Trade setup for Thursday 24 March 2022- Morning report
Trade setup for Thursday– Good morning and welcome to the morning reports, the top things to know before the market opens today March 24, 2022
Asian markets are trading in the red on Thursday tracking the negative cues from US markets overnight due to a jump in oil prices. Nikkei and Hang Seng are trading lower by 1.09 percent and 0.95 percent respectively while Shanghai is trading lower by 0.69 percent. The SGX Nifty is trading lower by 49 points or 0.29 percent at 17206 levels. The indication getting from the Asian markets is negative, Indian stock markets are likely to open in the red today.
The US and European market Indexes update
The US market indexes declined as oil prices jumped. Investors were concerned about the rising energy prices, supply shortages, and inflation once again. The US market indexes, Dow Jones and S&P 500 fell 1.29 percent and 1.23 percent respectively while Nasdaq was down by 1.32 percent on Wednesday.
European markets erased early gain on Wednesday and slipped into the red as investors monitored the war in Ukraine and digested the latest soaring UK inflation numbers. The Brent crude oil prices for the May futures hits above $120 per barrel also dented the market sentiments on Wednesday. European market Index, FTSE was down by 0.22 percent while CAC and DAX were declined 1.31 percent and 1.17 percent respectively on Wednesday
Indian stock market updates
Indian stock markets ended in the red on Wednesday amid positive cues from the global markets. The benchmark indices, Sensex and Nifty closed lower by 0.53 percent and 0.40 percent respectively. FIIs were the buyers and DIIs were the sellers in the cash segment. FIIs bought Rs 481.33 crore while DIIs sold Rs 294.23 crore in the cash segment on 23 March 2022.
Top news and updates you should know before the trade setup for Thursday, March 24, 2022.
The Foreign Direct Investment (FDI) inflow which includes equity, the equity capital of unincorporated bodies, re-invested earnings, and other capital has declined in 2021. According to the Ministry of Commerce & Industry, the FDI inflow in the calendar year 2021 declined to $74.01 billion, 15 percent down from $87.55 billion recorded in the previous year.
According to a Crisil report, the production linked incentive (PLI) scheme will account for 13-15 percent of the average annual investment spending in key industrial sectors over 3-4 years time. The PLI has been announced for 15 sectors with government incentives to the tune of 1.93 lakh crore. Of this, 50-60 percent is to be spent on sectors with domestic manufacturing and export focus, and the rest on import localization.
The Brent crude oil May futures is trading above $123 per barrel on Thursday morning at 7.30 am IST
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