Weekly trading diary: 16th to 20th October 2023

Tradingqna · October 15, 2023, 2:52pm

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

A look at how the markets fared in the week ending October 13th;

Things to look forward to in the coming week;

Earnings

16th October	17th October	18th October	19th October	20th October	21st October
Ceat Ltd.	Bajaj Finance	Bajaj Auto	Aarti Drugs	Atul Ltd.	Balkrishna Industries
Federal Bank	ICICI Prudential	Bandhan Bank	Coforge	CreditAccess Grameen	ICICI Bank
	Tata Elxsi	ICICI Lombard	Equitas Small Finance Bank	Hindustan Zinc	Kotak Mahindra Bank
		IndusInd Bank	Havells India	JSW Steel	RBL Bank
		LTIMindtree	Hindustan Unilever	Just Dial	Yes Bank
		Oracle Financial Services Software	ITC	L&T Finance Holdings
		Wipro	MphasiS	Paytm
		Zee Entertainment	Nestle
			PVR INOX
			Tata Communications
			UltraTech Cement

Economic events

	16th October		17th October		18th October		19th October		20th October
India	WPI Inflation (September)	US	Retail Sales (September)	China	GDP Growth (Q3 CY23)	US	Jobless Claims	Japan	CPI Inflation (September)
Japan	Industrial Production (August)		Industrial Production (September)		Industrial Production (September)		Home Sales	UK	Retail Sales (September)
					Unemployment Rate (September)
				UK	CPI Inflation (September)
				Eurozone	CPI Inflation (September)
				US	Building Permits (September)
					Weekly Crude Oil Inventories

Tradingqna · October 16, 2023, 1:00pm

Benchmark indexes fell from the day’s peak, closing marginally lower amid concerns over rising crude oil prices owing to geopolitical tensions. US futures are trading higher.

Brent Crude: 90.72 -0.19%
USD INR Spot: 83.2632 0.01%.
India 10Y Bond yield: 7.335 0.20%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

GNFC was the top gainer.

Delta Corp was the top loser.

Earnings Update:

Bank of Maharashtra: Net Profit: Rs. 919.8 cr 72% YoY; NII: Rs. 2,432 cr 28.9% YoY.

Federal Bank: Net Profit: Rs. 954 cr 35.6% YoY; NII: Rs. 2,056.4 cr 16.7% YoY.

HDFC Bank: Net Profit: Rs. 15,976 cr 51% YoY; NII: Rs. 27,385 cr 30.3% YoY.

News

India’s passenger vehicle wholesales rose by 1.87% YoY to 3,61,717 units, while 2-wheeler sales rose to 17,49,794 units from 17,35,199 units YoY. However, 2-wheeler exports in H1 FY24 fell by 20% due to geopolitical tensions and forex crises in key markets like South Asia.

Delta Corp plummeted 8%, reaching a three-year low, following the company’s receipt of an additional GST shortfall notice amounting to Rs 6,384 crore.

Oil prices rose more than 5% on Friday, the biggest day since April, due to growing geopolitical concerns in the Middle East, with Brent crude oil prices once again exceeding the $90 per barrel level.

PVR Inox has announced a new service called Movie Passport to build up revenue for smaller films in cinemas for Rs. 699 per month in order to combat the rising OTT usage.

Tradingqna · October 18, 2023, 1:51pm

Nifty and Sensex both declined by nearly 1% due to bearish signals in global markets and concerns about rising oil prices. Dow and Nasdaq futures are trading lower.

Brent Crude: 91.05 1.29%
USD INR Spot: 83.2571 -0.01%.
India 10Y Bond yield: 7.35 0.30%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Cipla was the top gainer.

Syngene International was the top loser.

Earnings Update:

Bajaj Auto: Net Profit: Rs. 1836 cr 20% YoY; Revenue: Rs. 10,777 cr 5.6% YoY.

Indusind Bank: Net Profit: Rs. 2,202 cr 22% YoY; NII: Rs. 5,077 cr 18% YoY.

LTIMindtree Net Profit: Rs. 1162 cr 2.25% YoY; Revenue: Rs. 9,048.6 cr 7.86% YoY.

Tata Elxsi: Net Profit: Rs. 200 cr 14.8% YoY; Revenue: Rs. 881.7 cr 15.5% YoY.

Wipro: Net Profit: Rs. 2667.3 cr 0.7% YoY; Revenue: Rs. 22,515.9 cr 0.10% YoY.

News

Wipro will merge its wholly-owned subsidiaries, including Wipro HR Services India, Wipro Overseas IT Services, and others, with Wipro Limited. The board approved the amalgamation scheme during a meeting on October 17-18.

India’s diamond polishing industry is projected to experience a 30-35% revenue decline to $14-15 billion in the current fiscal year, primarily due to weak demand from the US, EU, and China, according to rating agency Crisil.

Suzuki Motor intends to produce electric vehicles in India for export to Japan by 2025, establishing India as its global EV manufacturing hub. They also consider supplying India-made EVs to Toyota for the European market under the Toyota brand.

UK inflation held steady at 6.7% in September, defying expectations of a slight drop, with rising oil prices offsetting food cost decreases. The Consumer Prices Index remained at the same rate as the previous month, contrary to the anticipated dip of 6.6%.

Tradingqna · October 19, 2023, 2:29pm

Benchmark indices concluded the day down around 0.3% following bearish signals in the global market. US futures are trading marginally higher.

Brent Crude: 90.72 -0.85%
USD INR Spot: 83.2746 0.14%.
India 10Y Bond yield: 7.369 0.22%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Bajaj Auto was the top gainer.

Astral was the top loser.

News

Tata Motors will acquire a 26.79% stake in digital platform Freight Tiger for Rs 150 crore, as detailed in a regulatory filing.

SoftBank’s affiliate, SVF Growth Singapore Pte, plans to sell a 1.1% stake in Zomato through block deals on Friday.

Oil prices dropped 1% due to the U.S. easing sanctions on Venezuela, but concerns over potential Israel-Gaza conflict escalation limited the fall.

Tradingqna · October 20, 2023, 1:28pm

Nifty and Sensex declined for the third consecutive day amid concerns over US interest rates and surging crude oil prices. US futures are trading lower.

Brent Crude: 93.53 1.24%
USD INR Spot: 83.1982 -0.09%.
India 10Y Bond yield: 7.36 -0.08%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

MCX was the top gainer.

Indraprastha Gas was the top loser.

Earnings Update:

Glenmark Life: Net Profit: Rs. 118.7 cr 11.1% YoY; Revenue: Rs. 595.3 cr 16.9% YoY.

Hindustan Zinc: Net Profit: Rs. 1729 cr 35.5% YoY; Revenue: Rs. 6791 cr 18.5% YoY.

JSW Steel: Net Profit: Rs. 2773 cr Loss 915 cr YoY; Revenue: Rs. 44,584 cr 6.7% YoY.

J&K Bank: Net Profit: Rs. 381.1 cr 56.5% YoY; NII: Rs. 1333.8 cr 10.8% YoY.

Laurus Labs: Net Profit: Rs. 37 cr 84.1% YoY; Revenue: Rs. 1224 cr 22.3% YoY.

News

City Gas Distribution companies IGL & MGL dropped 12% and 8% after Delhi’s policy mandated a shift to 50% EVs in aggregators’ fleets within 3 years, reaching 100% in 5 years, with a complete transition by April 1, 2030.

Kotak Mahindra Bank rose 1.8% after RBI approval to buy Sonata Finance for Rs. 537 crore.

India’s foreign exchange reserves rose by $1.153 billion to $585.895 billion for the week ended October 13, according to the RBI’s most recent figures. Previously, foreign exchange reserves fell by $2.166 billion for the week ending October 6 to $584.742 billion.

According to Canalys report, India’s smartphone market saw 43 million shipments in Q3, indicating a recovery, despite a 3% YoY decline in shipments.