Weekly Trading Diary: 1st July to 05th June 2024

[Tradingqna]

Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.|

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Benchmark indices closed at record highs, up more than half a percent, fueled by gains in IT stocks. Dow and Nasdaq futures are up slightly.

Brent Crude: 85.61 0.72%
USD INR Spot: 83.445 0.10%.
India 10Y Bond yield: 7.016 0.11%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Mahanagar Gas was the top gainer.

India Cements was the top loser.

News

REC Ltd sanctioned loans amounting to Rs 1,12,747 crore during April-June FY25, marking a 24.17% year-on-year increase from Rs 90,797 crore sanctioned in the same period last year, as per an exchange filing.

Coal India Ltd (CIL) reported a nearly 8% year-on-year rise in coal production for Q1 FY25, reaching 189.3 million tonnes, surpassing its target of 189.2 million tonnes. All seven production arms recorded positive growth, with five exceeding their targets, as per a company statement.

Godrej Properties has acquired a 7-acre plot in Thanisandra, North Bengaluru, for a luxury housing project, anticipating revenues of approximately Rs 1,200 crore, as per a regulatory filing.

ITC Ltd aims to significantly increase its exports of raw tobacco to British American Tobacco (BAT) by 2025-26, seeking shareholder approval to sell up to Rs 2,350 crore worth of “unmanufactured tobacco of Indian origin” in its upcoming annual general meeting (AGM).

Titan Company announced its expansion into Bangladesh by launching its jewelry brand Tanishq through a joint venture with Rhythm Group, aiming to establish a presence across the Bangladeshi market.

[Tradingqna]

Nifty and Sensex continued their bullish trend, closing at record highs, up nearly 0.7% for the day, driven by gains in heavyweight stocks. US futures show mixed trends.

Brent Crude: 86.26 0.01%
USD INR Spot: 83.509 0.02%.
India 10Y Bond yield: 7.00 -0.13%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Power Finance Corporation was the top gainer.

Ashok Leyland was the top loser.

News

Russian crude made up 42% of India’s oil imports in June, up from 37% in May, exceeding the combined total from Iraq, Saudi Arabia, the UAE, and the US, with imports rising 13% to 1.92 million barrels per day.

SJVN’s green energy division, SGEL, will supply 4.5 GW of renewable energy to Greenko Group’s AM Green Ammonia Holdings for its facilities across India, targeting the production of five million tonnes per annum of green ammonia by 2030.

The country’s coal production in June rose 14.49% year-on-year to 84.63 million tonnes, with Coal India Ltd (CIL) contributing 63.10 million tonnes, marking an 8.87% increase, as stated by the coal ministry.

Jet fuel (ATF) prices were raised by 1.2% to Rs 96,148.38 per kilolitre, an increase of Rs 1,179.37, while commercial LPG prices were cut by Rs 30 per 19-kg cylinder, aligning with international oil price trends, according to state-owned fuel retailers.

[Tradingqna]

Benchmark indexes reached fresh all-time highs driven by buying in IT and pharma stocks, before reversing to close the day flat. US futures are showing mixed trends.

Brent Crude: 87.14 -0.23%
USD INR Spot: 83.501 -0.01%.
India 10Y Bond yield: 6.998 -0.04%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Lupin Limited was the top gainer.

Ramco Cements was the top loser.

News

LIC announced it acquired a 0.2% stake in IDFC First Bank Limited at ₹80.63 per share, raising its holding to 20.02 crore shares. This investment increased LIC’s stake in the bank to 2.68% through a private placement offer dated June 30.

Star Health aims to double its Gross Written Premium to Rs 30,000 crore in four years, up from Rs 15,254 crore in FY24. The company reported a profit after tax of Rs 845 crore, a 37% increase over the previous year, according to MD and CEO Anand Roy.

Zydus Lifesciences received tentative approval from the USFDA to market its generic Azilsartan Medoxomil tablets, used to treat high blood pressure, in strengths of 40 mg and 80 mg, the company said in a regulatory filing.

Auto parts maker Samvardhana Motherson International raised $350 million by selling five-year bonds to overseas investors, priced at 140 basis points above the five-year US treasury, yielding 5.72%. The bonds were issued by its subsidiary, SMRC Automotive Holdings Netherlands.

[Tradingqna]

Nifty and Sensex recovered from today’s open and closed flat, buoyed by gains in health sector stocks and offset by selling in bank stocks. US futures point to a muted start.

Brent Crude: 87.30 -0.15%
USD INR Spot: 83.51 0.01%.
India 10Y Bond yield: 6.991 -0.10%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Laurus Labs was the top gainer.

HDFC Bank was the top loser.

News

India’s foreign exchange reserves fell by $1.71 billion to $651.9 billion for the week-ended June 28, as the RBI reportedly sold dollars to support the weakening rupee, which declined by 0.3% in June.

Shares of Rail Vikas Nigam Ltd. surged nearly 8% after announcing a partnership with Delhi Metro Rail Corp. for future projects in metro, railways, high-speed rail, highways, and railway electrification.

Dr Reddy’s Laboratories and Sun Pharma are recalling products in the US due to manufacturing issues, according to the USFDA. Dr Reddy’s is recalling 13,752 bottles of Eszopiclone tablets for treating insomnia and gout.

Biocon Biologics Ltd. plans to raise Rs 4,000-4,500 crore ($540 million) from India’s local-currency bond market in the coming months to refinance debt from an earlier acquisition. According to sources, the company is in talks with banks, with terms yet to be finalized.

Indian Railways plans to roll out 10,000 non-AC coaches by 2025-26, with 53% being general coaches to meet common passenger needs. The production plan considers dynamic demand, seasonal variations, and passenger traffic increases.