Trade set up for Thursday 24 February 2022- F&O Expiry
Trade set up for Thursday 24 February 2022- Top things ahead market opening
Trade set up for Thursday- Good morning and welcome to the morning reports, the top things to know before the market opens today February 24, 2022
Asian markets are trading in the deep red on Thursday tracking negative cues from the US markets overnight. Nikkei and Hang Seng are trading lower by 0.90 percent and 1.32 percent respectively. Shanghai is trading lower by 0.21 percent at 7.40 am IST. SGX Nifty is down by 248 points or 1.46 percent at 16814 levels.
The US and European market Indexes update
The US markets extended their losses after concerns over the Russia/Ukraine crisis. The threat of war has added volatility in the global markets and pushed S&P 500 into correction territory. The US key benchmark indexes slipped on Wednesday, Dow Jones and S&P 500 declined by 1.38 percent and 1.84 percent respectively whereas Nasdaq was down by 2.57 percent on Wednesday.
European markets closed mixed tracking mixed cues from the US and Asian markets. FTSE closed marginally higher by 0.05 percent as investors’ sentiments improved after strong Barclays earnings. Whereas CAC and DAX erased early gains and closed marginally lower by 0.10 percent and 0.42 percent respectively amid talk of further sanctions from the West on Russia.
Indian stock market updates
Indian stock market indexes closed marginally lower on Wednesday amid volatility. The Sensex and Nifty declined by 0.12 percent and 0.17 percent respectively. FIIs were the sellers and DIIs were the buyers in the cash segment. FIIs sold Rs 3417.16 crore and DIIs bought Rs 3024.37 crores in the cash segment on Wednesday.
The indication getting from the other Asian market peers on Thursday is negative for the Indian stock markets. The domestic markets are likely to open in a gap-down today and enter into a volatile zone. Indian markets will remain volatile today as the February series F&O expiry is scheduled.
Top news and updates you should know before the trade set up for Thursday, February 24, 2022
India Ratings has revised the country’s GDP growth forecast for 2021-22 to 8.6 percent from the 9.2 percent projected earlier. The National Statistical Organisation (NSO), will release the Q3 GDP number on 28 February Monday.
The RBI Deputy Governor M D Patra said on Wednesday that the country’s GDP will be 1 percent above the pre-pandemic level even after the estimated 9.2 percent growth in FY22. The Deputy Governor also said that India is in a comfortable position in inflation, and RBI will continue to maintain its accommodative stance in monetary policy to support the economy.
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