Trade Setup for Monday 25 July 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 July 25, 2022
Asian markets are mostly trading in the red on Monday tracking the negative cues from Wall Street on Friday. Nikkei and Hang Seng are trading lower by 0.85 percent and 0.71 percent respectively while Shanghai is trading negatively, down 0.38 percent. The SGX Nifty is trading lower by 59 points or 0.36 percent at 16665 levels at 7.20 am IST
The global market cues are slightly negative today, and Indian stock markets are likely to open in the red. Nifty may open around 16650 levels today
The US and European market indexes update
The US stock market indexes snapped a three-day winning streak and closed lower on Friday after surprisingly weak quarterly results announced by a couple of social media companies. Investors preferred to book profit ahead of Fed’s policy meeting outcome due in the coming week.
The US market indexes, Dow Jones and S&P 500 fell 0.43 percent and 0.93 percent respectively while Nasdaq was down by 1.87 percent on the last day of the week.
European markets closed marginally higher on Friday, as Russia and Ukraine have signed a three-month deal to resume grain exports from three Ukrainian ports. However, the upside remained capped as a survey indicates a possible contraction in the eurozone economy in July.
European market indexes, FTSE and DAX gained 0.08 percent and 0.05 percent respectively while CAC was up by 0.25 percent on Friday.
Indian stock market updates
Indian stock market indexes gained on Friday with the support of positive global cues. Buying was witnessed in Banking, Financial, and FMCG on the last day of the week. The market breadth was strong, with the “advance-decline” indicating a ratio of 3:2 at the close. FIIs were sellers, after buying for four consecutive days, they sold Rs 675.45 crore while DIIs bought Rs 739.38 crore in the equity cash segment on Friday.
Today’s Q1 Earnings
Axis Bank, Tata Steel, Tech Mahindra, Canara Bank, Macrotech Developers, KPIT Technologies, Craftsman Automation, GlaxoSmithKline Pharmaceuticals, Aether Industries, Anupam Rasayan India, Aurionpro Solutions, Central Bank of India, Century Textiles & Industries, Chennai Petroleum Corporation, Indian Energy Exchange, IIFL Wealth Management, Jindal Stainless, Jyothy Labs, etc will announce their Q1 results today.
Top news you should read before the trade setup for Monday 25 July 2022.
According to the RBI data showed on Friday, India’s foreign exchange reserves fell by $7.541 billion to $572.712 billion in the week ended 15 July. This is because the RBI continued to intervene in the market to restrict the fall of the Indian currency. In the prior week ended July 8, the reserves shrunk by $8,062 billion to $580.252 billion.
The country’s crude oil imports in Q1FY23 increased 17% on year to 60.2 million tonnes (MT) as refineries stepped up processing to meet higher domestic demand for petroleum products including diesel. Exports of petroleum products also rose by 7.2% during the period.
In terms of value, the import amount was higher by 89% in Q1FY23 to $47.5 billion per year and this is mainly due to higher crude prices. Indian imports 85% of its crude needs, in FY22, India’s crude oil import was 212MT valued at $120.4 billion.
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