Trade Setup for Wednesday, Sept 13, 2023: Stock Market Today

 

Trade Setup for Wednesday

 

Trade setup for Wednesday, Sept 13, 2023– Good morning, and welcome to the morning reports, the top things to know before the stock market opens and ahead of Trade Setup today.

 

Asian Stock Markets

 

Asian stock market indexes are trading mixed on Wednesday, as investors remain cautious ahead of the US inflation data and access the key economic data out of Japan and South Korea. The latest data showed that the corporate confidence in Japan declined in September, both manufacturers and non-manufacturers, according to the Reuters Tankan poll. Japan’s Nikkei erased early gains and is trading lower by 0.33 percent.

Kospi is trading flat to the positive, as South Korea’s unemployment rate dipped to its lowest level since June 1999. Hang Seng and Shanghai are trading higher by 0.44 percent and 0.15 percent while Straits Times is trading flat to the negative.

Gift Nifty is also trading slightly lower by 9 points or 0.04 percent at 20064 levels. The indication from the Asian stock markets is slightly negative today. Indian stock markets are likely to open positive and will trade volatile today.

 

U.S. Stock Market Indexes Update

 

The US stock markets closed lower on Tuesday, as Tech stocks dragged, while a jump in Energy stocks capped the downside. Apple shares fell 1.71% after it launch of its iPhone 15, a new version of the Apple Watch and AirPods at its event day. 

The US market sentiments were subdued at the opening as Oracle reported second-quarter revenue growth lower than expected after the closing bell on Monday. The share price tumbled 13 percent, as investors were concerned about the slowing growth of the company’s cloud unit.

Energy stocks gained 3 to 4 percent, as crude oil prices rose after OPEC’s monthly report, which forecasted a solid growth in global oil demand amid tight supplies. 

The key US stock market indexes Dow Jones and S&P 500 fell 0.05 percent and 0.57 percent respectively while Nasdaq was down by 1.04 percent on Tuesday.

 

European Stock Market Indexes Updates

 

European stock market indexes closed on a mixed note on Tuesday, as investors remain cautious ahead of the key economic data from the US and China and the ECB interest rate decision.

Investors are analyzing the latest ZEW survey which showed that investor’s sentiments in Germany unexpectedly improved in September. German wholesale prices fell for the fifth month in a row, due to lower prices for mineral oil products.

The sentiment was downbeat as the share price of Smurfit Kappa fell 9% after the company had agreed to merge with US rival WestRock. The pan European Stoxx 600 index ended 0.2% lower, with Chemical stocks led the losses while auto and telecom stocks gained.

The key European stock market indexes CAC and DAX fell 0.35 percent and 0,54 percent respectively while the UK’s FTSE gained 0.41 percent on Tuesday.

 

Indian Stock Market Indexes

 

Indian equity benchmarks closed mixed on Tuesday. The domestic markets opened a gap-up in the morning and later profit booking at a higher level erased all early gains. The market sentiments remain cautious ahead of the CPI and IIP data. 

The market breadth turned weak with the advance-decline indicating 2:5 at the close. FIIs were the net sellers in the Indian equity markets while DIIs were the buyers on Tuesday. FIIs sold shares worth Rs 1047.19 crore while DIIs bought shares worth Rs 259.49 crore.

 

Note:- With Upstox Options Strategy Builder, you can create an option strategy. You can also try the ready-made options strategy for Free. Click here to Open Free Trading and Demat Account and get a lifetime Demat AMC Free with Flat Rs 20 Brokerages

 

News you should read before the trade setup for today Sept 13, 2023

 

On Tuesday, the Ministry of Statistics and Programme Implementation (MoSPI) showed that India’s retail inflation rate fell to 6.83 percent in August as compared to 7.44% reported in July. The decline in CPI inflation is due to ease in vegetable prices.

Separate data showed that India’s industrial output grew by 5.7 percent in July at a five-month high, The data came higher, as compared to 3.7 percent reported in June and the expectation of 5%

 

If you like the “Trade Setup for Wednesday, Sept 13, 2023: Stock Market Today” please share it with others.

 

You may also like to read, Stock Market Prediction Next Week (11-15 Sept 2023)

                                          Nifty and Bank Nifty Prediction for Tomorrow Sept 13, 2023  

 

Happy Investing!!

Editor’s Desk