Trade Set Up for Friday, 7 Jan 2022- Top things to know

January 7, 2022 admin

Trade Set Up for Friday, 7 Jan 2022- Top things to know before markets open

Good morning and welcome to the stock market morning report for trade setup for Friday, 7 Jan 2022

Asian markets are mostly trading on a positive note on Friday amid negative cues from Wall Street overnight. Shanghai and Hang Seng are trading higher by 0.40 percent and 0.62 percent respectively while Nikkei is trading lower by 0.20 percent at this time. The SGX Nifty is trading higher by 14 points or 0.08 percent and at 17834 levels. The indications getting from the Asian markets are positive for the Indian stock market today.

It was a choppy trading session for the US markets on Thursday as traders worried about the impact of the Fed’s interest rate hike faster than once anticipated. The US markets indexes closed marginally lower on Thursday, Dow and S&P500 fell 0.47 percent and 0.10 percent respectively while Nasdaq was down 0.13 percent on 6 January.

European market indexes closed in the red on Thursday as hawkish comments by the Federal Reserve meeting’s minutes hit the US and Asian market sentiments. European Indexes CAC and DAX were down by 1.72 percent and 1.35 percent respectively while FTSE fell 0.88 percent on Thursday.

Indian stock market indexes closed in the red on Thursday amid weak global cues. The key benchmark, Sensex and Nifty closed lower by 1 percent and 1.03 percent respectively on Thursday. FIIs were the seller and DIIs were buyers in the cash market segment. FIIs sold Rs 1926.77 crore while DIIs bought Rs 800.91 on 6 January.

Top news and updates before trade set up for Friday, 7 Jan

stock market news today

Due to the increase in new covid variants, India is aiming for a fiscal deficit of 6.3 percent to 6.5 percent of GDP for the next financial year, a less ambitious target than previously planned, according to the government officials and the report published in economic times.

On Thursday, according to DPIIT Secretary Anurag Jain, the third wave of covid is unlikely to have much impact on India’s economic growth, not more than 5-10 basis points.

The number of Americans applying for unemployment benefits rose by 7000 last week to 207000 but remained at historically low levels. This suggests a strong job market in the US.