Trade setup for Wednesday 9 March 2022- Morning Report
Trade setup for Wednesday 9 March 2022- top news to know ahead of the opening bell
Trade setup for Wednesday- Good morning and welcome to the morning reports, the top things to know before the market opens today March 9, 2022
Asian markets are trading in the green on Wednesday despite negative cues the Wall Street overnight. Nikkei and Shanghai are trading higher by 0.72 percent and 0.21 percent respectively while Hang Seng is trading flat to the positive, up only by 0.01 percent. SGX Nifty is trading higher by 53 points or 0.34 percent at 15995 levels. The indication getting from the other Asian market peers is positive, Indian stock markets are likely to open in the green today.
The US and European market Indexes update
The US key indexes closed lower on Tuesday after a volatile session, bouncing between losses and gains, as investors remained cautious on elevated bond yields, oil, and gold prices. The market indexes, Dow Jones and S&P 500 fell 0.56 percent and 0.72 percent respectively while Nasdaq was down by 0.28 percent on Tuesday.
European markets closed almost flat on Tuesday. FTSE closed marginally higher by 0.07 percent due to strong gains in energy stocks as oil prices jumped after Britain and the US announced a ban on Russian crude oil import. Whereas CAC and DAX were down marginally by 0.37 percent and 0.02 percent on Tuesday.
Indian stock market updates
Indian stock markets snap 4-Day losing streak and closed in the green on Tuesday. The domestic markets got support from the European markets in the second half and closed 1 percent higher. FIIs were the sellers and DIIs were the buyers in the cash segment. FIIs sold Rs 8142.60 crore while DIIs bought Rs 6489.59 crore in the cash segment on Tuesday.
Top news and updates you should know before the trade setup for Wednesday, March 9, 2022
On Tuesday, President Joe Biden announced a ban on US imports of Russian oil to punish Russia for invading Ukraine. Biden while addressing from the White House, said “ We are banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be acceptable at US ports and the American people will deal another powerful blow to Putin”
Prime Minister Narendra Modi will address global investors on Wednesday. The global investors including infrastructure, real estate, and legal sector experts on the strategy of CPSE privatization, asset monetization, and their contribution to India’s growth will be discussed.
The Department of Investment and Public Asset Management (DIPAM) in collaboration with NITI Aayog is organizing the apex level consultative post-Budget webinar. Finance Minister Nirmala Sitharaman will give her address in the concluding session of the webinar
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