Trade setup for Thursday 27 April 2023– Good morning and welcome to the morning reports, the top things to know before the stock market opens today.
Asian stock market indexes are trading lower on Thursday following the mixed cues from Wall Street overnight and as the new Bank of Japan chief chairs a two-day monetary policy meeting on Thursday. South Korea’s Kospi is trading lower by 0.25 percent as the electronic giant Samsung reported a heavy drop in (YoY) operating profit in the first quarter.
The key Asian stock market indexes, Nikkei and Hang Seng are trading lower by 0.36 percent, and 0.18 percent respectively, while Shanghai is trading almost flat at 7.15 am IST. The SGX Nifty is trading lower by 34 points or 0.19 percent at 17795 levels.
The indication getting from the Asian markets is negative today. The Indian stock market indexes are likely to open flat to negative and would trade volatile ahead of April months F&O expiry.
U.S. Stock Market Indexes update
The US stock market indexes ended on a mixed note on Wednesday, Dow Jones fell as fresh banking turmoil hit investors’ sentiments, while Nasdaq gained due to the upbeat quarterly results from Microsoft and Alphabet. Facebook parent Meta Platforms also reported upbeat quarterly results after the market close on Wednesday.
Other than tech, Boeing Co., the aircraft maker also posted better-than-expected quarterly results and cheered investors. Energy stocks fell, as crude oil prices continue to decline due to ongoing fears of recession.
On the economic front, US mortgage markets saw a rebound last week, applications for home purchases grew, while orders for durable goods in the US were ahead of expectations in March. The key US stock market indexes Dow Jones and S&P 500 declined by 0.68 percent and 0.38 percent respectively while tech-heavy Nasdaq gained 0.47 percent on Wednesday.
European Stock Market Indexes Updates
European stock market indexes closed lower on Wednesday, as investors were concerned over the health of global banking sectors. Healthcare stocks fell sharply followed by industrial and households. European banking stocks narrowed losses, as Standard Chartered Bank posted better-than-expected quarterly earnings.
On the economic front, UK retail sales increased slightly in April according to the latest survey showed. Consumer confidence in Germany and France came better than expected in April.
The pan- European Stoxx 600 index closed 0.8 percent lower on Wednesday. The key European stock market indexes FTSE and DAX ended lower by 0.48 percent and 0.49 percent respectively while CAC was down by 0.87 percent.
Indian stock market updates
The Indian stock market indexes ended marginally higher on Wednesday. The domestic market sentiments turned positive in the afternoon session due to healthy quarterly earnings, however, the upside remains capped due to weak global cues.
The market breadth was positive today with an advance decline indicating a ratio of 3:2 at the close. Foreign investors turned buyers after seven trading sessions, they bought shares worth Rs 1257.48 crore while DIIs sold Rs 227.88 crore on Wednesday.
Q4 Results Today
Hindustan Unilever, Axis Bank, Wipro, Tech Mahindra, ACC, Bajaj Finserv, Aarti Surfactants, Indian Hotels, Laurus Labs, LTIMindtree, Motilal Oswal Financial Services, Aditya Birla Sun Life AMC, Chennai Petroleum Corporation, Coforge, Dwarikesh Sugar Industries, Gateway Distriparks, Glenmark Life Sciences, Mphasis, Shriram Finance, Tinplate Company of India, Trent, and Welspun India will announce their Q4 results on 27 April, Thursday.
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