Trade set up for Monday, 24 Jan 2022
Trade set up for Monday, 24 Jan 2022, Top things to know before market opening
Trade set up for Monday 24 Jan 2022– Good morning and welcome to the Indian stock market cues ahead of the opening bell.
Asian markets are trading in the red on Monday amid negative cues from Wall Street on Friday. Nikkei and Hang Seng are trading lower by 0.53 percent and 1.13 percent respectively, while Shanghai is trading 0.40 percent down.
The SGX Nifty is trading 141 points or 0.80 points down at 17495 levels. The indication getting from the global markets is negative, Indian stock markets are likely to open lower today.
The US and European market updates
The US markets declined last Friday due to weak corporate earnings, as Netflix quarterly results disappointed the street and dragged the tech-heavy Nasdaq by 2.7 percent. The market indexes Dow Jones and S&P 500 were down by 1.30 percent and 1.89 percent respectively on the last day of the week.
European markets fell sharply on Friday amid negative cues from the US markets as investors were worried about an interest rate hike and weak corporate earnings. The market sentiment was dampened as the UK’s retail sales plunged 3.7 percent in December due to Omicron restrictions.
European market indexes FTSE was down by 1.20 percent while CAC and DAX were declined by 1.75 percent and 1.94 percent respectively.
Indian stock market updates
Indian stock market fell sharply and later trimmed its losses on Friday. The key benchmark indices, Sensex and Nifty closed lower by 0.72 percent and 0.79 percent respectively. FIIs were the seller and DIIs were the buyers on the last day of the week. FIIs sold Rs 3148.58 crore and DIIs bought Rs 269.36 crore in the cash segment.
Top news and updates ahead of Trade set up for Monday, 24 Jan 2022
The Confederation of Indian Industry (CII) on Sunday urged the state governments to lift the pandemic-induced restrictions on economic activity. The suggestion was proposed as that the occupancy rate of hospital beds due to the new covid variants is well within the manageable level. The industry body also suggested the government include an additional 1 percent corporate social responsibility levy in the upcoming budget on providing Covid vaccine booster shots.
As per RBI data showed last Friday, India’s foreign exchange reserves grew by $2.229 billion to $634.965 billion in the week ended January 14. In the previous week, the reserves had declined by $878 million to $632.736 billion.
Today, the Indian markets will first react to the Reliance and ICICI Bank’s Q3 results announced post-market hours on Friday and Saturday respectively.
Today’s Q3 earnings: Axis Bank, HDFC Asset Management Company, Apollo Pipes, Apollo Tricoat Tubes, Burger King India, Cera Sanitaryware, Chennai Petroleum Corporation, Craftsman Automation, Deepak Nitrite, Greenpanel Industries, GRM Overseas, Hindustan Fluorocarbons, Indian Energy Exchange, IIFL Securities, and others.
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