Trade Setup for Wednesday 19 Oct: Market News

 

 

Trade setup for Wednesday 19 Oct– Good morning and welcome to the morning reports, the top things to know before the stock market opens today

Asian stock market indexes are trading mixed on Wednesday amid positive cues from the US markets overnight. Nikkei is trading higher by 0.66 percent whereas Hang Seng and Shanghai are trading lower by 0.47 percent and 0.24 percent respectively. SGX Nifty is trading higher by 27 points at 17522 levels.

The indication getting from the Asian markets are mixed today. The Indian stock market indexes are likely to open positive, as the overall domestic as well global sentiments are positive. Nifty is likely to open around 17550 levels

 

The US and European market indexes update

 

The US stock market indexes closed higher on Tuesday and rallied for the second consecutive day as better-than-expected quarterly earnings improved the market sentiments. The easing of turmoil in the UK’s stock market also lifted the trader’s confidence. On Tuesday, Energy stocks also gained despite the oil prices stumbling amid ongoing demand concerns.

The US stock market indexes, Dow Jones and S&P 500 gained 1.12 percent and 1.14 percent respectively while Nasdaq was up by 0.90 percent on Tuesday.

European stock market indexes ended higher for the fourth straight session on Tuesday, extending their previous session’s rally that was driven by Britain’s reversal of its controversial tax-cutting plan. The market sentiments were also got boosted by a positive US session with upbeat quarterly earnings 

The pan-Europe Stoxx 600 rose 0.34 percent on Tuesday. The key European stock market indexes FTSE and CAC gained 0.24 percent and 0.44 percent respectively while DAX was up by 0.92 percent on Tuesday.

 

Indian stock market updates

 

Indian stock market indexes closed higher on Tuesday amid positive cues from the global markets. The domestic markets gained a third consecutive session on the back of buying in all sectoral indices. The key indices, Sensex, and Nifty gained 0.94 percent and 1.01 percent respectively on Tuesday. The market breadth was quite strong with the advance: decline indicating a ratio of 5:2 at the close. FIIs were net sellers, they sold Rs 153.40 crore while DIIs bought Rs 2084.71 crore on Tuesday.

 

Q2FY23 Results Today

 

IndusInd Bank, UltraTech Cement, HDFC Asset Management Company, Nestle India, 5paisa Capital, AU Small Finance Bank, CG Power, and Industrial Solutions, Havells India, Home First Finance Company India, Inox Leisure, Metro Brands, Max Financial Services, Nippon Life India Asset Management, Navin Fluorine International, Persistent Systems, Shoppers Stop, and Syngene International, etc will announce their Q2 results on October 19.

 

News you should read before the trade setup for today 19 Oct 

 

According to the Mercer CFS Global Pension Index Survey, India stood at 41 positions out of 44 countries in 2022. There is a marginal improvement in its index value compared to the 40th position out of 43 countries assessed on last year’s global pension index survey.

The survey that released on Tuesday also suggested that India needs to boost coverage under private pension arrangements and strengthen its regulatory framework to bring more and more of its workers under the social security net.

If you like the post “Trade Setup for Wednesday 19 Oct: Market News ” please share it.

 

You may also like to read, Stock Market Prediction Next Week (17- 21 Oct 2022)

                                 Demat & Trading Account- Discount Vs Full Services Broker

 

Happy Investing!!

Editor’s Desk