Monday, Sep 26, 2022

Important Information For July 27 Stock Trading Strategy

The benchmark indices Sensex and Nifty ended in negative territory on second straight session on Tuesday

File Photo

The markets are likely to have a flat start on Wednesday as indicated by global cues. In early morning deals on Wednesday, SGX Nifty is quoting at 16415, 60 points lower from its Tuesday session close.

The benchmark indices Sensex and Nifty ended in negative territory on second straight session on Tuesday. NSE Nifty lost 147 points and closed at 16,483 whereas BSE Sensex corrected 497 points and ended at 55,268 mark. 

Global markets cues

Ahead of US Fed interest rate decision coming on Wednesday, Wall Street continue to trade choppy on second straight session on Tuesday. Dow Jones ended 0.71 per cent lower, tech heavy Nasdaq crashed 1.87 per cent, S&P 500 dipped 1.15 per cent whereas Small Cap 2000 went off 0.41 per cent. European shares slipped on Tuesday as some disappointing earnings, this week's looming US interest rate hike and an escalating gas crisis kept the mood cautious. 

Asian Markets

Asian markets were buoyed overnight by China's reported plans to tackle a debt crisis in real estate development and by tech giant Alibaba applying for a primary listing in Hong Kong.

In Asian markets today, the Japanese Nikkei is down 0.03 per cent, Hong Kong's Hang Seng is up 1.67 per cent whereas Chinese Shanghai is down by a whisker.

FII DII data

Foreign institutional investors (FIIs) have net sold ₹1548.29 crore worth of shares, whereas domestic institutional investors (DIIs) have net bought ₹999.36 crore worth of shares on July 26, as per provisional data available on the NSE.

Oil Prices

Oil prices reversed early gains and settled lower on Tuesday, as investors worried about lower consumer confidence and braced for another 20 million barrels of crude oil to be released from the US Strategic Petroleum Reserve.

Brent crude futures fell 75 cents, or 0.7%, to settle at $104.40. US West Texas Intermediate (WTI) crude fell $1.72 cents, or 1.8%, to $94.98.

Results on July 27

Maruti Suzuki India, Tata Motors, Bajaj Finance, Biocon, Colgate-Palmolive, Dixon Technologies, JK Lakshmi Cement, Novartis India, Poonawalla Fincorp, United Breweries, will be in focus ahead of June quarter earnings on July 27.