Trade Setup for Tuesday 5 Sept 2023: Stock Market Today

 

Trade setup for Tuesday 5 Sept 2023– Good morning and welcome to the morning reports, the top things to know before the stock market opens and ahead of Trade Setup today.

 

Asian Stock Markets

 

Asian stock market indexes are trading lower on Tuesday ahead of interest rate decisions from the Australian Central Bank and other economic data in the region. Investors will be closely monitoring the inflation data from Thailand and the Philippines. The Services PMI reading from China and Hong Kong will be released later in the day.

South Korea’s Kospi is trading lower by 0.16 percent as the country’s inflation rate came higher than expected in August. Japan’s Nikkei and Australian S&P/ASX 200 are trading lower by 0.03 percent and 0.40 percent respectively. Hang Seng and Shanghai are also trading lower by 0.94 percent and 0.35 percent respectively.

Gift Nifty is trading slightly higher by 4 points or 0.02 percent at 19603 levels. The indication from the Asian stock markets is slightly negative today. Indian stock market indexes are likely to open on a cautious note and remain volatile.

 

U.S. Stock Market Indexes Update

 

The US stock markets were closed on Monday on account of Labor Day. The Dow and Nasdaq futures are trading marginally lower after the public holiday on Tuesday.

 

European Stock Market Indexes Updates

 

European stock market indexes reversed their early gains in the late trade and closed in the red on Monday. Earlier, the market sentiments were upbeat following the news of stimulus measures in China and in the hope that the US Federal Reserve would pause rate hikes in the September meeting.

The fresh data showed that Eurozone investor’s sentiments are taking a disappointing turn in September. The data showed that the Sentix index, which gauges investor’s confidence fell to -21.5 in September, a further decline from -18.5 recorded in August. German trade data showed exports dropped by 0.9% on an MoM basis in July, while imports rose 1.4%, economists had forecasted a drop of 1.5% in exports.

The pan-European Stoxx index ended slightly lower by 0.04 percent at the close. The European stock market indexes, CAC and DAX pared early gains and closed lower by 0.24 percent and 0.10 percent respectively, while the UK’s FTSE was closed slightly lower by 0.16 percent on Monday.

 

Indian Stock Market Indexes

 

Indian stock markets ended higher for the second consecutive day on Monday. The domestic market sentiments were upbeat due to positive global cues. The broader markets continued to outperform their larger peers. Metals sectors.

The market breadth was quite positive with the advance decline indicating a ratio of 5:2 at the close. FIIs were the net sellers, they offloaded shares worth Rs 3367.67 crore while DIIs bought shares worth Rs 2563.48 crore.

 

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