Trade Setup for Tuesday 9 May: Stock Market Today

 

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

Asian stock markets are trading mixed on Tuesday as investors are awaiting China’s April trade data and the US inflation data later this week. Nikkei and Shanghai indexes are trading higher by 0.59 percent and 0.18 percent respectively, while Hang Seng and Kospi are trading lower by 0.32 percent and 0.38 percent respectively. 

SGX Nifty is also trading slightly lower by 32 points or 0.18 percent at 18317 levels at 7.15 am IST. The indication getting from the Asian markets is mixed. The Indian stock markets are likely to open flat and trade in a range-bound session.

 

U.S. Stock Market Indexes update

 

The US stock market indexes closed mixed on Monday amid a rang-bound session as investors are now looking ahead for crucial inflation data which is due later this week. Dow Jones closed in the red, down by 0.17 percent as the regional Bank’s shares gave up early gains and closed with little changes. 

The share price of PacWest Bancorp opened as much as 30 percent higher on Monday on dividend cut news but later pared all most all gains. The big tech stocks including Meta, and Alphabet ended higher on Monday. The key US stock market indexes S&P 500 and Nasdaq closed higher by 0.05 percent and 0.18 percent respectively.

 

European Stock Market Indexes Updates

 

European stock market indexes closed with little changes on Monday. FTSE was not trading on Monday due to a holiday. CAC and DAX closed mixed, CAC gained 0.11 percent while DAX was down by 0.05 percent on Monday.

In Germany, gains in the  Food and Beverages, Insurance, and Software sectors led the gains while Construction, Retail, and Media sectors ended lower. In France, CAC ended higher as Oil & Gas, Financial and Healthcare sectors closed higher on Monday.

 

Indian stock market updates

 

Indian stock market indexes closed higher on Monday amid positive global cues. Sensex and Nifty made a sharp rally and closed above their psychological level. Almost all sectors barring PSU Bank and media were closed in the green on Monday.

The market breadth was quite positive with the advance decline indicating a ratio of 2:1 at the close. FIIs and DIIs both were net buyers in the equity cash segment. FIIs bought shares worth Rs 2123.76 crore while DIIs bought Rs 245.27 crore on Monday.

 

Q4 Results Today

 

Lupin, Raymond, Reliance Infrastructure, Apollo Tyres, Birla Corporation, Castrol India, Godrej Agrovet, Hatsun Agro Product, Indraprastha Gas, JM Financial, KSB, Latent View Analytics, Matrimony.com, Chalet Hotels, Eveready Industries India, Nazara Technologies, Nuvoco Vistas Corporation, Rain Industries, Shipping Corporation of India, SRF, Suven Life Sciences, and Westlife Foodworld will announce their quarterly earnings on 9 May 2023

 

If you like the post “Trade Setup for Tuesday 9 May: Stock Market Today” please share it with others

 

You may also like to read,  Stock Market Prediction Next Week (8- 12 May 2023)

                                         Nifty and Bank Nifty Prediction for Tomorrow 9 May 2023

 

Happy Investing!!

Editor’s Desk