Trade set up for Thursday, February 3, 2022- Morning Updates
Trade set up for Thursday – Good morning and welcome to the morning reports, the top things to know before the market opens today February 3, 2022
Asian markets are mostly closed due to Lunar New Year. Nikkei is trading lower by 1.19 percent, as Japan’s service sectors shrink at the fastest pace in 5 months as per the PMI data released today. Kospi and Straits Times are trading higher by 2.07 percent and 1.87 percent respectively at this time.
SGX Nifty is trading marginally lower by 22 points or 0.12 percent at 17786 levels. The indication getting from the global markets is positive. Indian stock markets are likely to open in the green today.
The US and European market Indexes update
The US markets extended their winning streak on Wednesday due to strong corporate earnings by Google parent Alphabet. The three key benchmark indexes raise for the four straight sessions. The US market indexes, Dow Jones and S&P500 gained 0.63 percent and 0.94 percent respectively while Nasdaq was up by 0.50 percent on Wednesday.
European markets mostly closed in the green on Wednesday due to strong corporate news and ahead of key central banks meetings. UK’s FTSE gained 0.63 percent led by miners and consumer staple stocks, while the banking sub-index rose in anticipation of a second consecutive rate hike from the BOE meeting on Thursday. CAC closed higher by 0.22 percent whereas DAX was closed flat to the negative, down 0.04 percent on Wednesday.
Indian stock market updates
Indian stock markets closed higher on Wednesday. The Sensex and Nifty gained 1.18 percent and 1.16 percent respectively. FIIs were sellers and DIIs were buyers in the cash segment on Wednesday. FIIs sold Rs 183.60 crore and DIIs bought Rs 425.96 crores in the cash markets.
Top news and updates you should know before the trade set up for Thursday, February 3, 2022
As per the government data, the total foreign direct investment (FDI) inflows during April-November 2021 stood at $ 54.10 billion. Out of the total, the FDI equity inflow during the same period was $39.26.
According to the CMIE report, the country’s unemployment rate witnessed a sharp decline to 6.57 percent in January, the lowest since March 2021. This shows that the country gradually recovers with easing of restrictions following a decline in Omicron cases. The unemployment rate in Urban India India stood at 8.16 percent in January, in rural areas it was the lowest at 5.84 percent as per data showed by CMIE.
Today’s Q3 earnings: ITC, Titan Company, Lupin, Aavas Financiers, Aditya Birla Capital, Adani Power, Adani Transmission, Barbeque-Nation Hospitality, Brigade Enterprises, Cadila Healthcare, Coromandel International, Dishman Carbogen Amcis, Emami, GAIL (India), Godrej Properties, HCC
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