Trade setup for Tuesday 22 March 2022- Top Market News
Trade setup for Tuesday- Good morning and welcome to the morning reports, the top things to know before the market opens today March 22, 2022
Asian markets are mostly trading in the green on Tuesday despite negative cues from Wall Street overnight. Nikkei and Hang Seng are trading higher by 1.67 percent and 0.80 percent respectively, while Shanghai is trading marginally higher by 0.08 percent. SGX Nifty is also trading marginally higher by 16 points or 0.09 percent at 17167 levels at 7.35 am IST. The cues getting from other Asian market peers is positive but SGX Nifty indicates the Indian markets are likely to open in a cautious mode.
The US and European market Indexes update
The US market indexes declined due to the rise in crude oil prices and fear of new Federal Reserve commentary. On Monday, Fed Chairman Jerome Powell comments that there is a possibility of an aggressive interest rate hike to tame inflation. The US market indexes, Dow and S&P 500 declined 0.58 percent and 0.04 percent respectively, while Nasdaq was down 0.40 percent on Monday.
European major indexes closed mixed on Monday. FTSE gained 0.51 percent due to a rise in energy share, the heavyweight’s BP and Shell, and solid gains in the mining sector supported the markets. While investors continued to monitor the Russia-Ukraine conflict and higher oil prices, which are surging again over fears of supply disruption. CAC and DAX declined 0.57 percent and 0.60 percent respectively on Monday
Indian stock market updates
Indian stock markets ended in the red on Monday amid mixed cues from the global markets. The benchmarked indices, Sensex and Nifty end at 0.99 percent and 0.98 percent respectively. FIIs were sellers and DIIs were the buyers, FIIs sold Rs 2962.12 crore while DIIs bought Rs 252.91 crore on Monday.
Top news and updates you should know before the trade setup for Tuesday, March 22, 2022
On Monday while addressing the CII National Council in the financing capital, The RBI governor Saktikanta Das has said will ensure that there is abundant liquidity in the market for the credit system to be active, for the credit system to function normally. This is Das’s first physical appearance since the pandemic broke out.
The RBI Governor on Monday said all Covid-19 related liquidity measures announced by the central bank, except the interest rates came with a sunset date’ Further, he said that the RBI will come out of the withdrawal of liquidity measures very smoothly and ensure abundant liquidity to meet the requirements of the productive sectors of the economy.
The major global market indexes fell on Monday due to a sharp rise in crude oil prices as there is uncertainty and slow progress in the diplomatic solution through peace talks between Russia and Ukraine. The Brent crude oil price for the May futures is trading above $118 per barrel on Tuesday morning.
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