Trade Setup for Wednesday 14 Sept: Market News
Trade setup for Wednesday 14 Sept– Good morning and welcome to the morning reports, the top things to know before the stock market opens today
Asian markets are trading lower on Wednesday amid tracking negative cues from the US markets overnight. Nikkei and Hang Seng are trading lower by 2.27 percent and 2.61 percent respectively while Shanghai is trading down by 0.84 percent at this moment. The SGX Nifty is also trading lower by 291 points or 1.61 percent at 17800 levels.
The cues from the Asian and other markets are negative today. The Indian stock market indexes are likely to open a gap-down today. Nifty may open around 17800 levels today.
The US and European market indexes update
The US stock market indexes fell sharply over more than two years after hotter-than-expected inflation data was released on Tuesday. Investors’ hoped that cooling prices would prompt the Fed to moderate the interest rate hikes in the coming meeting, but it got smashed on Tuesday. Selling pressure was seen in stocks, bonds, oil, and gold, while tech stocks fell the most.
The key market indexes, Dow Jones and S&P 500 fell 3.94 percent and 4.32 percent respectively while the tech-heavy Nasdaq declined 5.16 percent on Tuesday.
European shares declined on Tuesday due to hotter than ex[ected US inflation data cemented bets for larger interest rate hikes by the Federal Reserve. In Europe Interest rate-sensitive tech stocks weighed the most, down 3.2%, while real estate names lost 3.9%. The defensive utility sector was the sole gainer among major sub-sectors in Europe.
The European stock market indexes, CAC and DAX were down by 1.39 percent and 1.59 percent respectively while FTSE was down by 1.17 percent on Tuesday.
Indian stock market updates
Indian stock market indexes closed higher on Tuesday amid positive global cues. The Indian markets gained despite weak economic data released on Monday. The benchmark indices, Sensex and Nifty closed higher by 0.76 percent and 0.75 percent respectively. The market breadth continued to remain strong with the Advance-Decline indicating a ratio of 3:2 at the close. FIIs were the buyers, they bought Rs 1956.98 crore worth of shares in the equity cash segments while DIIs sold Rs 1268.43 crore on Tuesday.
News you should read before the trade setup for today 14 Sept
On Tuesday, the US Labor Department reported its consumer price index rose 8.3 percent in August from the same month a year ago. The US inflation was reported at 8.5 percent in July and 9.1 percent in June, which was recorded as the highest inflation rate in four decades.
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