Trade Setup for Thursday 25 August 2022: Stock 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 August 25, 2022
The Asian stock market indexes are trading in the green on Thursday tracking positive cues from the US markets overnight. Nikkei and Shanghai are trading higher by 0.62 percent and 0.46 percent respectively. Honk Kong stock exchange has delayed opening on Thursday as a Typhoon rage through the city.
The SGX Nifty is trading higher by 72 points or 0.41 percent at 17688 levels. The indication getting from the Asian markets is positive today. Indian stock market indexes are likely to open higher today. Nifty may open near 17700 levels today.
The US and European market indexes update
The US stock market indexes ended higher on Wednesday, lifted by gains in energy stocks, now all eyes are on the Jackson Hole event. The markets snapped a three-day losing streak, as investors were worried about the interest rate decisions in the next Fed meeting.
The tech-heavy Nasdaq gained 0.41 percent as Intuit Inc rallied almost 4 percent after the company forecasted upbeat fiscal revenue for 2023. Dow Jones and S&P 500 also gained 0.18 percent and 0.29 percent respectively on Wednesday.
European stock market indexes closed mixed on Wednesday, as investors looked to the US fed’s Jackson Hole symposium and Fed Chairman Powell’s speech on Friday. European stock market indexes, CAC and DAX closed higher by 0.39 percent and 0.20 percent respectively while FTSE closed lower by 0.22 percent on Wednesday.
Indian stock market updates
Indian stock markets erased early losses and closed slightly higher on Wednesday amid weak global cues. The domestic markets were traded volatile ahead of the monthly F&O expiry. The benchmark indices, Sensex and Nifty gained 0.09 percent and 0.16 percent respectively. FIIs were the net buyers, they bought Rs 23.19 crore worth of shares in the Indian equity markets, while DIIs sold Rs 322.34 crores worth of shares on Wednesday.
News you should read before the trade setup for Thursday 25 August 2022.
According to the latest ASSOCHAM-D&B Small Business Confidence Index, as many as 80 percent of the small and medium enterprises (SMEs) anticipated an increase in their domestic order book in the third quarter of the calendar year. The sequential improvement of 5% from the previous quarter, leading to rising in the sales revenue is due to the pick-up in demand.
The oil prices continue to rise after Sudi Arabia suggested that OPEC+ could consider cutting output due to poor liquidity in the crude futures market and fears about a global economic slowdown. The Brent crude oil October futures closed above $101 per barrel on Wednesday and are trading higher by 0.25 percent on Thursday early morning.
States’ revenue growth will decline to 7-9 percent in the current fiscal even as handsome GST collection will help in the accretion, a report said on Wednesday. The revenue growth had galloped 25 percent in FY22 due to a lower base effect in the pandemic FY21, the report by rating agency Crisil.
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