Trade Setup for Wednesday 29 June 2022: Market News
Trade setup for Wednesday– Good morning and welcome to the morning reports, the top things to know before the stock market opens today June 29, 2022
The Asian stock market indexes are trading in the red on Wednesday tracking negative cues from Wall Street overnight. Nikkei and Hang Seng are trading lower by 1.10 percent and 0.88 percent respectively while Shanghai is trading lower by 0.10 percent at 7.15 am IST. The SGX Nifty is trading lower by 149 points or 0.94 percent at 15704 levels.
The indications getting from the Asian markets are negative today. Indian stock market indexes are likely to open a gap-down, Nifty may open around15700 levels today.
European and the US stock market Indexes update
The US stock market indexes erased early gains and closed sharply lower on Tuesday for the second consecutive day, as investors digested the news that consumer confidence had hit a fresh 16-month low.
The US consumer confidence also declined for the second consecutive month as Americans continue to assess the impact of high prices and rising rates. The market indexes, Dow Jones and S&P 500 fell 1.56 percent and 2.08 percent respectively while Nasdaq was down by 2.98 percent on Tuesday.
The European stock market indexes closed higher on Tuesday as risk appetite improved after China eased its covid-19 restrictions for overseas visitors. Rising crude oil prices also provided an additional boost to the energy stocks on Tuesday. European market indexes FTSE and CAC gained 0.90 percent and 0.64 percent respectively while DAX was up by 0.35 percent on Tuesday.
Indian stock market updates
Indian stock markets opened lower but managed to close in the green amid volatility on Tuesday. The benchmark indexes, Sensex and Nifty ended slightly higher by 0.03 percent and 0.11 percent respectively. FIIs were the net sellers, they sold Rs 1244.44 crore while DIIs bought Rs 1205.63 crore in the equity cash segment on Tuesday.
Securities Delivery Report
| Delivery Report Eod 28-06-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | GMRINFRA | STAR |
| 2 | TORNTPHARM | TORNTPHARM |
| 3 | AXISBANK | AXISBANK |
| 4 | SBIN | BHARATFORG |
| 5 | VEDL | GRANUELS |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | IEX | IEX |
| 2 | ICICIGI | ICICIGI |
| 3 | TITAN | ASTRAL |
| 4 | ADANIPORTS | CHAMBELFERT |
| 5 | BERGEPAINT | ADANIPORTS |
News you should read before the trade setup for Wednesday 29 June 2022.
According to the Reserve Bank of India data showed on Tuesday, the growth in Scheduled Commercial Banks (SCBs) deposits moderated to 10 percent YoY in March 2022. This is as compared to an increase of 11.9 percent a year-ago period.
In another RBI report, the data showed that credit card spending in the month of May 2022 has crossed Rs 1.13 lakh crore compared to Rs 1.05 lakh crore in the previous month of this year. The rise in spending through credit cards indicates a pick-up in economic activity.
The RBI data showed that 7.68 crore credit card holders spent nearly Rs 71,429 crore for shopping online while the amount spent through swipes at Point of Sale (PoS) machine stood at Rs 42,266 crore in May
If you like the post “Trade Setup for Wednesday 29 June 2022: Market News, ” please share it.
You may also like to read, Nifty and Bank Nifty Prediction for Tomorrow 29 June 2022
What is SGX Nifty? Can Indian trade in SGX Nifty?
Happy Investing!!
Editor’s Desk
