Trade Setup for Tuesday 6 Dec: Stock Market News

 

 

Trade setup for Tuesday 6 Dec– Good morning and welcome to the morning reports, the top things to know before the stock market opens today

Asian stock market indexes are mostly trading in the red on Tuesday, following negative cues from Wall Street overnight. Nikkei is trading flat at this moment, just up by 0.02 percent while Heng Seng and Shanghai are trading lower by 0.72 percent and 0.22 percent respectively. SGX Nifty is also trading lower by 60 points or 0.32 percent at 18749 levels.

The indication getting from the Asian markets is negative, Indian stock market indexes are likely to open in the red zone today.

 

The US and European stock market indexes update

 

The US stock market indexes closed lower on Monday as investors worried after stronger-than-expected Services activity data in November. Investors started fearing that Fed could hike interest rates for longer. Tesla shares fell on Monday after the report of production cut in China.

The US key stock market indexes Dow Jones and S&P 500 declined by 1.40 percent and 1.79 percent respectively while Nasdaq was down by 1.93 percent on Monday. 

 

 

European stock market indexes ended lower on Monday after eurozone retail sales and business activity survey data showed the regional economy was headed for a recession. The metals and mining stocks were in demand due to the positive news of ease in covid restrictions in China.

The pan-Europe STOXX 600 declined by 0.37 percent on Monday. The key European stock market indexes CAC and DAX closed lower by 0.67 percent and 0.56 percent respectively while FTSE closed slightly higher by 0.15 percent on Monday.

 

Indian stock market updates

 

Indian stock market indexes closed almost flat amid volatility on Monday. The market sentiments were downbeat due to the rise in crude oil prices and some cautiousness ahead of the RBI Monetary policy which is expected later this week. The market breadth was equity positive with the advance decline indicating a ratio of 2:1 at the close.

FIIs were the sellers in the equity cash segment, they sold Rs 1139.07 crores worth of shares while DIIs were the buyers and they bought Rs 2607.98 crores with of shares

 

News you should read before the trade setup for today 6 Dec 

 

Ahead of the Union Budget 2023-24, a panel of economists has written to Finance Minister Nirmala Sitharaman and demanded an increase in Social Security Pensions and an adequate provision for maternity benefits. They already addressed the necessity of their demand to Shri Arun Jaitely and now they want to prioritize these two issues in the upcoming budget.

The government is considering allowing businesses to use Permanent Account Number (PAN) as a unique identifier to enter into the national single window system (NSWS) for various clearance and approvals of central and state departments, the commerce and industry minister Piyush Goyal said on Monday. Goyal further said that his ministry has already approached the department of revenue for this, you can read more on economic times here

 

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Happy Investing!!

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