Trade setup for Wednesday 30 March 2022- Morning report
Trade setup for Wednesday– Good morning and welcome to the morning reports, the top things to know before the market opens today March 30, 2022
Asian markets are mostly trading higher on Wednesday following the positive cues from the US markets overnight. Nikkei is trading lower by 1.19 percent while Hang Seng and Shanghai are trading higher by 1.27 percent and 0.74 percent respectively. SGX Nifty is trading higher by 156 points or 0.90 percent at 17534 levels.
The decline in oil prices and the Russia-Ukraine peace talk progress are positive for the Indian stock markets. The indication getting from the Asain markets is positive, Indian stock market indexes are likely to open gap-up today.
The US and European market Indexes update
The US market indexes closed higher on Tuesday due to the decline in oil prices and the release of some positive economic data. Investors were hopeful for a diplomatic solution after some potential progress in talks between Russia and Ukraine. The US market indexes, Dow Jones and S&P 500 gained 0.97 percent and 1.23 percent respectively while Nasdaq was up by 1.84 percent on Tuesday.
European markets closed higher on Tuesday taking positive cues from Asian markets and Wall Street. The peace talks between Russia and Ukraine yielded the most tangible sign after the news that Moscow had pledged to significantly reduce its military activities around the Ukrainian cities of Kyiv and Chernihiv.
European market indexes, FTSE gained 0.86 percent while CAC and DAX were closed higher by 3.08 percent and 2.79 percent respectively on Tuesday.
Indian stock market updates
Indian stock markets traded strongly on Tuesday with the support of positive global cues. The benchmark indices Sensex and Nifty advanced 0.61 percent and 0.60 percent respectively. FIIs and DIIs both were buyers in the cash segments. FIIs bought Rs 35.47 crore while DIIs bought Rs 1713.31 crore in the cash segment on Tuesday.
Top news and updates you should know before the trade setup for Wednesday, March 30, 2022.
India is targeting $1 trillion in goods exports by 2030, according to the Minister of Commerce & Industry Piyush Goyal said. He is also expecting a larger share of the UAE market in the years to come to achieve the export target.
On Tuesday, Finance Minister Nirmala Sitharaman said FDI into the country during the Modi government was $500.5 billion, which is 65 percent more than the amount received in the 10 years of the UPA government, as investors have trusted the economic management of the current government. The FDI inflow recorded in 2020-21 was $81.72 billion as compared to $74.9 billion in the preceding financial year.
On Tuesday, Finance Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha that India’s sharp economic recovery post-Covid-19 and Budget initiatives will help in sustaining growth momentum in the years to come.
The government’s road map for imparting momentum to the economy focuses on growth at the macro levels and complementing it with all-inclusive welfare at the micro-level, promoting digital economy and fintech, technology-enabled development, energy transition, and climate action, and rely on the various cycle of investment.
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