Trade Setup for Friday: Stock Market Today (17 Nov 2023)
Trade Setup for Friday
Trade Setup for Friday, 17 Nov 2023: Good morning, and welcome to the morning reports, the top things to know ahead of market opening and Trade setup today.
Asian Stock Markets
Asian stock markets are trading in the red on Friday, due to a profit-taking after a strong rally, which was fueled by ease in the US inflation reading. Investors are now looking for economic data in the region. Japan’s Nikkei pared early losses and traded flat to the positive.
Australia’s S&P ASX 200 index is trading lower by 0.16%, while South Korea’s Kospi is down by 0.80%. Shanghai and Hang Seng are also trading lower by 0.44% and 1.68% respectively. Elsewhere, the Straits Times is trading in the red, while Taiwan is trading slightly higher at 7.45 a.m. IST
U.S. Stock Market Indexes Updates
The US stock markets closed mixed on Thursday. Dow Jones Industrial Average (DJIA) closed lower by 0.13% as retailer Walmart declined. The retail giant Walmart reported its corporate results and its guidance fell short of estimates due to worries about consumer strength. The weaker-than-expected jobless claim data fueled concerns about a slowing economy.
The S&P 500 and the tech-heavy Nasdaq composite index ended slightly higher at 0.12% and 0.07% respectively on Thursday.
European Stock Market Indexes Updates
European stock markets closed mixed on Thursday, as investors remain cautious after three consecutive days of gains. Mixed corporate results and a sharp fall in oil and luxury stocks also weighed on markets. The pan-European Stoxx 600 index declined by 0.72%. The UK’s FTSE fell the most in the region, as Burberry fell after a disappointing quarterly update.
The key European stock market indexes CAC closed lower by 0.57% while DAX ended higher by 0.24%. The UK’s FTSE was down by 1.02% on Thursday.
Indian Stock Market Indexes
Indian stock market indexes closed higher for the second consecutive day on optimism of ease in inflation data from domestically and US. The domestic markets gained despite negative cues from Asian markets. However, some profit booking was seen in the last hour and key indexes trimmed some intraday gains.
The market breadth was positive, with the advance decline indicating a ratio of 3:2 at the close. Both FIIs and DIIs were buyers, FIIs bought Rs 957.25 cr while DII purchased shares worth Rs 705.65 cr on Thursday.
Stock Market Today
Gift Nifty is trading slightly lower by 9 points at 19810 level. The indication from the US markets is mixed, while Asian Markets are trading slightly negative today. Indian stock market indexes are likely to open on a cautious note and remain volatile.
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