Trade set up for Monday, February 7, 2022- Morning Report
Trade set up for Monday – Good morning and welcome to the morning reports, the top things to know before the market opens today February 7, 2022
Asian markets are trading mixed on Monday. Nikkei and Hang Seng are trading lower by 0.81 percent and 0.62 percent respectively. Shanghai opened after a long weekend and currently is trading higher by 1.88 percent, despite the service sectors activities slipped to five months low in January, according to Caixin survey showed today.
SGX Nifty is trading lower by 44 points or 0.25 percent at 17445 levels. Today mixed indication is getting from the global markets, Indian stock markets are likely to open in the red.
The US and European market Indexes update
The US market indexes mostly gained on Friday due to a better than expected January job report that showed the economy is growing solidly. The Amazon share jumped after the quarterly earnings showed that the profit nearly doubles. The Market indexes S&P and Nasdaq gained 0.52 percent and 1.58 percent respectively while Dow Jones closed marginally lower by 0.06 percent on Friday.
European markets slipped on Friday despite the upbeat US non-farm payroll data. Investors are worried about rising inflations and monetary policy tightening by the ECB. European market indexes, FTSE was down by 0.17 percent while CAC and DAX were down by 0.77 percent and 1.75 percent respectively on Friday.
Indian stock market updates
Indian stock markets closed marginally lower on Friday amid mixed global cues. The key indices Sensex and Nifty closed lower by 0.24 percent and 0.25 percent respectively. FIIs were the seller and DIIs were the buyers on Friday. FIIs sold Rs 2267.86 crores while DIIs bought Rs 621.98 crores in the cash segment on the last day of the week.
Top news and updates you should know before the trade set up for Monday, February 7, 2022
According to RBI data showed on Friday, India’s foreign exchange reserves declined by USD 4.531 billion to stand at $629.755 billion in the week ended January 28. The reserves had decreased by $678 million to $643.287 billion in the previous week ended January 21.
The Asian Development Bank (ADB) on Sunday said it provided a record $ 4.6 billion loan to India in 2021, including $1.8 billion towards coronavirus.
On Sunday, Finance Minister Nirmala Sitharaman said, India is prepared to deal with any situation arising out of global developments. She said this including the US Federal Reserves’ decision to roll back monetary easing, the government will not allow the economy to suffer.
The RBI Monetary Policy Committee’s meeting has been rescheduled to February 8-10 instead of 7-9 February, as the government declared a public holiday following the demise of renowned singer Lata Mangeshkar. The RBI meeting outcome will be on 10 February Thursday.
Today’s Q3 earnings
Union Bank of India, TVS Motor Company, NALCO, Borosil, Camlin Fine Sciences, Castrol India, Chemcon Speciality Chemicals, Clean Science and Technology, Fortis Malar Hospitals, Future Supply Chain Solutions, Gabriel India, GlaxoSmithKline Pharmaceuticals, Indo Count Industries, Indian Bank, JM Financial, Jindal Stainless,
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