Trade Setup for Tuesday 24 May 2022: Stock Market News
Trade setup for Tuesday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today May 24, 2022
Asian markets are mostly trading in the red on Tuesday, despite positive cues from Wall Street overnight. Nikkei is trading lower by 0.40 percent whereas Hang Seng and Shanghai are trading lower by 0.30 percent and 0.36 percent respectively at 7.30 am IST. The SGX Nifty is trading higher by 55 points or 0.34 percent at 16231 levels.
The Asian market cues are negative today but SGX Nifty is trading a positive. Indian stock markets are likely to open in the green today. Nifty may open around 16200 levels.
The US and European market Indexes update
The US markets were advanced on Monday after Friday’s volatile session, as investors bet on beaten-down stocks. It was a broad-based rally led by the Banking and Technology sectors. Investors feel that raising interest rates could boost the banks lending business. The US market indexes, Dow Jones and S&P 500 gained 1.98 percent and 1.86 percent respectively while Nasdaq was up by 1.59 percent on Monday
European market indexes started the week on a positive note following the highly volatile trading sessions seen over the preceding week. The optimism regarding the Covid19 situation in China and hawkish comments from the ECB boosted basic resources and banks respectively. The European market indexes FTSE and DAX gained 1.67 percent and 1.38 percent respectively while CAC was up by 1.17 percent on Monday.
Indian stock market updates
Indian stock markets gave up all intraday gains on Monday and closed marginally lower. The benchmark indexes, Sensex and Nifty were down by 0.07 percent and 0.32 percent respectively. FIIs were the sellers and DIIs were the buyers in the equity cash segment. FIIs sold Rs 1951.17 crore while DIIs bought Rs 1445.39 crore in the cash segment on Monday.
Securities Delivery Report
| Delivery Report Eod 23-05-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | LT | ASHOKLEY |
| 2 | BHARATFORG | HAL |
| 3 | SRTRANSFIN | METROPOLIS |
| 4 | INDIGO | ZYDUSLIFE |
| 5 | TVSMOTOR | LALPATHLAB |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | TATASTEEL | NMDC |
| 2 | NMDC | SAIL |
| 3 | JINDALSTEL | JINDALSTEL |
| 4 | SAIL | TATASTEEL |
| 5 | AMARAJABAT | |
Q4 Results for Today
Adani Ports, Grasim, Apollo Finvest, Asian Granito, Aster DM Heath, Balkrishna, Bank Of India, Balrampur Chini, Birla Cable, Emkay Global, Gabriel India, Emami Realty, Guj Alkali, Ipca Labs, JM Financials, Jyothy Labs, and others
Top News- before the trade setup for Tuesday, May 24, 2022.
On Monday the ICRA Ratings said that the Indian economic growth may have slowed to 3.5 percent in the Q4 of 2021-22 from 5.4 percent in the previous quarter due to the impact of higher commodity prices on margins, the decline in wheat yields, and on a higher base.
The rating agency has further said the hiccups in the recovery of the contact-intensive services attributable to the third wave of Covid-19 in the country may also have affected the economic growth during the quarter. The fourth-quarter GDP numbers will be announced by the National Statistical Office (NSO) on 31st May.
The Indian government will spend an additional Rs 2 lakh crore ($26 billion) in the 2022/23 fiscal year to cushion consumers from rising prices and fight 8-year high inflation, as per the government officials told Reuters.
If you like the post “Trade Setup for Tuesday 24 May 2022: Stock Market News, ” please share it.
You may also like to read, Nifty and Bank Nifty Prediction for Tomorrow 24 May 2022
Stock Market Prediction Next Week ( 23 to 27 May 2022)
Happy Investing!!
Editor’s Desk
