Trade Setup for Monday 3 April: Stock Market News

April 3, 2023 admin

Trade setup for Monday 3 April 2023– Good morning and welcome to the morning reports, the top things to know before the stock market opens today

Asian stock markets are trading higher on Monday following the gains from Wall Street on Friday. The oil prices surged as much as 8% in the early morning on Monday, after OPEC+ members decided to cut more than 1 million barrels of production per day. Investors are looking ahead to the manufacturing PMI data in the region.

The key Asian stock market indexes, Nikkei, Hang Seng, and Shanghai are trading higher by 0.58 percent, 0.09 percent, and 0.30 percent respectively. SGX Nifty is also trading higher by 28 points 0.16 percent at 17445 levels.

The indication getting from the Asian stock markets is positive. The Indian stock markets will open in the green and trade positively today.

U.S. and European stock market indexes update

The US stock markets advanced on the last day of the week. The market sentiments were positive as the core personal consumption expenditures price index, slowed in February. This has raised hopes that the Federal Reserve could pause the interest rate hikes soon.

The US 10-year-old Treasury yield fell slightly to 3.51 percent on Friday. The key US stock market indexes, Dow Jones and S&P 500 gained 1.26 percent and 1.44 percent respectively while Nasdaq gained 1.74 percent on 31st March

European stock markets closed higher on Friday. The pan-European Stoxx 600 index logged gains of around 0.66 % on the final day of the month. The sentiments were upbeat as Eurozone retail inflation slowed to 6.9% in March from 8.5% in February due to falling in energy prices. Whereas core inflation, excluding energy and food uptick from 5.6% to 5.7%.

Earlier, the morning data showed a drop in German retail sales, while the UK economy recorded 0.1% growth in the fourth quarter of 2022, revised up from an earlier estimate of zero growth. The European stock market indexes CAC and DAX gained 0.81 percent and 0.68 percent respectively while FTSE was up by 0.15 percent on Friday.

Indian stock market updates

Indian stock market ended with solid gains on Friday. The equity benchmarks opened a gap-up on the last trading session of the FY23 session and extended as the session progressed. The market breadth was very strong with the advance decline indicating a ratio of 3:1 at the closed. Both FIIs and DIIs were the net buyers, FIIs bought shares worth Rs 357.86 crore while DIIs invested Rs 2479.96 crore on the last day of the week.

News you should read before the trade setup for today 3 April

The RBI data showed during the weekend that India’s foreign exchange reserve rose by $5.98 billion to $578.78 billion as on 24 March 2023. India’s current account deficit declined to USD 18.2 billion, or 2.2% of GDP in the third quarter of FY23, as the data showed by RBI after the market hours on Friday.

The data released on Saturday showed that India’s monthly goods and services tax (GST) collections hit the second highest ever in March, rising 13% as compared to the same period last year to `1.6 lakh crore, suggesting economic strength despite several global turmoils. The total gross GST collection for FY23 was Rs 18.10 lakh crore, an average of Rs 1.51 lakh a month and up 22% from FY22.

According to the data released by the Centre for Monitoring Indian Economy (CMIE), the country’s unemployment rose to a three-month high in March to 7.8 percent as the country’s labor markets deteriorated, Unemployment rate in the country surged in December 2022 to 8.30 percent but again declined in January to 7.14 percent. It edged up again in February to 7.45 percent, the latest CMIE data showed on Saturday.

If you like the post ” Trade Setup for Monday 3 April: Stock Market News” please share it with others

Nifty and Bank Nifty Prediction for Monday 3 April 2023

Happy Investing!!

Editor’s Desk