Trade Setup for Tuesday 31 May 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 May 31, 2022
Asian markets are trading flat on Tuesday, after the previous day’s rally on China’s stimulus hopes. Nikkei, Hang Seng, and Shanghai are trading flat with negative bias, looking for a direction. SGX Nifty is trading lower by 32 points or 0.19 percent at 16615 levels at 7.30 am IST.
As per the indication getting from the Asian markets, Indian stock markets are likely to open in a cautious mode. The Nifty may open flat near 16600 levels today.
The US and European market Indexes update
The US markets were closed on Monday on account of Memorial day.
European stock markets advanced on Monday, taking positive cues from the Asian markets, as major Chinses cities began to ease Covid-related mobility restrictions and on stimulus hopes. However, the upside was limited, as the elevated Spanish inflation increased the pressure on the European Central Bank for rate hikes. European market indexes, CAC and DAX gained 0.72 percent and 0.79 percent respectively while FTSE was up by 0.19 percent on Monday.
Indian stock market updates
Indian stock markets made a gap-up opening on Monday, tracking positive cues from the global markets. The benchmark indices, Sensex and Nifty closed nearly 2 percent higher today, as lifting covid-19 related restrictions in China boosted the market sentiments on Monday. FIIs turned buyers in the equity cash segment after a long gap and bought Rs 502.08 crores while DIIs bought Rs 1524.49 crore in the equity cash segment on Monday.
Securities Delivery Report
| Delivery Report Eod 30-05-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | CUB | CUB |
| 2 | CROMPTON | CROMPTON |
| 3 | DIXON | GUJGASLTD |
| 4 | DALBHARAT | JUBLFOOD |
| 5 | AMBUJACEM | ABB |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | JSWSTEEL | JSWSTEEL |
| 2 | AUROPHARMA | SUNPHARMA |
| 3 | KOTAKBANK | IPCALAB |
| 4 | TORNTPHARM | NMDC |
| 5 | ASHOKLEY | KOTAKBANK |
Top News before the trade setup for Tuesday, May 31, 2022.
On Monday, the government approved the extension of the Prime Minister Employment Generation Programme (PMEGP) till the financial year 2025-26 with a total outlay of Rs 13554.42 crore. The scheme will create ample scope and employment opportunities for about 40 lakh persons in five financial years, according to the ministry of micro, small and medium enterprises.
The fourth-quarter and FY2021-22 GDP growth will be announced later today. According to several economists, the Indian economy is estimated to slow down in the last quarter of the FY2021-22 due to Omicron Variant and a rise in commodity prices. Several analysts predict the GDP growth to remain between 3-5 percent.
The crude oil touched a new two-month high on Monday and the Brent crude oil price closed above $117 per barrel. The recent rise in crude oil prices is due to the increasing demand from China after lifting Covid-19 restrictions in Shanghai and Beijing. The Brent crude oil price is trading above $118 per barrel on Tuesday morning.
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