Trade set up for Thursday, Feb 17, 2022- Morning Report
Trade set up for Thursday, Feb 17, 2022- Top things to know before market opens
Trade set up for Thursday – Good morning and welcome to the morning reports, the top things to know before the market opens today February 17, 2022
Asian markets are mostly trading in the green on Thursday. Nikkei is trading lower by 0.29 percent as Japan’s export rose 9.6 percent in January compared to the previous year but the trade deficit widens to 8 year high due to a jump in commodity imports. Hang Seng and Shanghai are trading higher by 0.21 percent and 0.14 percent respectively at this moment at 7.50 am IST.
SGX Nifty is trading higher by 51 points or 0.30 percent at 17369 levels. The indication getting from the Asian markets is positive. Indian stock markets are likely to open positive today.
The US and European market Indexes update
The US stock market indexes closed mixed with slight changes, reversing an early sell-off after the release of the minutes of the latest Federal Reserve meeting. The oil prices surged as the investors assess mixed information on whether Russia-Ukraine tension will further escalate. The US market indexes, Dow Jones and Nasdaq closed marginally lower by 0.16 percent and 0.11 percent respectively while S&P 500 gained 0.09 percent on Wednesday.
European markets erased early gains and closed marginally lower on Wednesday, as investors welcomed a partial withdrawal of Russian troops from the Ukraine border. Investors remained cautious as UK’s consumer prices rose at the fastest annual pace in nearly 30 years in January. European market indexes, FTSE fell 0.07 percent while CAC and DAX were closed lower by 0.21 percent and 0.28 percent respectively on Wednesday.
Indian stock market updates
Indian stock market indexes marginally declined on Wednesday after a volatile trading session. The key indexes, Sensex and Nifty fell 0.25 percent and 0.17 percent respectively on Wednesday. FIIs were the sellers and DIIs were the buyers in the cash market segment. FIIs sold Rs 1890.96 crore whereas DIIs bought Rs 1180.14 crores in the cash segment on Wednesday.
Top news and updates you should know before the trade set up for Thursday, February 17, 2022
On Wednesday, the Reserve Bank of India (RBI) said in its monthly bulletin that India has witnessed recovery in economic activity, striking a path that is diverging from global developments even as its rural demand slackens. According to RBI, manufacturing, and services remain in expansion with optimism on demand parameters and an uptick in consumer and business confidence.
U.S retail sales jumped 3.8 percent with a surge in big-ticket and online purchases as inflation reached a 40 year high and the Omicron covid infection started to recede.
According to Acuite Rating and Research, the country’s FY22 current account deficit faces mild upside risk from high commodity prices. The domestic rating agency said the wider merchandise trade deficits pulled India’s Q2FY22 current account into the negative territory. The current account swang into negative territory with a deficit of $9.6 billion in Q2FY22 from a surplus of $6.6 billion in the preceding quarter. The news was published on economictimes.com.
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