Trade set up for Friday, February 4, 2022-Morning Report
Trade set up for Friday, February 4, 2022- Stock Market Morning Report
Trade set up for Friday – Good morning and welcome to the morning reports, the top things to know before the market opens today February 4, 2022
Asian markets are trading mixed on Friday amid negative cues from Wall Street overnight. Nikkei is trading 0.20 percent lower whereas Hang Seng is trading 1.63 percent higher at this time at 7.35 am IST. Shanghai is not trading today due to the holiday. SGX Nifty is trading higher by 46 points or 0.27 percent at 17565 levels. The indication getting from the other Asian markets is positive, Indian markets are likely to open in the green today.
The US and European market Indexes update
The US markets fell sharply on Thursday as markets were dragged down by technology and social media companies. The Facebook owner Meta platforms and Paypal plunged after a disappointing quarterly earnings report. The US tech-heavy index Nasdaq was down by 3.74 percent on Thursday. The other key indexes, Dow Jones and S&P 500 also plunged 1.45 percent and 2.44 percent on Thursday.
European markets closed lower on Thursday as BOE hiked interest rate for the second time in a row and negative cues from the US markets at the opening. The market indexes CAC and DAX were down by 1.54 percent and 1.57 percent respectively while FTSE was down by 0.71 percent on Thursday.
Indian stock market updates
Indian stock markets closed lower on Thursday due to cautiousness in the global markets. The Sensex and Nifty closed lower by 1.29 percent and 1.26 percent respectively. FIIs and DIIs both were sellers in the equity cash segment on Thursday. FIIs sold Rs 1597.54 crore while DIIs sold Rs 370.58 crores in the cash markets.
Top news and updates you should know before the trade set up for Friday, February 4, 2022
CBDT Chairman JB Mohapatra on Thursday said, that the country’s direct tax collections are expected to breach the revised target of Rs 12.50 lakh crore and set a historic record high by the end of the current financial year on March 31. The multiple reasons like easing of the tax compliance process for taxpayers and enhanced ability of the taxman in data processing were the main reason for mopping up a high volume of collection in corporate and personal income tax
The economic think-tank NCAER said that the business confidence has remained optimistic in the third quarter of the current financial year, even though there was a rise in covid cases in December 2021. Business sentiments recovered in the Oct-Dec quarter of 2021-22 as compared to those prevailing in the previous quarter as per NCAER.
The Bank of England on Thursday hiked the main interest rate by 0.25 bps to 0.50 for the second time in a row in order to tackle decade-high inflation.
The US jobless claims fell by 23000 to 238000 in the week ended 29 January, according to the Labour Department, the lowest reading in three weeks and below economists’ expectations. The US monthly Unemployment data is expected today.
Today’s Q3 earnings
Tata Steel, Shree Cement, Bank of India, InterGlobe Aviation, One 97 Communications, Siemens, Aditya Birla Fashion, Alkem Laboratories, Astral, Antony Waste Handling Cell, Birla Corporation, CMS Info Systems, City Union Bank, and others.
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