Weekly trading diary: 17th to 21st April 2023

[Tradingqna]

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

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Things to watch out for in the coming week;

Corporate earnings

17th April	18th April	19th April	20th April	21st April	22nd April
Network18 Media & Investments Limited	Bank of India	Tata Communications Limited	ICICI Prudential Life Insurance Company Limited	Hindustan Zinc Limited	ICICI Bank Limited
TV18 Broadcast Limited	State Bank of India		ICICI Prudential Life Insurance Company Limited	Reliance Industries Limited	Yes Bank Limited
Just Dial Limited	Tata Coffee Limited		Cyient Limited
	ICICI Lombard General Insurance Company Limited		HCL Technologies Limited

Macroeconomic events

17th April		18th April		19th April		20th April		21st April
WPI Inflation (MAR)	China	GDP Growth (Q1CY23)	Japan	Industrial Production (FEB)	US	Jobless Claims	Japan	Services PMI (APR)
		Industrial Production (MAR)	UK	CPI Inflation (MAR)		Home Sales (MAR)	Eurozone	Manufacturing PMI (APR)
			Eurozone	CPI Inflation (MAR)				Services PMI (APR)
			US	Crude Oil Inventories				Composite PMI (APR)
							UK	Manufacturing PMI (APR)
								Services PMI (APR)
								Composite PMI (APR)
							US	Manufacturing PMI (APR)
								Services PMI (APR)
								Composite PMI (APR)

[Tradingqna]

Nifty and Sensex end their nine-day winning streak, tumbling more than 0.7% for the day following poor global signals. US futures are trading slightly higher.

Brent Crude: 85.81 -0.58%
USD INR Spot: 81.9456 -0.04%
India 10Y Bond yield: 7.247 0.25%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Aditya Birla Capital was the top gainer.

Infosys was the top loser.

News

The Nifty IT index fell 5% after industry giants TCS and Infy reported weaker-than-expected earnings and outlook for FY24, triggering a series of downgrades.

Passenger vehicle exports from India increased by 15% in FY23, reaching a total of 6,62,891 units, with passenger car shipments growing by 10% at 4,13,787 units, and utility vehicle exports rising by 23% at 2,47,493 units, as per the latest data by industry body SIAM.

Vedanta Group signed MoUs with 20 Korean display glass companies at a South Korean government event for the creation of an electronics manufacturing hub in India.

Diesel sales in India increased 15% to 3.45 million tonnes in the first half of April as agricultural activity rose. When compared to the same period last year, petrol sales increased by nearly 2% to 1.14 million tonnes. Sales, on the other hand, declined 6.6% month on month.

India’s WPI-based inflation dropped to a 29-month low of 1.34% in March, down from 3.85% in February, per provisional data from the Commerce Ministry, attributed to lower rates in various sectors.

[Prakashsingh]

@Tradingqna

State Bank of India

Market is waiting for SBI results. To decide the direction for the week ahead.

Just checked. Think it’s only a board meeting. Might be related to fund raise n not quarterly results.

[Tradingqna]

Benchmark indexes erased early gains and slumped to settle around 0.3% lower following negative global cues. US futures are trading higher, signaling a good start.

Brent Crude: 84.62 -0.17%
USD INR Spot: 82.0734 0.16%
India 10Y Bond yield: 7.221 -0.36%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Lupin was the top gainer.

Tata Chemicals was the top loser.

News

Tata Chemicals cut soda ash prices by 3-4% across India from April 17, 2023. The cuts are due to falling prices of soda ash in China since mid-March, caused by unexpected news of increased capacity in Inner Mongolia from May 2023.

China’s GDP climbed by 4.5% in the first quarter, the highest rate since the first quarter of last year, owing to increasing consumption and retail sales.

India’s air passenger traffic in March increased by 21.4% to 1.29 crore passenger, falling just short of the highest-ever monthly traffic as demand for air travel increased.

SBI’s central board approved a long-term fund-raising proposal of up to US $2 billion in single or multiple trenches by a public offer or private placement of senior unsecured notes in US dollars or any other convertible currency during FY 2023-24.

Sugar production in India declined 6% to 311 lakh tonnes until April 15 of the 2022-23 marketing year, which ends in September, owing mostly to lower output in Maharashtra: Indian Sugar Mills Association

[Tradingqna]

Nifty and Sensex fell for the third straight trading session following bearish signals in global markets. Dow and Nasdaq futures indicate a poor start for US markets.

Brent Crude: 83.1 -1.97%
USD INR Spot: 82.1202 0.06%
India 10Y Bond yield: 7.225 0.06%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Hindustan Petroleum Corporation was the top gainer.

Balkrishna Industries was the top loser.

Earnings Update:

Tata Coffee: Net Profit: Rs.48.8 cr 19.7% YoY; Revenue: Rs. 723 cr 10.2% YoY.

News

The government imposed a windfall tax of Rs 6,400 per tonne on domestic crude oil production and raised the SAED on crude petroleum by the same amount. SAED on petrol and ATF remains unchanged, while SAED on diesel has been cut from Rs 0.50 per litre to nil.

UK’s CPI inflation rate is the highest in Western Europe at 10.1% in March, mainly due to a 19.1% increase in food and non-alcoholic drink prices and a 40% rise in milk and sugar costs compared to last year.

BEML Land Assets (BLAL) had a quiet listing day, with the stock opening at Rs 290.20 and reaching a high of Rs 304.70 in intraday trade before erasing gains and ending 5% down at Rs 275.70.

According to Netflix’s quarterly earnings, price cuts of 20-60% last year helped the business increase engagement in the country by roughly 30% YoY in the first quarter of 2023, with FX-neutral revenue growth rising to 24% in 2022 vs 19% in 2021.

[Tradingqna]

Benchmark indices struggled to hold onto early gains in a choppy session, settling flat. Futures on Dow and Nasdaq indicate a weak opening for US markets.

Brent Crude: 82.06 -1.28%
USD INR Spot: 82.1635 0.05%
India 10Y Bond yield: 7.222 -0.07%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Cummins India was the top gainer.

Divi’s Laboratories was the top loser.

Earnings Update:

Cyient: Net Profit: Rs.163.2 cr 5.8% YoY; Revenue: Rs.1,751 cr 48% YoY.

HCL Tech: Net Profit: Rs.3,983 cr 11% YoY; Revenue: Rs.26,606 cr 18% YoY.

News

India’s domestic crude oil production dropped by 1.7% year on year in 2022-23, while petroleum product consumption rose by 10.2%. This led to an increase in India’s crude import bill from $121 billion to $158 billion, as per data from the oil ministry.

Zydus Lifesciences announced that it has received final approval from USFDA to manufacture and market its generic version of metoprolol tartrate tablets used to treat high blood pressure which had annual sales of $45.2 million in the U.S as per IQVIA MAT February 2023 data.

Tata Motors closed higher by 1.3% after JLR announced that it planned to increase its investments in EVs with an investment of 15 billion pounds ($19 billion) over the next five years, launching a new electric Jaguar in 2025.

Crude oil prices continued to decline despite falling stockpiles, retracing much of the OPEC+ production cut news move due to the fears of another interest rate hike and a climbing dollar.

[Tradingqna]

Nifty and Sensex recovered from days lows to close the session a little unchanged. US futures are trading lower.

Brent Crude: 81.27 0.21%
USD INR Spot: 82.1542 -0.01%
India 10Y Bond yield: 7.187 -0.46%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Vodafone Idea was the top gainer.

Oberoi Realty was the top loser.

Earnings Update:

Hindustan Zinc: Net Profit: Rs. 2,583 cr 11.8% YoY; Revenue: Rs. 8,509 cr 3.3% YoY.

Reliance Jio: Net Profit: Rs.4,716 cr 13% YoY; Revenue: Rs.23,394 cr 12% YoY.

News

As per the latest payroll data by EPFO, fresh formal job creation declined sequentially for a third straight month in February falling 10% MoM to a 21-month low at 738,052, indicating pressure in the employment market.

HDFC Bank got a nod from the RBI to increase the shareholding in HDFC Life and HDFC ERGO to more than 50% prior to the effective date of the merger.

Eurozone PMI rose to 54.4 in April from 53.7 in March indicating that the eurozone economy’s growth accelerated in April and hit an 11-month high primarily on account of the booming service sector.