Trade Setup for Friday 10 June 2022: Stock Market News
Trade setup for Friday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today June 10, 2022
Asian markets are trading in the deep red on Friday tracking negative cues from Wall Street overnight. The global cues have become pessimistic, as ECB signaled an aggressive rate hike in September and nervousness ahead of the US inflation data, which is expected later today. Nikkei and Hang Seng are trading lower by 1.31 percent and 1.38 percent respectively while Shanghai is trading down by 0.42 percent at this moment at 7.10 am IST.
The SGX Nifty is trading lower by 254 points or 1.54 percent at 16217 levels. The indication from the global markets is negative. Indian stock markets are likely to open a gap down today. Nifty may open between 16200-16250 levels today.
The US and European market Indexes update
The US stock market indexes fell sharply on Thursday as investors awaited inflation data that will help them to determine the Federal Reserve’s pace of interest rate hikes in the coming monetary policy meeting.
The Central Bank’s meeting is scheduled for next week and is widely expected to raise its key interest rate by 50 basis points as of now. The US market indexes, Dow Jones and S&P 500 declined by 1.94 percent and 2.38 percent respectively while Nasdaq was down by 2.75 percent on Thursday.
European markets closed lower on Thursday after the European Central Bank signaled a rate hike from next month and possibly by a bigger margin in September. The ECB has also said it would end a long-running bond-buying scheme on July 1.
Further, it raised its inflation forecast and cut economic growth expectations for the year. European market indexes, FTSE and CAC declined by 1.54 percent and 1.40 percent respectively while DAX was down by 1.71 percent on Thursday.
Indian stock market updates
Indian stock markets snapped a four-day losing streak on Thursday. The benchmark indices, Sensex and Nifty closed higher by 0.78 percent and 0.74 percent respectively on account of buying in the Energy, Pharma, and IT sectors. FIIs were the sellers and DIIs were the buyers in the equity cash segment. FIIs sold Rs 1512.64 crore while DIIs bought Rs 1624.9 crore in the cash segment on Thursday.
Securities Delivery Report
| Delivery Report Eod 09-06-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | GMRINFRA | GMRINFRA |
| 2 | SYNGENE | UBL |
| 3 | UBL | SYNGENE |
| 4 | HINDPETRO | MPHASIS |
| 5 | MPHASIS | GUJGASLTD |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | NAVINFLUOR | STAR |
| 2 | STAR | DEEPAKNTR |
| 3 | ATUL | INDHOTEL |
| 4 | INTELLECT | BAJFINANCE |
| 5 | CROMPTON | ALKEM |
Top news you should read before the trade setup for Friday 10 June 2022
On Thursday, the United Nations said that the Foreign Direct Investment (FDI) inflows of India declined to $45 billion in 2021 from $64 billion in the preceding year. The country’s rank jumped one notch to 7th position among 10 recipients of the FDI in the calendar year 2021, despite a decline in FDI inflow according to the United Nations Conference on Trade and Development (UNCTAD).
According to the India Rating report, the country’s Current Account Deficit (CAD) is likely to hit a 3-year high of 1.8 percent, or $43.81 billion in FY22, as against a surplus of 0.9 percent or $23.91 billion in FY21, a report said on Thursday. It has also been said that the CAD has moderated to $17.3 billion or 1.96 percent of GDP in the fourth quarter of FY22, as against $8.2 billion or 1.03 percent in the previous year.
On Thursday the Centre for Monitoring Indian Economy (CMIE) said India’s unemployment rate dropped from 7.83% in April to 7.12% in May. The number of employed in the country jumped by one million in May taking the total number employed in the country to 404 million.
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