Trade Setup for Friday 24 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 24, 2022
Asian markets are trading higher on Friday tracking positive cues from Wall Street overnight. Nikkei and Hang Seng are trading higher by 0.79 percent and 1.61 percent respectively while Shanghai is trading higher by 0.29 percent. The SGX Nifty is trading positive by 83 points or 0.53 percent at 15647 levels. The global market cues are positive, and Indian stock markets are likely to open higher today. The Nifty may open above 15650 levels today.
The US and European market Indexes update
The US markets gained on Thursday as traders watched the second day of the Federal Reserve Chairman Jerome Powell’s testimony in Washington. Powell warned that rapidly rising interest rates threatened a recession and further said that Fed would reluctant to cut interest rates until there is clear evidence of inflation coming down.
The US market indexes Dow Jones and S&P 500 gained 0.64 percent and 0.95 percent respectively while Nasdaq jumped 1.62 percent on Thursday.
European market indexes closed lower on Thursday as slowing euro zone business activity heightened growth concerns. German’s DAX was down by 1.76 percent at closing after the country triggered the “alarm stage” of its emergency gas plan.
The market sentiments got hit after the latest flash PMIs from Germany and France indicated a further economic weakness in June, raising the prospect that both the eurozone’s largest economies could slide into recession. European markets indexes CAC and FTSE also closed lower by 0.97 percent and 0.56 percent respectively on Thursday.
Indian stock market updates
Indian stock market indexes closed higher on Thursday amid volatility with support from positive Asian markets. The benchmark indices, Sensex and Nifty gained 0.86 percent and 0.93 percent respectively on the weekly expiry day. FIIs were the net seller, they sold Rs 2319.06 crore while DIIs bought Rs 2438.31 crore in the equity cash segment on Thursday.
Securities Delivery Report
| Delivery Report Eod 23-06-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | GMRINFRA | BOSCHLTD |
| 2 | EICHERMOT | GMRINFRA |
| 3 | ABB | IPCALAB |
| 4 | IPCALAB | APOLLOTYRE |
| 5 | BOSCHLTD | ABB |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | MANAPPURAM | OBEROIRLTY |
| 2 | MUTHOOTFIN | MANAPPURAM |
| 3 | HAVELLS | JKCEMENT |
| 4 | OBEROIRLTY | NATIONALUM |
| 5 | RELIANCE | GAIL |
Top news you should read before the trade setup for Friday 24 June 2022
On Thursday, according to a senior government official, India’s crude oil imports from Russia have increased over 50 times since April 2022. The crude oil import from Russia has overtaken Saudi Arabia last month and become the second-biggest supplier of oil contributing 10% of the total import. Earlier prior to the Ukraine war, it was just 0.2 percent of the total import throughout 2021.
On Thursday, the US labor department said, the number of Americans filing new claims for unemployment benefits was slightly down last week as labor market conditions remained tight. The initial claims for state unemployment benefits fell 2000 to a seasonally adjusted 229,000 for the week ended June 18. Reuters had forecasted 227,000 applications for the latest week.
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