Trade setup for Tuesday 25 July 2023– Good morning and welcome to the morning reports, the top things to know before the stock market opens and ahead of Trade Setup today.
Asian Stock Markets
Asian stock market indexes are trading mixed on Tuesday, as China’s Politburo pledged to support and optimize the policies for its weak property sector. China’s decision-making body has also pledged to increase employment in the country to boost consumption and handle debt risk.
Shanghai and Hang Seng are trading higher by 1.37 percent and 2.71 percent respectively. Kospi erased intraday losses and turned positive while Nikkei is trading lower by 0.25 percent at 7.20 am IST
Gift Nifty is trading lower by 20 points or 0.10 percent at 19718 levels. The indication getting from the Asian markets is mixed today. The Indian stock market indexes are likely to open positive and trade above their neutral lines.
U.S. Stock Market Indexes update
The US stock markets started the week on a positive note, Dow extended its gains for the 11th consecutive session, its longest winning streak in 6 years. The rally in energy stocks due to better-than-expected quarterly earnings and a rise in oil prices supported Dow on Monday.
Regional bank’s rally also supported the financial sectors, PacWest Bancorp gained more than 8 percent ahead of quarterly earnings due on Tuesday. The big tech stocks Alphabet and Microsoft gained ahead of the quarterly earnings on Tuesday. The recently beaten-down stock Tesla and Netflix ended higher and supported the Nasdaq index to close with a decent gain.
However, the upside remains capped as the PMI survey flash data showed that private sector production slowed further in the month of July. Some cautiousness was also there in the markets ahead of the Fed interest rate decision, which is due on Wednesday.
The US stock market indexes, Dow and S&P 500 gained 0.52 percent and 0.40 percent respectively while Nasdaq was up by 0.19 percent on Monday.
European Stock Market Indexes Updates
European stock markets closed with little change on Monday ahead of the crucial events later this week. Fresh data released on Monday showed a slowdown in business activity in France, Germany, and UK in July, which fears a recession risk in Europe. Meanwhile, Spanish election results showed no clear majority for either of the two main parties.
The pan-European Stoxx 600 index gained 0.10 percent, rising higher for the fifth consecutive session. Oil & Gas stocks advanced, as oil prices rises while media, tech, and household goods stocks fell during the day.
The European stock market index, CAC closed slightly lower by 0.07 percent while DAX gained marginally higher by 0.08 percent. The UK’s FTSE was up by 0.19 percent on Monday.
Indian Stock Market Indexes
Indian stock market indexes closed lower for the second consecutive day on Monday. The equity benchmarks ended near the day’s low on account of selling in heavyweights like ITC, Reliance, and Kotak. The global cues were weak, as investors were cautious ahead of Fed’s interest rate decision outcome and quarterly earnings.
The market breadth was slightly on the weaker side on Monday. FIIs were the net seller for the second consecutive day, they offloaded shares worth Rs 82.96 crore in the Indian equity markets while DIIs were the buyers, they bought shares worth Rs 934.87 crore.
Quarterly Earnings (Q1FY24)
Larsen & Toubro, Tata Motors, Bajaj Auto, Asian Paints, Jubilant FoodWorks, Amber Enterprises India, Mahindra Holidays & Resorts India, SBI Life Insurance Company, Apollo Pipes, Aurionpro Solutions, Ceat, Cyient, Delta Corp, Dixon Technologies, Indoco Remedies, Jyothy Labs, KPIT Technologies, Suzlon Energy, Triveni Engineering & Industries, and UTI Asset Management Company and others will announce their Q1FY24 quarterly earnings on 25 July.
Note:- With Upstox Options Strategy Builder, you can create an option strategy. You can also try the ready-made options strategy for Free. Click here to Open Free Trading and Demat Account and get Life Time Demat AMC Free with Flat Rs 20 Brokerages
If you like the post “Trade Setup for Tuesday 25 July: Stock Market Today” please share it with others.
You may also like to read, Gift Nifty: The Rebranded SGX Nifty Starts Trading July 3rd
Nifty and Bank Nifty Prediction for Tomorrow 25 July 2023
Happy Investing!!
Editor’s Desk
