Trade Setup Unveiled: Stock Market News & Updates for Monday, Sept 25, 2023

 

Trade Setup for Monday

 

Trade setup for Monday, Sept 25, 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 trading mixed on Monday, as investors are looking ahead to the key economic data across the region this week. Singapore and Australia will release inflation readings for August this week, while Tokyo CPI inflation and China’s Industrial profit are also scheduled later this week.

Japan’s Nikkei is trading higher by 0.67 percent while South Korea’s Kospi and Australia S&P/ASX 200 are trading lower by 0.34 percent and 0.32 percent respectively. Shanghai and Hang Seng are trading lower after Friday’s rally, indexes are down by 0.28 percent and 1.14 percent respectively. Elsewhere, Straits Times and Taiwan are trading higher at 7.10 am IST.

Gift Nifty is trading higher by 52 points or 0.27 percent at 19695 levels. The Asian stock market cues are mixed today. Indication from Gift Nifty is positive, Indian stock market indexes are likely to open in the green and trade near their flat line.

 

U.S. Stock Market Indexes Update

 

The US stock market indexes pared all intraday gains and ended in the red for the fourth consecutive day on Friday. The Fed’s hawkish stance and strong weekly job reports pushed the Treasury yields to a multiyear high on Friday. The auto union United Auto Workers (UAW) expanded strikes to 38 new locations across 20 states and the possibility of a US government shutdown also hit market sentiments.

On the economic front, the S&P Global flash PMI data showed that the US Manufacturing PMI index came slightly better than expected in September, but still remained below 50-mark. Meanwhile, the Services PMI index reading was just above the 50-mark but came slightly lower than expected.

The key US stock market indexes, Dow Jones and S&P 500 declined 0.31 percent and 0.23 percent respectively, while the technology-heavy Nasdaq was down by 0.09 percent on Friday.

 

European Stock Market Indexes Updates

 

European stock market indexes mostly ended in the red on Friday, as hawkish comments from the central banks fear higher interest rates for a long period. The flash HCOB Eurozone Composite PMI index came slightly higher in September as against the previous month but still under 50-mark.

In the UK, the S&P Global/CIPS flash Composite PMI fell in September compared to the previous month, while the retail sales rebounded in August compared to July, on the back of strong sales in food and clothing. 

The pan-European Stoxx 600 index fell 0.31 percent on Friday. The key stock market indexes CAC and DAX declined 0.40 percent and 0.09 percent respectively while the UK’s FTSE was slightly up by 0.07 percent on Friday.

 

Indian Stock Market Indexes

 

Indian stock markets could not hold the intraday gains and ended lower for the fourth straight day on Friday. The domestic market sentiments were dampened amid weak global cues, as the US stock markets dragged on Thursday due to higher Treasury yields after the strong labor market report.

The market breadth was negative with the advance-decline indicating a ratio of 3:4 at the close. FIIs were the net sellers in the Indian equity cash segments, they offloaded shares worth Rs 1326.74 crore while DIIs were the net buyers, they bought shares worth Rs 801.27 crore.

 

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News Ahead of  Trade Setup for Today, Sept 25, 2023

 

The Asian Development Bank (ADB) has trimmed its GDP forecast for India for the current fiscal year 2023-24 by 10 bps. It reduces a tick lower from 6.4 percent to 6.3 percent. The downward revision is due to a slowdown in exports and the impact of erratic monsoon. However, the GDP forecast for the next fiscal 2024-25 remains unchanged at 6.7 percent.

 

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Nifty and Bank Nifty Prediction for Monday 25 Sept  2023

 

Happy Investing!!

Editor’s Desk