Trade Setup for Monday 11 Sept 2023: Stock Market Today

September 11, 2023 admin

Trade Setup for Monday

Trade setup for Monday 11 Sept 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 mostly trading lower on Monday, as investors are looking ahead for key economic data from China later this week. Japan’s Nikkei is trading lower by 0.37 percent while South Korea’s Kospi is trading flat.

Australia’s C&P/ASX 200 is trading marginally lower by 0.19 percent. Hang Seng resumed trading after a long weekend, as the Hong Kong market was closed due to storm and flood on Friday. Hang Seng and Taiwan are also trading lower by 1.43 percent and 0.28 percent, while Straits Time is trading higher by 0.18 percent at 7.15 am IST.

Gift Nifty is trading slightly negative by 7 points or 0.04 percent and at 19931. The indication from the Asian markets is slightly negative today. Indian stock market indexes are likely to open positive and trade above their flatline.

U.S. Stock Market Indexes Update

The US stock markets indexes closed higher on Friday, the S&P 500 and Nasdaq snapped a 3-day losing streak, while Dow Jones gained for the second consecutive day on Friday. The US markets gained, as Apple and other tech and growth stocks witnessed some buying after the recent fall due to China’s ban on iPhones for government employees.

The market upside was capped, as there were renewed concerns about the future path of the Federal Reserve’s interest rates after economic data during the week. The grocery retailer Kroger gained about 3% despite mixed second-quarterly earnings, as the company said it would pay as much as $1.2 billion to settle most claims related to opioids.

Meanwhile, the satellite imagery stock Planet Labs fell more than 11% after the company reported weaker-than-expected quarterly results. The US stock market indexes Dow Jones and S&P 500 gained 0.22 percent and 0.14 percent respectively while Nasdaq was up by 0.09 percent on Friday.

European Stock Market Indexes Updates

European stock market indexes ended higher after a volatile session on Friday, snapping a seven-day longest losing streak since February 2018. The market sentiments became positive following the tentative gains from the US markets on Friday.

On the economic front, the official data showed that German inflation eased to 6.1% in August compared to July but remains at higher levels in the region, while Core inflation was unchanged. German Industrial production came lower than expected in July for the third consecutive month. The reading came to 0.8% less than the earlier month.

In France, the official data showed that the industrial output increased more than expected in July. The key European stock market indexes CAC and DAX gained 0.62 percent and 0.14 percent respectively, while the UK’s FTSE was up by 0.49 percent on Friday.

Indian Stock Market Indexes

Indian stock markets ended higher for the sixth straight session on Friday. The domestic market indexes traded above their neutral lines throughout the day amid weak global cues. The broader markets continued to outperform the benchmarks.

The market breadth was flat with the advance-decline indicating an almost equal ratio at the close. Foreign investors were net sellers while DIIs were the buyers in the Indian equity cash segments. FIIs sold shares worth Rs 224.24 crore while DIIs bought shares worth Rs 1150.15 crore on Friday.

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Nifty and Bank Nifty Prediction for Monday 11 Sept 2023

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