Trade setup for Friday 11 March 2022- Morning report
Trade setup for Friday 11 March 2022- Top things to know before market opens
Trade setup for Friday- Good morning and welcome to the morning reports, the top things to know before the market opens today March 11, 2022
Asian markets are trading negatively on Friday tracking the negative cues from Wall Street overnight. Nikkei and Hang Seng are trading lower by 2.42 percent and 2.61 percent respectively while Shanghai is trading lower by 1.33 percent. SGX Nifty is trading lower by 58 points or 0.35 percent and at 16511 levels at 7.30 am IST. The Asian and other global market cues are negative, the Indian stock market is likely to open in the red today.
The US and European market Indexes update
The US markets were closed in the red on Thursday due to surges in oil prices. The market sentiments were hit as the peace talks between Russia-Ukraine ended without any progress and the US CPI inflation reached a 40-year high. The US market indexes, Dow Jones and S&P 500 fell 0.34 percent and 0.43 percent respectively while Nasdaq was down by 0.95 percent on Thursday.
European markets fell sharply on Thursday after the previous session’s superb rally as talks between Russia and Ukraine foreign ministers failed to make any progress. The market sentiment was also negative as European Central Bank (ECB) in its policy said it will end the bond-buying program by September. European market indexes, FTSE fell 1.27 percent, and CAC and DAX were down by 2.83 percent and 2.93 percent respectively on Thursday.
Indian stock market updates
It was a strong and optimistic start for the Indian stock markets on Thursday amid positive global market cues. The benchmark indices, Sensex and Nifty gained 1.50 percent and 1.53 percent respectively. FIIs were the sellers and DIIs were the buyers in the cash market segment. FIIs sold Rs 1981.15 crore while DIIs bought Rs 945.71 crore in the cash segment on Thursday.
Top news and updates you should know before the trade setup for Friday, March 11, 2022
The European Central Bank (ECB) announced its policy on Thursday, it is planning to phase out its large bond-buying program by September. ECB has kept the interest rate on hold and said would take a step towards raising interest rates after the bond-buying program gradually.
The US inflation climbed to a record high at 7.9% in February 2022 due to a surge in energy and commodity prices impacted by the Russia-Ukraine war. The inflation rate recorded in January 2022 was 7.5%, February’s inflation recorded the highest rate since January 1982, when the annual inflation rate was 8.4%.
Morgan Stanley on Thursday trimmed India’s FY23 real GDP growth estimate to 7.9%, mainly due to the impact of the Russia-Ukraine war and surges in oil prices. American brokerage house also raised their inflation forecast to 6% above RBI comfort zone and flagged stagflation risk due to ongoing events, stagflation involves a stagnancy in output or growth, coupled with high inflation.
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