Trade Setup for Friday: Stock Market Today (24 Nov 2023)
Trade Setup for Friday
Trade Setup for Friday, 24 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 market indexes are trading mixed on Friday, as investors assess the key economic data from the region. Japan’s Nikkei resumed its trading after a holiday, gaining 1.01% as the country’s core inflation rose at a slightly slower-than-expected pace in October. Meanwhile, investors are looking ahead to the Jibun Bank flash PMI factory activity data for the month of November.
Australia’s S&P ASX 200 index is up 0.40%, while South Korea’s Kospi is slightly down by 0.11%. Shanghai index and Hang Seng are trading lower by 0.23% and 1.11% respectively. Taiwan is trading slightly higher by 0.12% at 7.10 a.m. IST.
U.S. Stock Market Indexes Updates
The US stock markets were closed on Thursday on account of Thanksgiving Day.
European Stock Market Indexes Updates
European stock market indexes closed marginally higher on Thursday following mixed cues from Asian markets. The trading volumes were thin, as the US stock markets were closed. The latest data showed eurozone employment fell for the first time in three years.
According to the flash PMI data, the eurozone business activity continued to decline in November, though the rate of contraction slowed in output and new business.
In the UK, the flash composite PMI for November jumped to 50.1 from 48.7 last month, with the services sector returning to growth while a slight slowdown was recorded in manufacturing activity.
The pan-European Stoxx 600 index gained 0.31%, with Oil and gas stocks gaining the most, despite the continued fall in oil prices after OPEC delayed its policy meeting, while the travel stocks led losses. The key European stock market indexes, CAC and DAX gained 0.23% and 0.24% respectively, while the UK’s FTSE was up by 0.19% on Thursday.
Indian Stock Market Indexes
Indian stock market indexes closed flat to the negative territory on Thursday amid mixed global cues. The domestic markets extended gains after opening higher and then pared all gains and traded sideways throughout the day. In the absence of any positive trigger, markets witnessed profit booking at a higher level and ended flat to the negative.
The market breadth was almost flat with the advance decline indicating a neutral ratio at the close. Foreign investors and DIIs both were buyers in the Indian equity cash segments, FIIs bought shares worth Rs 255.53 crore while DIIs purchased Rs 457.39 crore on Thursday.
Stock Market Today
Gift Nifty is trading slightly lower at 19864. The indication from the Asian stock market indexes is slightly positive. Indian stock market indexes are likely to open on a cautious note and will trade sideways.
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