Trade Setup for Monday 26 Sept: Stock Market News

 

Trade setup for Monday 26 Sept– Good morning and welcome to the morning reports, the top things to know before the stock market opens today

Asian stock market indexes are trading lower on Monday, tracking negative cues from Wall Street on Friday. Hang Seng and Nikkei are trading lower by 0.09 percent and 2.18 percent respectively while Shanghai is trading almost flat at 7.20 am IST. SGX Nifty is also trading lower by 174 points or 1.01 percent at 17154 levels.

The indication getting from the Asian markets is negative today. The Indian stock markets are likely to open a gap down today amid negative global cues. Nifty is expected to open below 17200 levels today.

 

The US and European market indexes update

 

The US stock markets fell sharply on the last day of the week. The market sentiments were hit, as investors fear that the aggressive monetary policy tightening by the central banks would trigger a global economic slowdown. Dow Jones fell to the lowest level in 2022 on Friday due to recession fear. The Treasury note spiked to the highest level since 2010.

The key US stock market indexes, Dow Jones and S&P500 fell 1.62 percent and 1.72 percent respectively while Nasdaq was down by 1.80 percent on Friday.

European stock markets declined on Friday and several key indexes in the region ended at multi-month low, as investors worried about the global recession. The energy crisis in Europe and the tightening of monetary policy by the central banks including the Fed, and BoE, raised concerns about global economic growth.

The key European stock market indexes, FTSE and DAX were down by 1.97 percent each while CAC was down by 2.28 percent on Friday.

 

Indian stock market updates

 

Indian stock markets fell sharply amid weak global cues on Friday. The benchmark indices, Sensex and Nifty were down by 1.73 percent and 1.72 percent respectively. The market breadth was weak with the Advance-Decline indicating a ratio of 1:3 at the close on Friday. FIIs were the net sellers they sold Rs 2899.68 crore in the equity cash segment while DIIs bought Rs 299.10 crore on Friday

 

News you should read before the trade setup for today 26 Sept

 

The Asian Development Bank ( ADB) in its latest report said that the Indian economic activity is still to reach pre-pandemic levels, and the RBI may slow down the pace of rate hikes until next year to curb soaring inflation while supporting growth. The ADB has also raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 percent from its earlier projection of 5.8 percent.

As the RBI data showed on Friday, the country’s foreign exchange reserve fell by $5.22 billion to $545.65 billion for the week ending Sept 16 to hit the lowest level since Oct 2, 2020. The foreign exchange reserve fell for the seventh straight week according to the RBI data.

 

If you like the post “Trade Setup for Monday 26 Sept: Stock Market News ” please share it.

 

You may also like to read,  Nifty and Bank Nifty Prediction for Monday 26 Sept 2022

                                            Stock Market Prediction Next Week (26- 30 Sept 2022)

 

Happy Investing!!

Editor’s Desk