Weekly Trading Diary: 20th to 24th March 2022

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







Things to watch out for in the coming week;

Key macroeconomic events to watch out for during the week;

20th March 21st March 22nd March 23rd March 24th March
US Existing Home Sales UK CPI Inflation (FEB) UK BoE Interest Rate Decision Japan Core CPI Inflation (FEB)
US Fed Interest Rate Decision US Jobless Claims Services PMI
Curde Oil Inventories New Home Sales UK Retail Sales (FEB)
Manufacturing PMI (MAR)
Services PMI (MAR)
Composite PMI (MAR)
Eurozone Manufacturing PMI (MAR)
Services PMI (MAR)
US Manufacturing PMI (MAR)
Services PMI (MAR)
Composite PMI (MAR)

What are you looking forward to in the week? Share below and join the discussion :point_down:

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Nifty and Sensex began the week on a negative note, closing 0.6% lower following poor sentiment brought on by the global banking crisis. US futures are trading lower.

:oil_drum:Brent Crude: 71.93 -0.81%
:heavy_dollar_sign:USD INR Spot: 82.503 0.04%
:scroll:India 10Y Bond yield: 7.338 -0.22%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Hindustan Unilever was the top gainer.

:chart_with_downwards_trend: Balrampur Chini Mills was the top loser.

:newspaper: News

Swiss regulators mediated a deal in which the UBS group agreed to acquire its rival Credit Suisse for $3.25 billion in order to restore customer confidence.

Domestic and international passenger traffic will increase by more than 20% in FY24, according to aviation consultancy CAPA India, driven by fleet addition as the combined fleet size of Indian carriers increases from 684 at the end of March 2023 to 816 by March 2024.

Tata Consumer Products fell 2% before recovering to close -0.4% after the Tata Group company halted acquisition talks with Bisleri. It stated that no definitive agreement or binding commitment on this matter had been signed.

Oil prices fell sharply by 10% in a week to 15-month lows, with Brent at $70.9 and WTI below $65 per barrel. Worries over the global banking sector and potential US interest rate hikes causing a recession and weakening demand.

Benchmark indexes opened higher and gained more than 0.7% following bullish global trends. US markets look set for a good opening.

:oil_drum:Brent Crude: 74.19 0.62%
:heavy_dollar_sign:USD INR Spot: 82.6799 0.21%
:scroll:India 10Y Bond yield: 7.351 0.23%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: HDFC Asset Management Company was the top gainer.

:chart_with_downwards_trend: GMR Airports Infrastructure was the top loser.

:newspaper: News

The Central Government reduced the windfall tax on domestic crude oil from Rs 4,400 to Rs 3,500 per tonne and increased the export duty on diesel from Rs 0.50 to Rs 1 per litre. Petrol and ATF are exempted from export levy since March 21.

According to EY’s “Future of Pay 2023” report, average salary hikes in India are predicted to be 10.2% in 2023, slightly lower than 10.4% in 2022, with e-commerce, professional services, and IT expected to have the steepest salary hikes.

Sterling and Wilson Renewable Energy surged more than 6% after the company emerged as the successful bidder for work on a solar PV project worth around Rs 2,100 crore at Khavda RE Power Park, Rann of Kutch.

India’s renewable energy capacity will reach 168.96 GW by Feb 2023, with solar at 64.38 GW, hydro at 51.79 GW, wind at 42.02 GW, and biomass at 10.77 GW, as per Union Minister for Power.

Benchmark indexes slid from day’s highs but managed to close marginally higher, continuing the upward trend for the second day. US markets look set for a mixed opening.

:oil_drum:Brent Crude: 74.87 -0.21%
:heavy_dollar_sign:USD INR Spot: 82.6799 0.00%
:scroll:India 10Y Bond yield: 7.351 0.00%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Bandhan Bank was the top gainer.

:chart_with_downwards_trend: ABB India was the top loser.

:newspaper: News

IFC will invest Rs. 600 crores in Mahindra & Mahindra’s new last-mile mobility subsidiary, NewCo. IFC’s stake in NewCo will be between 9.97% to 13.64%, and the new company will have a valuation of up to Rs. 6,020 crores.

Hindustan Zinc closed up over 2% following news of a record 4th dividend this year. The dividend of Rs. 26 per share is worth Rs. 10,983 crores. The company has declared dividends of Rs. 75.5 per share for FY23, totaling Rs. 32,000 crores.

The UK’s inflation rate jumped to 10.4% YoY in February, up from 10.1% the previous month, due to increasing energy costs.

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Benchmark indices failed to hold on to the gains after recovering from the day’s lows, closing lower by around half a percent. US futures are trading higher.

:oil_drum:Brent Crude: 76.26 -0.56%
:heavy_dollar_sign:USD INR Spot: 82.159 -0.63%
:scroll:India 10Y Bond yield: 7.35 -0.05%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Coromandel International was the top gainer.

:chart_with_downwards_trend: Vedanta was the top loser.

:newspaper: News

The US Federal Reserve has raised its base interest rates by 0.25%, resulting in the central bank’s benchmark overnight rate for commercial lenders now ranging between 4.75% to 5%.

Bank of England hiked interest rates by 25 basis points to 4.25% as inflation in the country soared to 10.4% in February.

India plans to create and deploy 6G network technologies that will provide secure and affordable connectivity by 2030. PM Narendra Modi unveiled the Bharat 6G Vision document, stating that it will serve as a major basis for the upcoming 6G rollout in the next few years.

Reliance Consumer Products, the FMCG division of Reliance Retail Ventures, plans to introduce home and personal care items tailored to address the real issues of consumers in India and expand its range to local grocery stores.

The consumer affairs ministry is drafting stricter rules for e-commerce, online retail platforms like Amazon and Flipkart are liable for fraud by sellers and providing fallback liability as intermediaries.

Benchmark indices declined from their day’s high, closing lower around 0.75% following bearish signals in global markets. Dow and Nasdaq futures indicate a bad start for US markets.

:oil_drum:Brent Crude: 72.64 -3.81%
:heavy_dollar_sign:USD INR Spot: 82.2378 0.10%
:scroll:India 10Y Bond yield: 7.315 -0.41%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Aurobindo Pharma was the top gainer.

:chart_with_downwards_trend: Aditya Birla Capital was the top loser.

:newspaper: News

Accenture plans to cut 2.5% of its workforce, about 19,000 people, due to wage inflation and cost-cutting. The company anticipates a severance cost of $1.2 billion.

Deutsche Bank shares fell 15% on mounting concerns about European bank stability, as the cost of insuring against Deutsche Bank default (CDS prices) skyrocketed in an unexpected rise after the Fed rate hike.

The Finance Bill 2023 has been amended to remove the benefit of indexation and treat taxation as short-term capital gains (STCG) for debt mutual funds with effect from April 1, 2023.

While making amendments to the Finance Bill, 2023, The Finance Ministry has announced an increase in STT on futures and options. The STT on futures has been revised to 0.0125% from 0.01% and the STT on options has been revised from 0.05% to 0.062%.

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