Trade Setup for Friday 9 Dec: Stock Market News

 

Trade setup for Friday 9 Dec– Good morning and welcome to the morning reports, the top things to know before the stock market opens today

Asian stock market indexes are mostly trading in the green on Friday, following the positive cues from Wall Street overnight. The key Asian stock market indexes Nikkei and Hang Seng are trading higher by 1.22 percent and 0.49 percent respectively while Shanghai is trading lower by 0.23 percent. SGX Nifty is trading higher by 70 points or 0.38 percent at 18798 levels.

The indications getting from the Asian markets are positive, and Indian stock market indexes are likely to start higher today.

 

The US and European stock market indexes update

 

The US stock market indexes closed higher on Thursday with the S&P 500 breaking a 5-day losing streak after data showed a rise in weekly jobless claims, which interprets as a sign the pace of interest rate hikes could soon slow. Nine of the 11 major S&P 500 sectors rose, led by a 1.6% gain in technology stocks.

The key US benchmark indexes Dow Jones and S&P 500 gained 0.55 percent and 0.75 percent respectively while Nasdaq jumped 1.13 percent on Thursday.

European stock market indexes fell for the fifth straight session on Thursday, due to the weakness in banks and consumer staples amid growing fears of rescission. Most of the sectors closed in the red on Thursday, retail stocks closed lower by over 1 percent while mining stocks gained over one percent at the close.

The pan Europe STOXX 600 ended lower by 0.2 percent. The equity benchmark indices FTSE and CAC closed lower by 0.23 percent and 0.20 percent respectively while DAX gained 0.02 percent on Thursday

 

 

Indian stock market updates

 

Indian stock markets extended their early gains and closed near the day high on Thursday. The domestic markets gained despite the negative cues from the global markets. The market breadth was quite positive today with the advance decline indicating a ratio of 3:2 at the close. FIIs were the net sellers in the Indian equity cash segment, they sold Rs 1131.67 crore while DIIs bought Rs 772.29 crore on Thursday.

 

News you should read before the trade setup for today 9 Dec 

 

According to experts, India is estimated to have saved over Rs 35,000 crore by importing cheap Russian crude since February after Russia invaded Ukraine. Russia began diverting oil supplies from its traditional markets to Asian Countries after Europe — its largest market — after Europe imposed sanctions on Russia. In 2022, India and China have become the largest buyers of Russian oil, benefiting from the discounted oil supplied by Russia. Read the full article on Moneycontrol.com here

 

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