Trade setup for Wednesday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today June 15, 2022
Asian markets are trading mostly in the green on Wednesday tracking mixed cues from Wall Street overnight. Nikkei is trading lower by 0.50 percent while Hang Seng and Shanghai are trading higher by 0.97 percent and 0.86 percent respectively. The SGX Nifty is trading higher by 18 points or 0.11 percent at 15740 levels at 7.15 am IST
The indication getting from the Asian markets is positive, Indian markets will open in the green today. Nifty is likely to open above 15750 levels today.
The US and European market Indexes update
The US benchmark indexes closed mixed on Tuesday following sharp losses in the two preceding sessions. The investors were in fear that the red hot inflation will prompt more aggressive rate hikes from the Federal Reserve. All eyes will be on the Federal Reserve interest rate decision today, investors expect an increase of 0.75 percent on Wednesday, which could be the largest since 1994.
The Nasdaq and S&P 500 are already entered the bear market after declining more than 20 percent from their highs. The US market indexes, Dow Jones and S&P 500 fell 0.04 percent and 0.05 percent respectively while Nasdaq was up by 0.02 percent on Tuesday.
European market indexes erased their early gains and closed in the red on Tuesday. The markets extended their sell-off for a sixth straight session on worries about aggressive US interest rate hikes and a potential recession. Traders were also concerned about the higher unemployment rate in the UK, which rose unexpectedly in the three months to April for the first time in a year.
European market indexes CAC and DAX declined by 1.20 percent and 0.91 percent respectively while FTSE was down by 0.25 percent on Tuesday.
Indian stock market updates
Indian stock markets ended marginally lower amid volatility on Tuesday. The benchmark indices, Sensex and Nifty closed lower by 0.29 percent and 0.27 percent respectively. FIIs were the sellers and DIIs were the buyers on Tuesday in the equity cash segment. FIIs sold Rs 4502.25 crores while DIIs bought Rs 3807.60 crore as per NSE provisional data.
Securities Delivery Report
| Delivery Report Eod 14-06-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | ADANIENT | SIEMENS |
| 2 | HAVELLS | AUBANK |
| 3 | JKCEMENT | CHOLAFIN |
| 4 | AUROPHARMA | AUROPHARMA |
| 5 | CONCOR | ADANIENT |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | PAGEIND | PAGEIND |
| 2 | HINDPETRO | POLYCAB |
| 3 | WHIRLPOOL | ZEEL |
| 4 | CROMPTON | CROMPTON |
| 5 | TECHM | IBULHSGFIN |
News you should read before the trade setup for Wednesday 15 June 2022.
On Tuesday, while addressing an event organized by UNDP India, the Chief Economic Adviser (CEA) V Anantha Nageswaran said India would become a $5 trillion economy by 2026-27 and $10 trillion by 2033-34. He further said that India is already at $3.3 trillion, and it is not such a difficult target to reach, if we assume 10% nominal GDP in dollar terms, then you get $10 trillion by 2033-34 and another doubling with the same rate.
On Tuesday, while updating about Global Economic Outlook, Fitch Ratings said the Reserve Bank is likely to raise interest rates further to 5.9 percent by December 2022, on the deteriorating inflation outlook.
The US producer price index (PPI) which measures what suppliers are charging businesses and other customers, rose a seasonally adjusted 0.8% in May against 0.4% in April. May’s PPI was double the April reading due to higher food and energy cost.
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