Weekly Trading Diary: 19th to 23rd February 2024

Tradingqna · February 19, 2024, 3:58am

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

Here’s how the markets performed in the week ended February 16;

Things to look forward to in the coming week:

IPOs

Company	Type	Issue Period	Price	Minimum lot size
Juniper Hotels Limited	Mainboard	21st to 23rd February	Rs. 342 - 360	40
GPT Healthcare Limited	Mainboard	22nd to 26th February	To Be Confirmed	To Be Confirmed
Zenith Drugs Limited	SME	19th to 22nd February	Rs. 75 - 79	1,600
Deem Roll Tech Limited	SME	20th to 22nd February	Rs. 129	1,000
Sadhav Shipping Limited	SME	23rd to 27th February	To Be Confirmed	To Be Confirmed

Economic events

	20th February		22nd February
China	PBoC Loan Prime Ratw	India	MPC Meeting Minutes
		US	FOMC Meeting Minutes
			Jobless Claims
			Home Sales (JAN)
			Crude Oil Invesntories
		Eurozone	CPI Inflation (JAN)

Tradingqna · February 19, 2024, 12:52pm

Nifty and Sensex started the week positively, with the Nifty 50 hitting an all-time high, driven by gains in financials and energy stocks. US futures are trading slightly higher.

Brent Crude: 82.98 -0.59%
USD INR Spot: 83.0375 0.00%.
India 10Y Bond yield: 7.099 0.00%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Dixon Technologies (India) was the top gainer.

Coal India was the top loser.

News

India’s power consumption surged by 7.5% to 1354.97 BU in April-January, signaling economic growth. This marks an increase from 1259.49 BU in the same period last fiscal year.

Tata Power plans to establish pumped hydro storage projects with a capacity of 2,800 MW by 2028-29, involving an investment of ₹15,000 crore, as per CEO Praveer Sinha.

LIC, India’s second-most valued state company, has received over ₹21,740 crore in refunds from the income-tax department, with another ₹3,700 crore pending.

Power Grid Corporation’s board has approved approximately Rs 656 crore for electricity transmission projects, with investment approvals granted in meetings held on February 18, 2024.

RVNL shares surged 12% on February 19 following the announcement that its order book had reached Rs 65,000 crore. The state-run company is exploring projects in offshore markets such as Central Asia, the UAE, and Western Asia, as disclosed during an investor call.

Tradingqna · February 20, 2024, 12:07pm

Benchmark indices continued their winning streak, with the Nifty hitting another all-time high for the second consecutive day. Dow and Nasdaq futures indicate a weak opening.

Brent Crude: 82.89 -0.79%
USD INR Spot: 82.9704 -0.06%.
India 10Y Bond yield: 7.063 -0.51%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Zee Entertainment Enterprises was the top gainer.

Federal Bank was the top loser.

News

Whirlpool Corporation of America plans to sell up to a 24% stake in Whirlpool of India through block deals, with a floor price of Rs 1,230 per share. The deal is valued at Rs 3,750 crore, representing a discount of nearly 7.6% from the current market price.

The Tata Group is exploring partnerships with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation and UMC Group for its Dholera chip plant in Gujarat, aiming to produce chips for various applications.

LTIMindtree Limited’s shares gained following the announcement of Navisource.AI, an autonomous sourcing platform powered by GenAI, aiming to reduce overall procurement costs by 10-15%.

Raymond Realty unveiled its inaugural project in Mumbai’s real estate sector, ‘The Address by GS, Bandra,’ located in Bandra East. Spanning 0.7 million sqft on a 2.74-acre land parcel, the project carries an estimated development value exceeding Rs 2,000 crore.

Tradingqna · February 22, 2024, 1:12pm

Benchmark indexes rebounded from the day’s low to close higher, gaining 0.74% for the day, with Nifty reaching a new high of 22,252.50. US futures are trading lower.

Brent Crude: 83.20 0.20%
USD INR Spot: 82.851 -0.10%.
India 10Y Bond yield: 7.06 0.21%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

ABB was the top gainer.

IndusInd Bank was the top loser.

News

Domestic corporate bond issuances surged by Rs 80,000 crore in the first nine months of 2023-24 compared to the previous year, reaching Rs 6.1 lakh crore between April and December, a 15 percent increase year-on-year, as reported by Reserve Bank data.

ITC eyes acquisition of Peak XV’s 47% stake in Prataap Snacks after talks with Haldiram’s fail. Buyout funds like KKR, TA Associates, and Apax are also in consideration as Peak XV plans to exit.

The Financial Stability and Development Council is discussing strategies to simplify the financial sector’s KYC process, aiming to curb unauthorized lending through online apps, as per Business Standard. Regulatory bodies are urged to take additional measures against such practices.

India’s mineral output surged by 5.1% in December 2023 compared to the previous year, reaching an index of 139.4, as per the mines ministry.

Tradingqna · February 23, 2024, 1:11pm

Benchmark indexes ended the session flat amid volatility, driven by selling observed in the IT and select banking stocks. US futures indicate a muted start for US stocks.

Brent Crude: 82.81 -1.03%
USD INR Spot: 82.935 0.11%.
India 10Y Bond yield: 7.075 0.18%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Vodafone Idea was the top gainer.

Bank of Baroda was the top loser.

News

The Reserve Bank of India has approved the transfer of Paytm’s UPI-based payments business from Paytm Payments Bank to several other banks.

Danone and Nestle, two leading consumer goods companies, announced plans to curb price hikes in 2024 following two years of increases, which led consumers to explore more affordable options for products like yogurt and coffee.

Vodafone Idea has partnered with Mavenir to pilot commercial Open RAN technology, marking an advanced phase in the deployment.

Ashok Leyland, the Hinduja Group flagship, announced a milestone of producing three million units from its Uttarakhand factory, reinforcing its vision to be among the top 10 global Commercial Vehicle (CV) manufacturers.

Tractor sales in key western and southern Indian states plummeted, leading to a 4% decline in overall sales for the fiscal year, contrasting with record growth in FY23.

IRCTC has collaborated with Swiggy to offer delivery services for pre-ordered meals from its e-catering portal. Initially, Swiggy will cater to IRCTC customers at four railway stations: Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam.