Trade Setup for Wednesday 14 Dec: Stock Market News
Trade setup for Wednesday 14 Dec– Good morning and welcome to the morning reports, the top things to know before the stock market opens today
Asian stock market indexes are mostly trading higher on Wednesday, following the positive cues from the US markets overnight. The key Asian stock market indexes Nikkei and Hang Seng are trading higher by 0.74 percent, and 0.76 percent respectively, while Shanghai pared early gains and currently trading lower by 0.14 percent. SGX Nifty is trading higher by 94 points or 0.50 percent at 18795 levels.
The indication getting from the Asian markets as of now ( 7.15 am IST) is positive. The Indian stock market indexes are likely to open higher today.
The US and European market indexes update
The US stock market indexes pared most of their early gains on Tuesday but closed higher. Investors cheered after the latest data showed easing inflation pressure for the second straight month just a day ahead of the Fed policy meeting.
Tech shares led the gains on Tuesday, Meta surged more than 4% after Goldman Sachs flagged the social media giant as a “top pick”, Alphabet, Apple, and Microsoft also registered gains by 1-2 percent on Tuesday. The key US indexes, Dow Jones and S&P 500 gained 0.30 percent and 0.73 percent respectively while Nasdaq jumped 1.01 percent on Tuesday.
European market indexes rallied on Tuesday as U.S. inflation figures came in lower than expected. Almost all major sectors climbed on Tuesday, and the gains were led by the Technology sectors. The British pound and euro both around 1% against the dollar on Tuesday.
The pan- Stoxx 600 closed more than 1 percent higher. The key indices CAC and DAX gained 1.42 percent and 1.32 percent respectively while FTSE was up by 0.76 percent on Tuesday.
Indian stock market updates
Indian stock market indexes closed higher amid positive cues from the global markets and cooler-than-expected retail inflation data. Some cautiousness was seen in the markets ahead of the US inflation data. The market breadth was positive with the advance-decline indicating a ratio of 4:3 at the close. FIIs and DIIs were the net buyers in the equity cash segment. FIIs bought Rs 619.92 crore while DIIs bought Rs 36.75 crore worth of shares in the equity cash segment on Tuesday.
News you should read before the trade setup for today 14 Dec
The US Stocks surged and bond yields fell after fresh data showed inflation eased in November. Data showed consumer-price gains slowed to 7.1% in November from a year earlier, and from 7.7% reported in October 2022.
Economists surveyed by The Wall Street Journal had estimated 7.3% for CPI-based inflation and 6.1% for core prices.
HDFC and HDFC Bank will remain focused today as on 13 December, the Indian stock exchanges BSE and NSE have given in-principal approval to its merger.
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