Trade Setup for Wednesday, June 1, 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 1, 2022
Asian markets are mostly trading higher on Wednesday despite negative cues from the US markets overnight. Nikkei is trading higher by 0.69 percent while Hang Seng and Shanghai are trading flat at this moment at 7.25 am IST. The SGX Nifty is trading lower by 28 points or 0.17 percent at 16531 levels.
The indications getting from the Asian market are mixed, Indian stock market indexes are likely to open flat today. Nifty may open above 16500 levels today.
The US and European market Indexes update
The US markets finished lower on Tuesday as the key indexes failed to carry forward the last week’s momentum after returning from the long weekend. Investors fear that rising inflation both in the US and across the globe would slow down the economic growth after Eurozone inflation hit an all-time high for the seven consecutive months in May. The US market indexes, Dow Jones and S&P 500 declined 0.67 percent and 0.63 percent respectively while Nasdaq was down by 0.41 percent on Tuesday.
European market key indexes mostly closed lower on Tuesday after data showed inflation rose to a record high in May. Investors are now concerned about the pace and scale of looming interest rate hikes. European market indexes CAC and DAX closed lower by 1.43 percent and 1.29 percent respectively while FTSE closed marginally higher by 0.10 percent on Tuesday.
Indian stock market updates
Indian stock markets closed lower on Tuesday ahead of Q4 GDP numbers. The benchmark indices, Sensex and Nifty were down by 0.64 percent and 0.46 percent respectively. FIIs were the sellers and DIIs were the buyers in the equity cash segment. FIIs sold Rs 1003.56 crore while DIIs bought Rs 1845.15 crore in the cash segment on Tuesday.
Securities Delivery Report
| Delivery Report Eod 31-05-2022 | ||
| Rank | Top 5 Scrips ( Rise in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | HINDALCO | HDFCAMC |
| 2 | VEDL | TATACONSUM |
| 3 | PIIND | BHARTIARTL |
| 4 | NTPC | VEDL |
| 5 | BHARTIARTL | PIIND |
| Rank | Top 5 Scrips ( Fall in Price) | |
| Increase in DEL QTY | DEL Above 10DMA | |
| 1 | AUBANK | JINDALSTEL |
| 2 | ICICIPRULI | SUNPHARMA |
| 3 | JINDALSTEL | AUBANK |
| 4 | MARUTI | TITAN |
| 5 | MARICO | MARUTI |
Top News before the trade setup for Wednesday, June 1, 2022.
On a quarterly basis, RBI releases the housing price index based on transaction-level data received from housing registration authorities in mainly 10 major cities. In the March-end quarter of FY22, the Housing Price Index (HPI) rose by 1.8%, which is compared to 2.7 % recorded in the same period last year.
India’s GDP growth for the Q4FY22 was recorded at 4.1%, it was 5.4% in the previous quarter and estimation was 3.9% as per National Statistical Office (NSO) released the data on Tuesday. The GDP growth for FY22 has been pegged at 8.7% against a 6.6% contraction in the previous year. The expansion in gross value added (GVA) meanwhile has been pegged at 3.9% in YoY terms.
The country’s eight core sectors grew 8.4% in April at a faster rate than a revised 4.9% in March, according to the commerce ministry said on March 31. Output in six of the eight core sectors grew in April, these sectors were coal, electricity, refinery products, fertilizers, cement, and natural gas.
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