Trade Setup for Monday 1 August 2022: Stock Market News
Trade setup for Monday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today August 1, 2022
Asian stock markets started mixed on Monday as China’s economic data disappointed. The latest data showed that the manufacturing activity in China contracted in July, below market expectations. Nikkei is trading higher by 0.28 percent while Hang Seng and Shanghai are trading lower by 0.95 percent and 0.68 percent respectively. The SGX Nifty is trading higher by 40 points or 0.23 percent at 17271 levels.
The indication getting from the SGX Nifty is positive, Indian stock market indexes are likely to open in the green today. Nifty may open above 17250 levels today.
The US and European market indexes update
The US stock market indexes advanced on Friday on the back of buying in oil & gas, consumer services, and basic materials stocks. The market sentiments were upbeat as investors are in hope that Fed could slow down or stop the interest rate hike in the next meeting due to the contraction in GDP numbers for the second quarter.
The quarterly earnings also boosted the market sentiments on Friday. The US stock market indexes Dow Jones and S&P 500 gained 0.97 percent and 1.42 percent respectively while Nasdaq jumped 1.88 percent on Friday.
European stock market indexes gained on Friday due to optimistic earnings and better-than-expected GDP growth for the second quarter. However, the upside of the market was capped, as the latest survey showed that eurozone inflation rose for the month of July.
European market indexes, CAC and DAX gained 1.72 percent and 1.52 percent respectively while FTSE was up by 1.06 percent on the last day of the week.
Indian stock market updates
Indian stock markets closed higher for the third consecutive day on Friday. The Sensex and Nifty gained 1.25 percent and 1.35 percent respectively. The market breadth was quite strong on the last day of the week, as the advance-decline indicated a ratio of 5:2 at the close. FIIs bought Rs 1046.32 crore in the equity cash segment while DIIs sold only 0.91 crores on Friday.
Today’s Q1 Earnings
ITC, UPL, Zomato, Arvind, Bajaj Consumer Care, Barbeque-Nation Hospitality, Prudent Corporate Advisory Services, Punjab & Sind Bank, The Ramco Cements, Carborundum Universal, Castrol India, Escorts Kubota, Eveready Industries India, Indo Count Industries, Kansai Nerolac Paints, Max Financial Services, RateGain Travel Technologies, Thyrocare Technologies, etc will announce their quarterly earnings today.
News you should read before the trade setup for Monday 1 August 2022.
The year-on-year retail inflation for the industrial workers came down to 6.16 percent in June from 6.97 percent in May 2022. This is due to lower food and fuel prices according to the labor ministry statement on Saturday
India’s eight code sectors’ output growth slowed to 12.7 percent in June from 18.1 percent in May, with all sectors except crude oil registering an uptick in production. The index of eight core was up by 8 percent in June 2022 as against the pre-covid levels of June 2019, indicating a recovery in infrastructure sectors and a pickup in economic growth.
As per the RBI data showed on Friday, the country’s foreign exchange reserves fell another $1.152 billion for the week ended July 22. The reserves have been declining due to volatility in the Indian rupee, which has also depreciated against the US dollar. In the previous week, the reserves had declined by $7.541 billion to $572.712 billion.
If you like the post “Trade Setup for Monday 1 August 2022: Stock Market News, ” please share it.
You may also like to read, Stock Market Prediction Next Week (1- 5 August 2022)
Nifty and Bank Nifty Prediction for Monday 1 August 2022
Happy Investing!!
Editor’s Desk
