Weekly trading diary: 14th to 18th August 2023

Tradingqna · August 13, 2023, 2:17pm

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

Here’s a quick look at market performance in the week gone by:

Things to look forward to in the coming week;

Corporate earnings

The earnings session comes to a close this week, with only a few big companies releasing their earnings:

	14th August
Divi’s Laboratories Limited
Easy Trip Planners Limited
Hindustan Copper Limited
Indiabulls Housing Finance Limited
Vodafone Idea Limited

Macroeconomic events

	14th August		15th August		16th August		17th August		18th August
India	CPI Inflation (July)	Japan	GDP Growth (Q2 CY23)	Eurozone	GDP Growth (Q2 CY23)	US	Jobless Claims	Eurozone	CPI Inflation (July)
	WPI Inflation (July)		Industrial Production		Industrial Production
		China	Industrial Production	UK	CPI Inflation (July)
				US	FOMC Meeting Minutes
					Crude Oil Inventories
					Industrial Production

Tradingqna · August 14, 2023, 1:19pm

Benchmark indexes recovered from early lows to finish the day marginally higher. Dow and Nasdaq futures are trading lower.

Brent Crude: 86.52 -0.33%
USD INR Spot: 82.9521 0.21%.
India 10Y Bond yield: 7.212 0.19%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

PVR INOX was the top gainer.

City Union Bank was the top loser.

Earnings Update:

Divi’s Labs: Net Profit: Rs. 356 cr 49.3% YoY; Revenue: Rs. 1,778 cr 21.2% YoY.

ITC: Net Profit: Rs. 4903 cr 17.6% YoY; Revenue: Rs. 15,828 cr 8.5% YoY.

News

PVR INOX gained nearly 5% after the company set a record for single-day and weekend admissions and box office.

India’s July trade deficit increased to $20.67B from June’s $20.13B but improved from the $25.7B deficit YoY. Imports in July fell 17% to $52.92B (from $63.8B in 2022), while exports declined 16% to $32.25B (from $38.34B in July 2022), as per the commerce ministry data.

SEBI requested an additional fortnight to submit a report on the Adani-Hindenburg matter in an application to the Supreme Court, despite the fact that it had investigated 24 matters in the case.

The wholesale inflation rate in India fell for the fourth consecutive month in July, the commerce ministry reports, falling by 1.36% on a year-over-year basis, primarily due to of lower prices for mineral oils, basic metals, chemical & chemical products, textiles, and food products.

The rupee has reached a 10-month low against the US dollar, breaking above the 83 mark, owing to a rise in US bond yields and the US dollar index.

Tradingqna · August 16, 2023, 1:39pm

Nifty and Sensex reversed their course in the last hour and ended slightly higher for the second consecutive session. Futures on the Dow and Nasdaq are trading lower.

Brent Crude: 85.11 0.26%
USD INR Spot: 82.9521 0.00%.
India 10Y Bond yield: 7.209 0.01%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Indiabulls Housing Finance was the top gainer.

Crompton was the top loser.

News

Auto stocks rebounded as the union cabinet greenlit “PM-eBus Sewa,” a plan to boost urban bus operations with 10,000 e-buses across 169 cities under a PPP model. The scheme, with an estimated cost of Rs 57,613 crore, includes Rs 20,000 crore by Centre support.

Diesel consumption fell for the second consecutive month, falling 5.7% year on year to 2.67 million tonnes from August 1 to 15, as monsoon rains hampered mobility and slowed industrial activity.

The Cabinet sanctioned seven railway multi-tracking projects with a budget of Rs 32,500 crore. This initiative will extend the Indian Railways network by 2,339 km, according to the Railway Minister.

Interglobe Aviation plunged 3.6% as the Gangwal family, the promoters, reportedly reduced a portion of their 29.72% stake through block deals. The shares were sold at a floor price of Rs 2,400 per share, representing a 5.8% discount on Monday’s closing price.

UK’s inflation hit an 18-month low of 6.8% in July 2023, primarily due to declining gas and electricity costs.

Tradingqna · August 17, 2023, 1:15pm

Benchmark indices ended the day over 0.5% lower, breaking a two-day gain streak, following weak global cues. US futures are trading slightly higher.

Brent Crude: 84.19 0.89%
USD INR Spot: 83.1263 0.21%.
India 10Y Bond yield: 7.249 0.55%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

REC was the top gainer.

India Cements was the top loser.

News

Bata India rose 5.5% on news that the company is in talks with Adidas about a strategic partnership in the Indian market.

Tejas Networks announced an Rs.7,492 crore contract to supply its latest 4G/5G Radio Access Network (RAN) for BSNL’s pan-India network, which spans 100,000 sites.

China’s economic slowdown concerns coupled with expectations of prolonged higher interest rates pushed the U.S. 10-year Treasury yield to a 10-month peak at 4.312% on Thursday. This level tested October’s 4.338%, potentially signaling its highest point since 2007.

Tradingqna · August 18, 2023, 12:57pm

Nifty and Sensex tumbled in the final hours to settle around 0.3% lower, closing negative for the second consecutive day. Dow and Nasdaq futures are trading lower.

Brent Crude: 83.55 -0.68%
USD INR Spot: 83.0905 -0.04%.
India 10Y Bond yield: 7.216 -0.47%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Adani Enterprises was the top gainer.

Manappuram Finance was the top loser.

News

Concord Biotech’s shares debuted at Rs 900.05, a 21% premium over the issue price of Rs 741 per share, and closed 27% higher at 943.

Moody’s affirmed a ‘BAA3’ rating on India while commenting that despite growing at a high rate, India’s potential growth has come down in the past 7-10 years. Further, it flagged that India continues to suffer from a high debt burden and weak debt affordability.

As per a Reuters report, India is heading for its driest August in more than a century, with scant rainfall likely to persist across large areas, partly because of the El Nino weather pattern.

Reliance Industries recovered more than 2% from lows after announcing that its subsidiary, Jio Financial Services (JFS), will be listed on the stock exchanges on August 21, 2023.

China’s previously second-largest property developer Evergrande Group filed for bankruptcy in New York, 2 years after the firm borrowed heavily and defaulted on its debt in 2021, sparking a massive property crisis in China’s economy, which continues to feel the effects.