Trade set up for Wednesday 2 March 2022
Trade set up for Wednesday 2 March 2022- Top things to know before market opening
Trade set up for Wednesday- Good morning and welcome to the morning reports, the top things to know before the market opens today March 2, 2022
Asian markets are trading in the red on Wednesday tracking negative cues from global market peers. Nikkei and Hang Seng are trading lower by 1.74 percent and 0.63 percent respectively while Shanghai is trading lower by 0.34 percent on Wednesday. SGX Nifty is down by 148 points or 0.89 percent and trading at 16560 levels.
The indication getting from the global market is negative, Indian stock market indexes are likely to open in the red today and remain volatile.
The US and European market Indexes update
US stock market indexes slipped and bond yield also fell while crude oil prices touch multi-year highs on Tuesday, as the Russia-Ukraine crisis continued to whipsaw through markets. The key US indexes, Dow Jones and S&P 500 fell 1.76 percent and 1.55 percent respectively while Nasdaq declined 1.59 percent respectively.
European market indexes fell sharply on Tuesday after Russia said it would continue its invasion until it had met its objectives. According to the report, the latest satellite images showed that Russian military convoy northwest of Kyiv. European market indexes, FTSE closed lower by 1.72 percent while CAC and DAX declined 3.94 percent and 3.84 percent respectively on Tuesday.
Indian stock market updates
The Indian equity market was closed on Tuesday on account of Mahashivratri. On Monday, key benchmark indexes erased early losses and made a decent gain. Sensex and Nifty closed higher by 0.70 percent and 0.81 percent respectively. FIIs were the sellers and DIIs were the buyers in the cash segment. FIIs sold Rs 3948.47 crore while DIIs bought Rs 4142.82 in the cash segment on Monday.
Top news and updates you should know before the trade set up for Wednesday, March 2, 2022
The global market volatility increases due to the continued escalation of the Russia-Ukraine conflict. The first round of peace talks ended without any resolution on February 28. The second round of peace talks between Russia-Ukraine will be held on March 2.
The government collected Rs 133026 crore GST in the month of February, an 18 percent growth compared to last year’s same period. The GST cess collection crossed Rs 10,000 crore mark for the first time since its implementation.
The GDP data released by National Statistical Office (NSO) on Monday, after market hours showed that the Indian economy grew by 5.4 percent in Q3FY22, below market expectation. The projection for 2021-22 GDP growth trimmed to 8.9 percent from 9.2 percent estimated in January.
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