Trade Setup for Tuesday 26 July 2022: Stock Market News
Trade setup for Tuesday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today July 26, 2022
Asian markets are trading mostly higher on Tuesday, following mixed cues from Wall Street overnight. Nikkei is trading lower by 0.20 percent while Hang Seng and Shanghai are trading higher by 0.52 percent and 0.15 percent respectively. The SGX Nifty is trading slightly lower by 21 points or 0.13 percent at 16597 levels.
The indication getting from the global markets are mixed, Indian stock markets are likely to open flat today. Nifty may open around 16600 levels
The US and European market indexes update
The US stock market key indexes closed mixed on Monday ahead of a busy week of corporate earnings, the Fed’s interest rate decision, and GDP data. The energy, utilities, and telecom sectors led gains while the technology, consumer services, and consumer goods sectors were the top losers. The sentiments were downbeat as the retail giant Walmart cut its profit outlook in late trading.
The US market indexes, Dow Jones and S&P 500 closed slightly higher by 0.28 percent and 0.13 percent respectively while Nasdaq was down by 0.43 percent on Monday.
European stock markets mostly recovered their early losses and closed higher on Monday as investors took support from the never-ending corporate news and ongoing issues of inflation and interest rate hike.
Germany’s DAX fell by 0.33 percent after the news flashed that Gazprom had cut its natural gas supplies to Germany through the Nord Stream 1 pipeline to 20%. European key indexes FTSE and CAC gained by 0.41 percent and 0.33 percent respectively on Monday.
Indian stock market updates
Indian equity markets started the F&O expiry week on a negative note amid weakness in global peers. The benchmark indices, Sensex and Nifty snapped a 6-day winning streak and closed lower by 0.55 percent and 0.53 percent respectively. FIIs and DIIs both were the net sellers in the equity cash segment on Monday. FIIs sold Rs 844.78 crores while DIIs sold Rs 72.26 crores on Monday.
Today’s Q1 Earnings
Larsen & Toubro, Asian Paints, Baid Finserv, Bajaj Auto, Tata Power Company, Union Bank of India, Aditya Birla Sun Life AMC, United Spirits, EIH Associated Hotels, EPL, Ethos, KEI Industries, Mahindra EPC Irrigation, Ujjivan Small Finance Bank, UTI Asset Management Company, Greenlam Industries, Ramco Systems, Symphony, Sanofi India, Shoppers Stop, Apollo Pipes, PNB Giltsetc will announce their Q1 results today.
Top news you should read before the trade setup for Tuesday 26 July 2022.
Deficit rainfall continues to worry farmers of Jharkhand and the other six states. The monsoon rain deficit climbed to 49% on Monday at Jharkhand, the second highest in the country after UP, as per the weather official report. Among the seven deficit rainfall states, UP recorded the highest shortfall of 54% followed by Jharkhand, and Bihar as per IMD
On Monday, the government said it raised a tax demand of Rs 14820 crore after completing an assessment in 368 cases under the black money law dealing with undisclosed foreign income. The Finance Minister Nirmala Sithraman said in a written reply to Lok Sabha that, in the case related to deposits made in unreported foreign bank accounts in HSBC, the undisclosed income of more than Rs 8468 crore has been bought to tax and penalty of over Rs 1294 crore has be levied.
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