading the gains today. European market indexes, FTSE was up by 1.13 percent whereas CAC and DAX gained 0.60 percent and 0.42 percent respectively on Thursday.
Indian stock market updates
Indian stock market trim its early losses and closed in the red on Thursday. Sensex and Nifty fell around 1 percent each on the monthly F&O expiry day amid weak cues from the global markets. FIIs were the sellers and DIIs were the buyers in the cash market on Thursday. FIIs sold Rs 6266.75 crore while DIIs bought Rs 2881.32 crores in the cash segment.
Top news and updates to know before trade set up for Friday, 28 Jan 2022
According to the Industry and Commerce Ministry, the country’s electronic goods export up by 49% in April-December 2021 at $11 billion over $7.4 billion during the same period in the previous year. The US and UAE were the top two destinations for exporting electronic items from India.
The US economy grew rapidly in the fourth quarter of 2021 as GDP grows strong 6.9% annual rate, the strongest year in a decade. Economists expect a slow down in growth this year on weaker consumer spending, persistent shortage supply.
The US initial jobless claims fell to 260,000 for the week ended Jan 22, a decrease of 30,000 from the revised level of the week before, according to the labor department said on Thursday. The filings for unemployment benefits fell last week even after disruptions caused by the new covid variants.
Today’s Q3 earnings: Larsen & Toubro, Dr. Reddy’s Labs, Kotak Mahindra Bank, Britannia Industries, Vedanta, 3i Infotech, Aptus Value Housing Finance, Arvind SmartSpaces, Asahi India Glass, Atul, AU Small Finance Bank, Bajaj Healthcare, Bharat Electronics, Blue Dart Express, CARE Ratings, Central Bank of India and others
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