Trade setup for Thursday 17 March 2022- Top market news
Trade setup for Thursday– Good morning and welcome to the morning reports, the top things to know before the market opens today March 17, 2022
Asian markets are trading strong on Thursday tracking the positive cues from Wall Street overnight. Fed’s interest rate hike of 0.25 bps as per the market expectation and Chinese government supportive comment cheered the investors across the globe. Nikkei and Hang Seng are trading higher by 2.81 percent and 5.18 percent respectively. Shanghai is trading higher by 1.58 percent at 7.35 am IST.
SGX Nifty is trading higher by 269 points or 1.58 percent at 17276. The indication from the global markets is strong, Indian stock markets are likely to open the gap up today. Nifty is expected to open above 17200 levels.
The US and European market Indexes update
The US markets jumped on Wednesday after the Federal Reserve hiked 0.25 bps interest rate, as widely expected. The Federal Reserve projected the inflation averaging 4.3 percent by year-end, up from its previous forecast for a peak of 2.6 percent. The US indexes, Dow Jones was up by 1.55 percent while S&P 500 and Nasdaq gained 2.24 percent and 3.77 percent respectively on Wednesday.
European market indexes jumped on Wednesday in the hopes of peace talks may end the Ukraine war and the news from Beijing to roll out more stimulus packages to boost the economic growth. Investors are now focused on the Federal Reserves meeting outcome later today, where an interest rate hike is expected. European key indexes, FTSE gained 1.62 percent whereas CAC and DAX were up by 3.68 percent and 3.76 percent respectively on Wednesday.
Indian stock market updates
Indian stock markets opened gap-up after previous days’ selloff and ended on a strong note on Wednesday. The benchmark indices Sensex and Nifty closed higher by 1.86 percent and 1.87 percent respectively. FIIs and DIIs both were the buyers in the cash segment. FIIs bought Rs 311.99 crore while DIIs bought Rs 772.55 crore in the cash segment on Wednesday.
Top news and updates you should know before the trade setup for Thursday, March 17, 2022
In September 2021, the government extended the Foreign Trade Policy 2015-20 till 31 march 2022. The government is likely to further extend the current foreign trade policy (FTP) beyond March 31, 2022, an official said. The FTP provides guidelines related to export and import and it announces every 5 years. The present policy came into effect on April 1, 2015.
The US retail sales grew at 0.3% in February, a slower pace than in the previous month, due to higher inflation and rising energy prices.
The US Federal Reserve announced a quarter percentage points increase in its interest rate on Wednesday, making for the first-rate hike in four years. The central bank has also said that six more increases are expected by year’s end to control the elevated inflations was more hawkish than some investors expected.
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