Trade set up for Wednesday, Feb 16, 2022
Trade set up for Wednesday, Feb 16, 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 February 16, 2022
Asian markets are trading strong on Wednesday tacking positive cues from the global markets. Nikkei and Hang Seng are trading higher by 1.96 percent and 0.80 percent respectively, while Shanghai is trading also trading higher by 0.31 percent. SGX Nifty is trading higher by 24 points or 0.14 percent at 17372 levels at this time at 7.30 am IST
The indication getting from the Asian markets is positive today, Indian stock markets are likely to open in the green today.
The US and European market Indexes update
The US stock market indexes rose on Tuesday, while crude oil prices slumped and bonds sold off after Russia said it had pulled back some troops near Ukraine. Investors cheered as this has reduced some fear about the conflict between Russia and Ukraine. The US market indexes, Dow Jones and S&P500 gained 1.22 percent and 1.58 percent respectively while Nasdaq jumped 2.53 percent on Tuesday.
European market indexes extended their early gains on Tuesday on the news that Russia had partially pulled back its troops from the border near Ukraine. Brent crude and European gas prices also fell after the ease of geopolitical tension. European market indexes, FTSE gained 1.03 percent while CAC and DAX were up by 1.86 percent and 1.98 percent respectively on Tuesday.
Indian stock market updates
Indian stock market indexes bounced back after two days sharp fall as the geopolitical tension eased. The key benchmark indexes, Sensex and Nifty closed higher by more than 3 percent each on Tuesday. FIIs were the sellers and DIIs were the buyers in the cash market segment. FIIs sold Rs 2298.76 crore while DIIs bought Rs 4411.60 crore in the cash segment on Tuesday.
Top news and updates you should know before the trade set up for Wednesday, February 16, 2022
The country’s exports in January rose by 25.28 percent to $34.50 billion on account of the healthy performance by mainly in engineering, petroleum and gems, and jewelry sectors, even as the trade deficit widened to 17.43 billion, according to the data released by the commerce ministry on Tuesday. Imports also grew by 23.54 percent to $51.93 billion during the month under review.
The Swiss brokerage UBS Securities on Tuesday said that it expects RBI to leave the key policy rates unchanged throughout the first half of 2022. The foreign brokerage house sees India’s inflation to remain elevated till April and in the second half, the RBI MPC may hike 50 bps points starting from the August 2022 policy.
The US labor department on Tuesday said the producer-price index, the prices that suppliers charge businesses and other customers surged 1 percent in January from the prior month, boosted by pandemic-related disruptions and continued strength in consumer demand. The increase in the producer price index could add pressure to the Federal Reserve to speed up the interest rate hikes.
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