Trade Setup for Tuesday 13 Dec: Stock Market News

 

Trade setup for Tuesday 13 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 mostly trading in the green on Tuesday, following positive cues from Wall Street. Nikkei and Hang Seng are trading higher by 0.32 percent, and 0.28 percent, while Shanghai is trading marginally lower by 0.08 percent. SGX Nifty is trading higher by 28 points or 0.15 percent at 18626 levels.

The indication getting from the Asian and other global markets is positive. The Indian stock markets are likely to open in the green today but would remain volatile.

 

The US and European market indexes update

 

The US stock market indexes closed higher on Monday as investors are expecting a softer inflation rate and slow down in interest rate hikes from Fed this week. The retail inflation data for November month is due on Tuesday ahead of the Federal Reserve meeting outcome which is scheduled for Wednesday. Investors are expecting cooler inflation and a 50 bps rate hike from Fed.

The gains in Microsoft Corp due to the news of buying a 4% stake in the London Stock Exchange Group (LON: LSEG) supported boosting the market sentiments on Monday. The key US stock market indexes, Dow Jones and S&P 500 gained 1.58 percent and 1.43 percent respectively while Nasdaq was up by 1.26 percent on Monday.

European stock market indexes closed lower on Monday on fears over rising covid cases in China. The investors remained cautious ahead of the latest US inflation reading, as well as Fed and ECB interest rate decisions later during the week. Mining stocks fell the most while oil and gas stocks made the gains on Monday. 

The pan-Europe Stoxx 600 closed lower by 0.4 percent. The key European indexes, FTSE and CAC fell 0.41 percent each while DAX was down by 0.45 percent on Monday.

 

 

Indian stock market updates

 

Indian stock markets closed flat on Monday amid volatility. The market sentiments were subdued due to weak global cues and cautiousness ahead of the domestic inflation and IIP data. The market breadth was quite strong with the advance-decline indicating a ratio of 4:3 at the close. FIIs were the net sellers, they sold Rs 138.81 crore worth of shares in the equity cash segment while DIIs bought Rs 695.60 crore on Monday.

 

News you should read before the trade setup for today 13 Dec 

 

India’s consumer price-based inflation eased to 5.88 percent in November from 6.77 percent in October 2022. The CPI-based inflation eased within RBI’s tolerance band of 4-6% after 10 consecutive months. The market expectation for November retail inflation was 6.4 percent.

On Monday, another data released by the Ministry of Statistics and Programme Implementation (MOSPI) showed that India’s Industrial production contracted by 4% on an annual basis. The index of Industrial Production (IIP) had grown 4.2% in October 2021 and by 3.1% in September 2022.

 

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