Trade Setup for Tuesday 14 March: Stock Market News

 

Trade setup for Tuesday 14 March 2023– 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 lower on Tuesday, as investors struggle with the fallout of failed banks in the US, including SVB. Japan’s Nikkei is trading lower by 2.47 percent, as shares of SoftBank fell more than 3%. Shanghai and Heng Seng are also trading lower by 0.38 percent and 0.26 percent respectively. 

SGX Nifty is trading higher by 28 points or 0.17 percent at 17207 levels. The indication getting from the other Asian markets is negative today but SGX Nifty is positive. The Indian stock market Indexes are likely to open on a cautious note today.

 

U.S. and European stock market indexes update

 

The US stock market indexes closed mixed on Monday, Dow and S&P 500 closed lower after a volatile session due to a fall in regional bank stocks. While Nasdaq ended higher due to a sharp drop in Treasury yields and amid bets of a less aggressive Federal Reserve due to an ongoing crisis in the banking sector even after the rescue of SVB.

Meanwhile, Goldman Sachs, believes the Federal Reserve will not hike interest rates at all in March, due to the stresses in the banking system. Jumped in tech stocks supported the tech-heavy Nasdaq to close higher by 0.45 percent, while Dow Jones and S&P 500 ended lower by 0.28 percent and 0.15 percent on Monday.

European stock market indexes ended sharply lower on Monday amid the fallout from the Silicon Valley Bank collapse. The banking stocks hit their worst day in the last 12 months despite HSBC agreeing to buy the SVB UK arm for £1, while the customer deposits will be protected as part of the deal

The pan-European Stoxx 600 fell 2.3% on the first day of the week. The key Europen stock market indexes, FTSE and CAC declined by 2.65% and 2.98% respectively while DAX was down by 3.13% on Monday.

 

Indian stock market updates

 

Indian stock markets opened on a cautious note on the first day of the week amid week cues from Wall Street on Friday. The crisis in US mid and small banks fret global investors and triggered a selloff, particularly in Banking stocks. 

The market breadth was quite weak with the advance decline indicating a ratio of 1:4 at the close. FIIs were net sellers, they offloaded Rs 1546.86 crore worth of shares in Indian equity, while DIIs were the net buyers they bought Rs 1418.58 crore on Monday

 

News you should read before the trade setup for today 14 March

 

On Monday. the Ministry of Statistics and Program Implementation (MoSPI) showed that India’s retail inflation has declined marginally to 6.44% on YoY in February as compared to 6.52% reported in January. The sequential inflation declined by 0.17%. The inflation remains high above the RBI tolerance upper band of 6% for the second consecutive month and it is due to rising food prices. 

The DBS Group of Research said that the RBI is likely to hike the key rates by 25 bps points in the next month’s policy meeting, as inflation is above RBI’s comfort zone. The central bank has hiked 250 bps points since May last year.

 

If you like the “Trade Setup for Tuesday 14 March: Stock Market News ” post, please share it.

 

You may also like to read,  Nifty and Bank Nifty Prediction for Tomorrow 14 March 2023

                                                Stock Market Prediction Next Week (13-17 March 2023)                  

 

Happy Investing!!

Editor’s Desk