Trade Setup for Thursday 27 Oct: Stock Market News
Trade setup for Thursday 27 Oct– Good morning and welcome to the morning reports, the top things to know before the stock market opens today
Asian markets are trading mostly in the green on Thursday despite weak cues from Wall Street overnight. Nikkei is trading marginally lower by 0.06 percent while Hang Seng is trading higher by 2.89 percent as tech stocks led the gains. Shanghai is also trading positive by 0.42 percent on Thursday at 7.30 am IST.
SGX Nifty is trading higher by 89 points or 0.50 percent at 17902 levels. The indication getting from the SGX Nifty and other Asian market indexes is positive today. The Indian stock market indexes are likely to open a gap-up today after returning from a holiday.
The US and European market indexes update
The US stock market indexes closed lower on Wednesday as IT companies like Alphabet, and Microsoft disappoints their third quarterly earnings. At the close, the Dow Jones Industrial Average was almost flat, up by 0.01 percent whereas the S&P 500 was down 0.74 percent and the tech-heavy Nasdaq composite declined by 2.04 percent on Wednesday.
European stock market indexes advanced on Wednesday after a volatile session. Mining stocks led the gains while food and beverage stocks fell for the day. Corporate earnings were the key driver for the markets in Europe. Investors also remained cautious ahead of the European Central Bank interest rate decision which is due on Thursday.
At the close, the pan-Europe Stoxx 600 was up by 0.7 percent. The key European stock market indexes FTSE and CAC were up by 0.61 percent and 0.41 percent respectively while DAX jumped 1.09 percent on Wednesday.
Indian stock market updates
Indian stock was closed on Wednesday on account of Bhai Dooj. On Tuesday, the domestic markets closed lower and snapped a 7-day gaining streak. The equity benchmark indices, Sensex and Nifty were down by 0.48 percent and 0.42 percent respectively. The market breadth was quite strong with the advance decline indicating a ratio of 5:2 at the close. FIIs were the sellers, they sold Rs 247.1 crore worth of shares while DIIs bought Rs 872.88 crore in the Indian equity markets.
FY23 Second Quarterly Results Today
Indus Towers, Aditya Birla Sun Life AMC, SBI Cards and Payment Services, Lloyds Steels Industries, CE Info Systems, PC Jeweller, PNB Housing Finance, REC, Tata Chemicals, Anupam Rasayan India, Balaji Amines, Latent View Analytics, Supreme Petrochem, Tamilnad Mercantile Bank, Vaibhav Global and V-Guard Industries, etc will announce their 2nd quarterly earnings today
News you should read before the trade setup for today 27 Oct
On Wednesday, according to S&P Global Market Intelligence, the Asia-pacific region which produces 35% of the global GDP, is expected to dominate global economic growth in 2023. This is supported by regional free-trade agreements, efficient supply chains, and competitive costs. It further said Southeast Asia and India will benefit from trade diversification away from midland China.
The formal employment generation in India slowed down in August after remaining upbeat for the last four months across the EPFO, ESIC, and NPS. The provisional payroll data released by the ministry of statistics and program implementation on Tuesday shows net new subscriber addition under EPFO fell by 7.1 percent in August at 1.69 million compared to 1.82 million in July,
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