Trade set up for Monday, 21 Feb 2022- Morning Report
Trade set up for Monday, top things to know before market opens
Trade set up for Monday- Good morning and welcome to the morning reports, the top things to know before the market opens today February 21, 2022
Asian markets are trading in the red on Monday due to the surge in oil price and high inflation worries. Nikkei and Hang Seng are trading lower by 0.60 percent and 0.55 percent respectively while Shanghai is trading lower by 0.42 percent at 7.35 am IST. SGX Nifty is trading lower by 114 points or 0.66 percent at 17166 levels. The indication getting from the Asian markets is negative, Indian stock markets are likely to open in the red today.
The US and European market Indexes update
The US market indexes fell on Friday as American officials said that Russia had gathered as many as 190000 troops near the Ukrainian border. This has raised concerns about an invasion among investors which could hit the global energy supply and add to inflation. The US market indexes Dow Jones and S&P 500 declined 0.68 percent and 0.72 percent respectively while Nasdaq was down by 1.23 percent on Friday.
European markets erased their early gains on Friday after the report that the separatist leaders in Eastern Ukraine were evacuating their citizens in the region into Russia following recent bombardments. European market indexes FTSE and CAC closed lower by 0.32 percent and 0.25 percent respectively while DAX was down by 1.47 percent on the last day of the week.
Indian stock market updates
Indian stock market indexes closed marginally lower on Friday amid volatility. The key benchmark, Sensex and Nifty were closed lower by 0.10 percent and 0.16 percent respectively. FIIs were the seller and DIIs were the buyers in the cash segment. FIIs sold Rs 2529.96 crore while DIIs bought Rs 1929.08 crore in the cash segment on Friday.
Top news and updates you should know before the trade set up for Monday, February 21, 2022
According to the RBI data showed on last Friday, the country’s foreign exchange reserves declined by $1.763 billion to $630.19 billion in the week ended on February 11. The foreign exchange reserve had risen in the previous week by $2.198 billion to $ 631.953 billion.
The SBI’s research report- Ecowrap, said that the country’s GDP is likely to grow at 5.8 percent in the third quarter of fiscal 2022. The country’s GDP for the second quarter of the current fiscal grew at 8.4 percent, the National Statistical Office ( NSO) will release the third-quarter GDP estimates on 28 February.
On Sunday, the government said that the commerce department is being revamped to achieve the $2 trillion exports by 2027. According to the statement issued by the commerce and industry ministry, a strengthened negotiation ecosystem and a dedicated ‘ Trade Promotion Body’ to drive overall promotion strategy, export targets, and execution besides an inter-ministerial Trade remedies review Committee for transparency in investigations outcomes are proposed to be set up.
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Happy Investing!!
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