Trade Setup for Wednesday 27 July 2022: Stock Market News

Trade setup for Wednesday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today July 27, 2022

Asian markets are trading in the red on Wednesday tracking negative cues from Wall Street overnight. The market sentiments are cautious ahead of the Fed’s interest rate decision, which is due later in the day. Hang Seng and Shanghai are trading lower by 1.10 percent and 0.32 percent while Nikkei is trading flat to the negative at 7.20 am IST.

The SGX Nifty is trading flat to the positive at 16480 levels. The indications getting from the Asian markets are negative. The Indian stock markets are likely to open in a cautious mood today.

 

The US and European market indexes update

 

The US stock market indexes ended lower on Tuesday as the profit warning by the retail giant Walmart dragged down retail shares. The market sentiments were downbeat as the fresh data showed that US consumer confidence fell nearly 18 months low. The US market indexes, Dow Jones and S&P 500 fell by 0.71 percent and 1.15 percent respectively while Nasdaq was down by 1.87 percent on Tuesday.

European stock market indexes fell on Tuesday, with Germany, and Italy leading the declines across the major eurozone. Energy ministers approved a proposal for all EU countries to voluntarily cut gas use by 15% from August to March. The retail stocks slid after retail giant Walmart’s profit warning. European market indexes, FTSE closed flat, while CAC and DAX were down by 0.42 percent and 0.86 percent respectively on Tuesday.

 

Indian stock market updates

 

Indian stock market indexes closed lower for the second consecutive day amid weakness in global markets. The benchmark indices, Sensex and Nifty closed lower by 0.89 percent each on Tuesday. The market breadth was weak with advance decline indicating a ratio of 1:2 at the close. FIIs were the net sellers, they sold Rs 1548.29 crore in the equity cash segment, while DIIs bought Rs 999.36 crore on Tuesday. 

 

 

Today’s Q1 Earnings 

 

Maruti Suzuki India, Tata Motors, Bajaj Finance, Biocon, Colgate-Palmolive, Aarti Drugs, Home First Finance Company India, JK Lakshmi Cement, CG Power and Industrial Solutions, Clean Science and Technology, Coromandel International, Dixon Technologies, EIH, Fino Payments Bank, Latent View Analytics, Laurus Labs, Novartis India, Poonawalla Fincorp, etc will announce their quarterly results today.

 

News you should read before the trade setup for Wednesday 27 July 2022.

 

On 26 July, the International Monetary Fund (IMF) cut India’s GDP growth forecast by 80 basis points to 7.4 percent for the current financial year. This is mainly because of less favorable external conditions and more rapid policy tightening’ the IMF said on Tuesday in an update to its World Economic Outlook report. It has also reduced the growth forecast for FY24 by 80 basis points to 6.1 percent.

 

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