Trade Setup for Thursday 15 Dec: Stock Market News
Trade setup for Thursday 15 Dec– 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 in the red on Thursday following negative cues from the US markets. The major Asian market equity indexes, Nikkei, Hang Seng, and Shanghai are trading lower by 0.30 percent, 2.06 percent, and 0.49 percent respectively. SGX Nifty is also trading lower by 59 points or 0.29 percent at 18695 levels.
The indication getting from the Asian market is negative today. The Indian stock market indexes are likely to open lower on a cautious note.
The US and European stock market indexes update
The US stock market indexes fell after the Federal Reserve raised 50 bps interest rates as expected, but its economic projection sees higher rates for long period. Almost all of the 11 major S&P sectors closed in the red on Wednesday. The healthcare sector only closed in the green whereas the financial sector was the worst performer.
The US equity benchmarks, Dow Jones and S&P 500 fell 0.42 percent and 0.61 percent respectively while Nasdaq was down by 0.76 percent on Wednesday.
European stock market indexes closed marginally lower on Wednesday, as investors digested the latest inflation reading and looked ahead to the US central bank’s interest rate decision. Basic resources slipped 1.7 percent to lead losses but sectors were a mixed bag, with utilities, real and F&B stocks gaining around 0.7 percent.
The pan- European Stoxx 600 edged down by 0.02 percent. The key European equity indexes CAC and DAX declined by 0.21 percent and 0.26 percent respectively while FTSE was down by 0.09 percent on Wednesday.
Indian stock market updates
Indian stock markets traded in a tight range and closed marginally higher on Wednesday. The equity market sentiments were positive, following gains in global markets and a decline in WPI inflation data. The market breadth was quite strong with the advance decline indicating a ratio of 2:1 at the close.
FIIs and DIIs both were net buyers in the equity cash segment. FIIs bought Rs 372.16 crore worth of shares while DIIs bought Rs 926.45 crore on Wednesday.
News you should read before the trade setup for today 15 Dec
As per the private report, India’s current account deficit (CAD) is expected to jump to a 37-quarter high of 4.4% of GDP at $36 billion as against $9.7 billion or 1.3% in the previous year. The reason for the rise in CAD can be linked to falling exports and high crude oil prices.
On Wednesday, Finance Minister Nirmala Sitharaman said the government is constantly monitoring the price rise situation in the country and is focused on further bringing down inflation. Sitharaman, while responding to the opposition’s question, said that the government is taking measures to tame inflation and will continue to do the same.
On Wednesday, while replying to the debate in Lok Sabha, the finance minister Nirmala Sitharaman said the government is on course to meet the FY23 fiscal deficit target of 6.4% of GDP and asserted that there is no fear of stagflation.
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