Trade Setup for Thursday 9 Feb: Stock Market News

 

Trade setup for Thursday 9 Feb 2023– Good morning and welcome to the morning reports, the top things to know before the stock market opens today

Asian stock market indexes are trading mixed on Thursday tracking the negative cues from Wall Street overnight. Japan’s Nikkei is trading lower by 0.43 percent while Hang Seng and Shanghai are trading higher by 0.44 percent and 0.51 percent respectively at 7.20 am IST. The SGX Nifty is trading flat to positive at this moment, up by 2 points at 17892 levels.

The indication getting from the Asian markets are mixed. The Indian stock market indexes are likely to open on flat notes today and may trade sideways.

 

U.S. and European stock market indexes update

 

The US stock markets closed lower on Wednesday reversing their prior session rally after the Fed officials made hawkish remarks about more interest rate hikes to curb inflation. The technology shares led the losses after Alphabet (Google parent) dragged due to inaccurate answers delivered by its new artificial intelligence chatbot ‘Bard at the promotional event.

The key US stock market indexes, Dow Jones and S&P 500 declined by 0.61 percent and 1.11 percent respectively while Nasdaq was down by 1.68 percent at the close on Wednesday.

European stock market indexes closed higher on Wednesday, as investors digested the latest comments from US Fed Chairman Jerome Powel and mixed corporate earnings.  The pan-Europe’s Stoxx 600 closed higher by 0.03% on Wednesday,

European stock market indexes FTSE and DAX gained 0.25 percent and 0.60 percent while France’s CAC was down by 0.20 percent. Among the sectors, the Energy sector gained 1.6 percent while Construction fell 2.25 percent 

 

Indian stock market updates

 

Indian stock markets rallied on Wednesday after the RBI policy outcome. The market sentiments were strong due to positive global cues, RBI policy outcome as widely expected, and a rally in Adani group stocks. The market breadth was strong with the advance-decline indicating a ratio of 3:2 at the close.

FIIs were the net sellers in the Indian equity market, they offloaded Rs 736.82 crore worth of shares while DIIs bought Rs 941.16 crore on Wednesday. 

 

Q3 Results Today

 

Hindalco Industries, Hindustan Petroleum Corporation, Life Insurance Corporation of India, Lupin, Zomato, Greaves Cotton, Hindustan Aeronautics, Indian Railway Catering and Tourism Corporation, Jet Airways, Kalpataru Power Transmission, MRF, Natco Pharma, Page Industries, Pfizer, Adani Total Gas, Aurobindo Pharma, Bajaj Consumer Care, Bombay Dyeing & Manufacturing Company, Devyani International, Force Motors, General Insurance Corporation of India, Sapphire Foods India, Suzlon Energy, United Breweries, Ujjivan Financial Services, and Voltas will announce their third-quarter results on 9 Feb

 

News you should read before the trade setup for today 9 Feb

 

The RBI’s latest round of surveys conducted in January showed that India’s household inflation expectations for the current period declined by 20 bps to 9.6%, while consumer confidence improved further. While the country’s annual retail inflation rate eased to 5.72% in Dec from 5.88% recorded in the previous month, falling below the RBI’s upper tolerance band of

 

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Happy Investing!!

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