Trade Setup for Wednesday 11 Jan: Market News

 

Trade setup for Wednesday 11 Jan 2023– 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 higher on Wednesday following the positive cues from Wall Street overnight. The Asian key indexes, Nikkei and Hang Seng are trading higher by 1.05 percent and 0.78 percent respectively while Shanghai is trading marginally lower by 0.09 percent.

SGX Nifty is trading absolutely flat at 17982 at 7.15 am IST. The indication getting from the Asian markets is slightly positive today. Indian stock market indexes are likely to open in green. 

 

The US and European stock market indexes update

 

The US stock market indexes closed higher after initial volatility on Tuesday, on relief that Fed Chair Jerome Powell was quiet about commenting on rate policy. Markets are expecting a 25 bps rate hike in Fed’s upcoming February policy, as there are some indications that inflation is slowing significantly. Communications services led the gains on Tuesday followed by Energy stocks.

The key US stock market indexes, Dow Jones and S&P 500 gained 0.56 percent and 0.70 percent respectively while Nasdaq jumped 1.01 percent on Tuesday.

European stock market indexes closed lower on Tuesday, as investors shrugged off Powell’s speech and remain cautious ahead of more Inflation data due later during the week, the US will announce Consumer Price Index data for December on Thursday. 

The pan-European Stoxx 600 closed 0.56% lower provisionally. The index hit an eight-month high on Monday, as the U.K.’s FTSE 100 touched its highest level since 2018. All sectoral indices ended in the red led by retail stocks while auto stocks closed flat on Tuesday. At the close, FTSE and CAC declined 0.39 percent and 0.55 percent respectively while DAX was down by 0.12 percent on Tuesday.

 

Indian stock market updates

 

Indian stock market indexes closed lower on Tuesday amid negative global cues. The market sentiments were hit, as two officials of the US Federal Reserve made hawkish comments on Monday. Nifty closed below psychological levels (below 18K).

The market breadth turned negative with the advanced decline indicating a ratio of 2:3 at the close. Foreign Institutional investors (FIIs) were net sellers they sold Rs 2109.34 crore in the equity cash segments while DIIs bought Rs 1806.62 crore worth of shares on Tuesday.

 

News you should read before the trade setup for today 11 Jan 

 

On Tuesday, the World Bank said India is expected to be the fastest-growing economy among the seventh largest emerging-market and developing economies. It projected the Indian economy to grow at a robust 6.6% in FY2024, slowing down from an earlier estimate of 6.9% in 2022-23 and 8.7% in 2021-22.

In its Global Economic Prospects, the Bank further said global growth may decelerate sharply in 2023 to its third weakest pace in nearly three decades, cautioning that the world economy is “perilously close” to falling into recession.

According to a recent report, India’s Private Equity (PE) investments in domestic companies fell sharply by 42 percent to $ 23.3 billion on a year-on-year basis in 2022. This is the lowest PE investment since 2019, when it was $15.8 billion, according to an industry report. You can read the detailed post in the economic times here

 

If you like the post “Trade Setup for Wednesday 11 Jan: Stock Market News ” please share it.

 

You may also like to read, Stock Market Prediction Next Week (9- 13 Jan 2023)

                                    Nifty and Bank Nifty Prediction for Tomorrow 11 Jan 2023

 

Happy Investing!!

Editor’s Desk