Trade Setup for Thursday 22 Dec: Stock Market News
Trade setup for Thursday 22 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 higher on Thursday, tracking positive cues from Wall Street overnight. The key Asian market indexes Nikkei, Hang Seng, and Shanghai are trading higher by 0.25 percent, 2.14 percent, and 0.54 percent respectively at 7.25 am IST. The SGX Nifty is also trading higher by 97 points or 0.53 percent at 18347 levels.
The indication getting from the Asian and other global markets is positive today. Indian stock market indexes will open higher and markets may remain positive today.
The US and European stock market indexes update
The US stock market indexes closed higher on Wednesday as the shares of Nike and FedEx jumped due to improved quarterly earnings and sales forecast., The markets further got boosted by the Consumer Confidence data that jumped in December to its highest level since April and on easing inflation expectations.
The equity benchmarks, Dow Jones and S&P 500 gained 1.60 percent and 1.49 percent respectively while Nasdaq was up by 1.54 percent on Wednesday.
European stock market indexes extended their early gains due to better-than-expected US consumer confidence data. In the morning session markets were trading higher after a survey showed German consumer sentiment data improved in January. The upbeat quarterly earnings from US giant Nike and Uniper bailout news also supported the European markets on Wednesday.
The pan European Stoxx 600 closed higher by 1.71 percent. Retail sectors led gains followed by financial services and mining stocks. The key European indexes, FTSE and DAX gained 1.72 percent and 1.54 percent respectively while CAC jumped 2.01 percent on Wednesday.
Indian stock market updates
Indian stock market indexes closed lower on Wednesday, as investors fear surges in Covid cases in China and several other places. The market breadth turned negative as the session progressed with the advance decline indicating a negative ratio of 1:3 at the close. At the close, the Sensex and Nifty indexes closed lower by over 1 percent each today.
The volatility index “ India vix” rose nearly 13% at close to a 15.56 level, indicating market volatility would remain for a few days more. FIIs were the net sellers, they sold Rs 1119.11 crore while DIIs bought Rs 1757.37 crore worth of shares in the Indian equity cash segment on Wednesday.
News you should read before the trade setup for today 22 Dec
The fresh Covid-19 variant Omicron’s BF.7, which is driving the fresh surge of infection in China has been detected in India, the health ministry sources said on December 21. At least four such cases linked to the new variant have been confirmed. You can read the full news here on Moneycontrol.com
The RBI Governor Shaktikanta Das is of the option that a premature pause in the monetary policy rate hike course would prove to be a costly policy error at this point. This is shown in the minutes of the last MPC meeting which was held in the first week of December and was released on Wednesday.
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