Trade setup for Tuesday 15 March 2022- Morning report
Trade setup for Tuesday– Good morning and welcome to the morning reports, the top things to know before the market opens today March 15, 2022.
Asian markets are trading mostly in the red on Tuesday due to a fresh covid outbreak and reimposed lockdown in China. The technology hub in Hong Kong ‘ Shenzhen’ had been put into lockdown due to covid. Nikkei is trading marginally lower by 0.13 percent whereas Hang Seng and Shanghai are trading lower by 3.58 percent and 2.36 percent respectively at 7.30 am IST.
SGX Nifty is trading lower by 101 points or 0.60 percent at 16781 levels. The indication from the other Asian market peers is negative, Indian stock market indexes are likely to open in the red today.
The US and European market Indexes update
The US benchmark indexes mostly closed in the red on Monday as investors assessed the fresh Covid-19 outbreak in China. Investors remain cautious ahead of the Federal Reserve’s interest rate decision later this week. Dow Jones give up its early gains and closed flat to the positive, up only 1.05 points while S&P 500 and Nasdaq fell 0.74 percent and 2.04 percent respectively on Monday.
European markets closed higher on the first day of the week as crude oil prices dropped on the hopes of Russia-Ukraine ceasefire talks. The resurgence of Covid19 infection has reimposed lockdown in many places in China, which is another reason for the fall in oil demand. European market indexes, FTSE was up by 0.53 percent while CAC and DAX were up by 1.75 percent and 2.21 percent respectively on Monday.
Indian stock market updates
It was a strong start for the Indian stock markets on Monday amid mixed cues from the other Asian markets. The benchmark indices, Sensex and Nifty gained 1.68 percent and 1.45 percent respectively. FIIs were the seller and DIIs were the buyers in the cash segment. FIIs sold Rs 176.52 crore only while DIIs bought Rs 1098.62 crore in the cash segment on Monday.
Top news and updates you should know before the trade setup for Tuesday, March 15, 2022
The country’s CPI-based inflation in February rose slightly higher to 6.07 percent from 6.01 percent recorded in the month of January, as per the data released by the Ministry of Statistics and Programme Implementation (MoSPI) showed on Tuesday, 14 March. The Consumer Price Index (CPI) inflation for the same period in the last year was 5.03. The street was expecting, the CPI inflation to slip marginally in the month of February.
India’s unemployment rate for persons of age 15 years and above in urban areas dipped to 12.6 percent in April-June 2021 from 20.8 percent in the same period of the previous as the data showed a periodic labor force survey by the national statistical office (NSO). The unemployment rate was high in the 2020 April-June period due to Covid’s first wave.
The 10-year-old US Treasury bond yields have surged back to 2.103%, the highest level since 2019. Investors are worried as the isolation of Russia will increase inflation by boosting commodity prices.
The country’s largest PSU Bank SBI has forecast more pain for the rupee if the ongoing Russia-Ukraine war lingers. The largest domestic lender has forecast a new low of 77.5 to a dollar by June and slightly improving to 77 by end of December. According to SBI projection, the current account deficit (CAD) will be at 3.5 percent if crude oil trades at $130 per barrel, pulling down growth to 7.1 percent.
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