Trade Setup for Thursday 16 June 2022, Market News
Trade setup for Thursday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today June 16, 2022
Asian markets are trading higher on Thursday tracking positive cues from Wall Street overnight. Nikkei and Hang Seng are trading higher by 1.98 percent and 0.14 percent respectively while Shanghai is trading higher by 0.31 percent. The SGX Nifty is trading up by 146 points or 0.93 percent at 15817 levels at 7.10 am IST
The indication getting from the global markets is positive today, Indian stock markets are likely to open higher. Nifty may open higher above 15800 levels today.
The US and European market Indexes update
The US stock markets snapped their 5-day losing streak on Thursday and closed higher after Federal Reserve raised its interest rate by 0.75 bps as widely expected. Stocks gained and bonds rallied after the Fed’s announcement of the rate hike to curb inflation that is running at a 40-year high.
This is the largest interest rate hike in the last 28 years and the Fed has signaled it would continue lifting rates this year at the most rapid pace in decades to control inflation. The US stock market indexes Dow Jones and S&P 500 gained 1 percent and 1.46 percent respectively while Nasdaq was up by 2.50 percent on Thursday.
European markets snapped their six-day losing streak after the European Central Bank (ECB) called for an unscheduled meeting and announced measures to temper a bond market rout. ECB said to avoid debt crisis due to rising borrowing costs by supporting the high-debt member states and would devise a new tool to manage the risks.
However, the upside of the markets was capped due to the concerns about the Fed’s aggressive monetary policy outcome. European market indexes CAC and DAX gained 1.35 percent and 1.36 percent respectively while FTSE was up by 1.20 percent on Wednesday.
Indian stock market updates
Indian stock markets closed lower for the fourth straight session on Wednesday, as investors remained cautious ahead of the US Fed’s policy outcome. The benchmark indices, Sensex and Nifty fell by 0.29 percent and 0.25 percent respectively. FIIs were the sellers, they sold Rs 3531.15 crore while DIIs bought Rs 2588 crore in the equity cash segment on Wednesday.
Securities Delivery Report
| Delivery Report Eod 15-06-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | MUTHOOTFIN | PORNTPOWER |
| 2 | ALKEM | MGL |
| 3 | GUJGASLTD | GSPL |
| 4 | STAR | MUTHOOTFIN |
| 5 | MGL | ALKEM |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | TATACOMM | TATACOMM |
| 2 | TATACHEM | SUNTV |
| 3 | SUNTV | CUMMINSIND |
| 4 | MARICO | INDUSINDBK |
| 5 | CUMMINSIND | LAURUSLABS |
Top news you should read before the trade setup for Thursday 16 June 2022.
According to the CNBC-TV18 report, India’s net direct tax collection which includes income tax and corporate tax increased by around 53.2 percent to Rs 2.58 lakh crores from April 1 to June 14. This is as against Rs 1.86 lakh crore reported in the same period in the previous year. This is due to the sustained economic recovery despite the surge in inflation and disruption caused by geopolitical tension.
The crude oil prices slipped on Wednesday ahead of the US Fed’s aggressive interest rate decision on the back of concern over fuel demand and global economic growth. The Crude Oil prices closed below $119 per barrel on Wednesday. The Brent crude oil August futures is trading at $119.89 per barrel on Thursday early morning.
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