Trade Setup for Thursday 13 Oct: Stock Market News
Trade setup for Thursday 13 Oct– Good morning and welcome to the morning reports, the top things to know before the stock market opens today
The key Asian stock market indexes are trading in the red on Thursday, tracking negative cues from Wall Street overnight. Nikkei, Hang Seng, and Shanghai are trading lower by 0.56 percent, 0.63 percent, and 0.47 percent respectively. The SGX Nifty is also trading lower by 52 points or 0.30 percent at 17053 levels at 7.15 am IST.
The indication getting from the Asian Stock Markets is negative. The domestic sentiments are also slightly negative due to weak economic data released on Wednesday. Indian stock market indexes are likely to open lower on a cautious note.
The US and European market indexes update
The US stock market indexes closed marginally lower after a volatile trading session on Wednesday. The sentiments were dampened after the release of PPI data and the FOMC minutes of the last meeting. The minutes of the last Fed meeting showed that policymakers agreed that they needed to maintain a more restrictive policy stance to control inflation.
Investors are now nervous and looking out for Thursday’s inflation data to gauge the pace of interest rate hikes by the Federal Reserve in its November meeting. The US benchmarks, Dow Jones and S&P 500 fell 0.10 percent and 0.33 percent respectively while Nasdaq was down by 0.09 percent on Wednesday.
European equity key indexes closed lower on Wednesday. The benchmark pan-Europe Stoxx 600 fell 0.3% due to a loss in retail and banking space. Netherlands-based health technology company Philips was the worst performer, declining 12% after the company issued a third-quarter profit warning.
The bond yields edged higher as investors digest BoE’s plans to end the bond-purchasing program on Friday. European key indexes CAC and DAX were down by 0.25 percent and 0.39 percent respectively while FTSE was down by 0.86 percent on Wednesday.
Indian stock market updates
Indian stock markets closed higher on Wednesday despite weak global cues. The benchmark indices, Sensex and Nifty gained 0.84 percent and 0.82 percent respectively. The market breadth was almost flat on Wednesday with the advance-decline indicating a neutral ratio at the close. FIIs were the net sellers, they sold Rs 542.36 crore in the equity cash segment while DIIs bought Rs 85.32 crore on Wednesday.
Q2FY23 Results Today
Infosys, Mindtree, Angel One, Anand Rathi Wealth, Aditya Birla Money, Cyient, and Den Networks will announce their Q2FY23 earnings today.
News you should read before the trade setup for today 13 Oct
According to the latest data shown by the government on Wednesday, India’s retail CPI-based inflation surged to 7.41% in September, the highest level in 5-month. Retail inflation was recorded at 7% in the month of August. The inflation reading for Asia’s third-largest economy quickened on pressure from high food prices, as vegetable prices rose by 18% in September.
On Wednesday, another data showed that India’s Index of Industrial Production (IIP) data fell 0.8% in August as compared to a growth of 2.2% in July. The fall in IIP reading was due to a decline in manufacturing and mining outputs
If you like the post “Trade Setup for Thursday 13 Oct: Stock Market News ” please share it.
You may also like to read, Nifty and Bank Nifty Prediction for Tomorrow 13 Oct 2022
Demat & Trading Account- Discount Vs Full Services Broker
Happy Investing!!
Editor’s Desk
