Trade setup for Thursday 10 March 2022- Morning report
Trade setup for Thursday 10 March 2022- Top news to read before the opening bell
Trade setup for Thursday- Good morning and welcome to the morning reports, the top things to know before the market opens today March 10, 2022
Asian markets are trading strongly on Thursday tracking positive cues from the US markets. The ease in crude oil prices and hopes of successful peace talks between Russia-Ukraine cheered the global markets. Nikkei and Hang Seng are trading higher by 3.89 percent and 1.79 percent respectively while Shanghai is trading higher by 1.81 percent at this moment at 7.30 am IST.
SGX Nifty is trading higher by 268 points or 1.64 percent at 16613 levels. The indication getting from the Asian and other global markets is strong today. Indian stock market indexes are likely to open gap-up, Nifty may open above 16500 levels and remains volatile as markets will focus on both Russia-Ukraine news and Assembly election result.
The US and European market Indexes update
The US stock market indexes jumped on Wednesday as the crude oil and other commodity prices eased. The key indexes reversed their losses recorded in the previous session after President Joe Biden banned the import of Russian oil, gas, and coal into the US.
Meanwhile, the Chinese leader XiJinping asked France and Germany to peace talks between Russia and Ukraine also supported the market sentiment. The US market indexes, Dow Jones and S&P500 gained 2 percent and 2.5 percent respectively while Nasdaq was jumped 3.59 percent on Wednesday.
European market indexes extended their northward journey on Wednesday on news that Turkey will host peace talks between Ukraine and its invader Russia. Investors bet for the beaten-down stocks due to Russia-Ukraine peace talk hope. European market indexes, FTSE gained 3.25 percent while CAC and DAX rallied 7.13 percent and 7.32 percent respectively on Wednesday.
Indian stock market updates
Indian stock markets made a strong gain on Wednesday with the support of positive global cues. The benchmark indices, Sensex and Nifty gained 2.29 percent and 2.07 percent respectively. FIIs were the sellers and DIIs were the buyers in the cash segment. FIIs sold Rs 4818.71 crore while DIIs bought Rs 3275.94 crore in the cash segment on Wednesday.
Top news and updates you should know before the trade setup for Thursday, March 10, 2022
India Ratings and Research (Ind-Ra) said in a report that India’s current account deficit (CAD) is likely to widen to a 13-quarter high of $23.6 billion or 2.8 percent of GDP in the Q3 due to higher commodity prices following the Russia-Ukraine crisis. The report has further said that though the Omicron-led Covid wave has subsidized, the geopolitical risks to the global economic recovery have increased due to the Russia-Ukraine war.
The deputy head of the Ukrainian Presidential Office Igor Zhovkva said that the Ukrainian president is ready for a diplomatic settlement and would direct talk with Putin, Sputnik International reports. The official said that the direct talk between Zelensky and Vladimir Putin is essential “to stop this horrible war”
Assembly election results of five states will be announced today. As per the exit poll result, BJP will win big in UP and Manipur, AAP will win in Punjab and there will be a close contest in Uttarakhand and Goa. Markets will remain volatile due to election results.
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