Weekly Trading Diary: 10th June to 14th June 2024

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


Nifty and Sensex hit fresh highs early but ended lower, snapping their three-day streak due to selling in IT stocks and weak global cues. US futures are trading slightly lower.

:oil_drum:Brent Crude: 79.86 0.30%
:heavy_dollar_sign:USD INR Spot: 83.509 -0.02%.
:scroll:India 10Y Bond yield: 7.032 0.2%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Ramco Cements was the top gainer.

:chart_with_downwards_trend: Vedanta was the top loser.

:newspaper: News

India’s passenger vehicle exports rose by 2.68 lakh units in the last four financial years, with Maruti Suzuki accounting for 70% of the incremental shipments. Exports stood at 4,04,397 units in 2020-21, 5,77,875 units in 2021-22, and 6,62,703 units in 2022-23.

NTPC, India’s largest power generation company, plans to invest $50 billion (Rs 4.17 lakh crore) over the next decade, averaging $5 billion annually. This investment will focus on clean fuel production and expanding power generation capacity, as per Mint.

The Leela Palaces, Hotels and Resorts plans to seek a valuation of at least $2.5 billion in a public listing, with promoter Brookfield intending to sell 15% to the public initially and another 10% over the next three years, potentially making the IPO worth around Rs 3,150 crore.

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Benchmark indexes erased gains and closed flat ahead of the Fed’s policy decision and consumer price inflation data. Dow and Nasdaq futures are trading lower.

:oil_drum:Brent Crude: 81.42 -0.26%
:heavy_dollar_sign:USD INR Spot: 83.601 0.10%.
:scroll:India 10Y Bond yield: 7.015 -0.24%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: ONGC was the top gainer.

:chart_with_downwards_trend: InterGlobe Aviation was the top loser.

:newspaper: News

Cognizant will acquire US-based Belcan for $1.3 billion in cash and stock, including $1.19 billion in cash and 1.47 million shares of Cognizant Class A stock valued at $97 million.

State Bank of India and other public sector lenders are urging the government to allow deposit incentives to bridge the gap between slower deposit growth and rising credit. They also request reducing the lock-in period for tax-saving fixed deposits from five to three years.

JSW Energy has started constructing a 1 GWh battery energy storage system at Fatehgarh, Rajasthan, with two 500 MWh installations, each providing two hours of storage per cycle, according to a regulatory filing.

India is the first market outside the US to have 2,000 Domino’s Pizza stores, with Jubilant FoodWorks aiming to double this to 4,000. CEO Sameer Khetarpal stated the company is bullish on both dine-in and delivery, ramping up investments in back-end commissaries.

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Benchmark indices hit a record high on expectations of an early interest rate cut by the Federal Reserve, driven by soft U.S. inflation data. US futures show mixed trends.

:oil_drum:Brent Crude: 82.14 -0.56%
:heavy_dollar_sign:USD INR Spot: 83.556 0.08%.
:scroll:India 10Y Bond yield: 6.987 -0.36%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Oracle Financial Services Software was the top gainer.

:chart_with_downwards_trend: Marico was the top loser.

:newspaper: News

India’s palm oil imports surged 74% to 7,63,300 tonnes in May from a year ago, driven by rising domestic demand. Total vegetable oil imports also rose to 15.29 lakh tonnes in May from 10.58 lakh tonnes in May 2023, according to the Solvent Extractors Association.

L&T has secured a ‘large order’ from ONGC, classified with a value ranging between Rs 2,500 crore and Rs 5,000 crore.

Brigade Enterprises Ltd announced an investment of Rs 8,000 crore in Chennai for developing housing, commercial, and hotel projects by 2030, with projects covering over 15 million square feet.

BPCL has appointed SBI Capital Markets to arrange a Rs 31,000 crore loan for the capital expenditure at its Bina refinery complex in Madhya Pradesh.

Ather Energy has selected Aurangabad, Maharashtra, for its third plant with a capacity of 1 million two-wheelers per year. The company plans to invest Rs 1,000 crore in the 100-acre plant in phases, pending an agreement with the state government.

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Nifty and Sensex reached new closing lifetime highs, driven by buying in major heavyweight stocks and positive market cues. Dow and Nasdaq futures are trading lower.

:oil_drum:Brent Crude: 82.92 0.21%
:heavy_dollar_sign:USD INR Spot: 83.538 -0.02%.
:scroll:India 10Y Bond yield: 6.985 -0.01%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: ABB India was the top gainer.

:chart_with_downwards_trend: Balrampur Chini Mills was the top loser.

:newspaper: News

Ambuja Cements is acquiring Penna Cement Industries for Rs 10,442 crore, enhancing its southern presence. This marks Ambuja’s fourth M&A and will boost its share by 8% in South India.

Tata Consumer Products aims to transform into a comprehensive FMCG company by entering new categories, doubling its capex to Rs 785 crore for FY25. The company will also consider acquisitions for growth, focusing on financial viability and opportunities.

Dixon Technologies plans to invest INR 1,500-1,800 Cr in India over the next three years to expand production capacity and component manufacturing. The investment will be funded through internal accruals and cash flow.

Vodafone Idea Ltd (VIL) plans to raise up to Rs 2,458 crore through a preferential share issue to Nokia and Ericsson. This move will help clear a part of their pending dues and support VIL’s 4G expansion and 5G rollout.

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