Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.
Nifty and Sensex ended marginally lower ahead of tomorrow’s Union Budget, while Dow and Nasdaq futures are trading higher.
Brent Crude: 81.80 -1.00%
USD INR Spot: 83.6654 0.03%.
India 10Y Bond yield: 6.967 0.03%
Nifty 50 heat map.
More stats at: technicals.zerodha.com
Amongst the F&O stocks
Indian Hotels was the top gainer.
Wipro was the top loser.
News
Hero MotoCorp aims to lead the electric two-wheeler segment by introducing affordable models this fiscal year and hopes to debut its electric range internationally, according to CEO Niranjan Gupta.
Amazon India is in talks with Swiggy for a deal involving Instamart. This follows Swiggy’s confidential filing for a Rs 10,414 crore IPO, one of the largest for a new-age firm.
Indian IT services sector’s Q1 results show improved fiscal growth over the previous year, with Infosys leading among top firms like TCS, HCLTech, and Wipro, reflected in its full-year revenue guidance.
JSW Infrastructure is enhancing its logistics with inland container depots, freight stations, and rail terminals. It has acquired a slurry pipeline from JSW Utkal and is also buying a majority stake in Navkar Corporation for expanded connectivity and operations.
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Benchmark indexes finished lower in a volatile session after the government raised capital gains and securities transaction taxes in the 2024-25 budget.
Brent Crude: 81.39 -1.23%
USD INR Spot: 83.6625 0.00%.
India 10Y Bond yield: 6.970 0.04%
Nifty 50 heat map.
More stats at: technicals.zerodha.com
Amongst the F&O stocks
Titan was the top gainer.
Manappuram Finance was the top loser.
News
The Finance Minister presented the Union Budget 2024-25, announcing a hike in Standard Deduction to Rs 75,000 from Rs 50,000 and revised tax slabs under the new tax regime while refraining from significant tax reliefs or changes to the basic tax exemption limits.
Long-term capital gains tax on all assets increased to 12.5% from 10%, and short-term capital gains tax on certain assets raised to 20%.
Securities Transaction Tax (STT) on the sale of options raised from 0.0625% to 0.1% of the premium, and on futures from 0.0125% to 0.02% of the trade price.
Basic customs duty on mobile phones, PCB assemblies, and chargers was cut from 20% to 15%, while duty on gold was reduced from 10% to 6%, making jewellery approximately 9% cheaper for consumers, effective July 24, 2024.
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Benchmark indexes declined for the fourth session, falling roughly 0.3% on selling in financial and banking stocks. Dow and Nasdaq futures are trading lower.
Brent Crude: 81.59 0.72%
USD INR Spot: 83.7028 0.05%.
India 10Y Bond yield: 7.086 1.66%
Nifty 50 heat map.
More stats at: technicals.zerodha.com
Amongst the F&O stocks
ICICI Prudential Life Insurance was the top gainer.
Godrej Consumer Products was the top loser.
News
AdGreen Energy Limited (AGEL) has operationalized the first 250 MW wind capacity at the 30,000 MW renewable energy plant in Khavda, Gujarat, bringing the total operational capacity at Khavda to 2,250 MW and AGEL’s portfolio across India to 11,184 MW.
United Spirits has invested in V9 Beverages and Indie Brews and Spirits, acquiring 15% of V9 Beverages and 25% of Indie Brews and Spirits. This aligns with its strategy to explore new growth opportunities in non-alcoholic and coffee-based alcoholic beverages.
India’s edible oil imports for July reached a record 1.92 million metric tons, up 26% from June, as refiners took advantage of low prices and anticipated import duty hikes.
BSNL received ₹82,916 crore for technology upgrades and restructuring as part of the ₹1.28 lakh crore allocated for telecom projects in the 2024-25 Union Budget.
Nykaa’s subsidiary, Nykaa E-Retail, will raise Rs 125 crore through non-convertible debentures (NCDs) from a foreign portfolio investor, according to a stock exchange filing.
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Benchmark indexes began the day lower and finished flat, extending their losing streak to five sessions due to negative global cues. US futures are trading slightly lower.
Brent Crude: 80.57 -1.40%
USD INR Spot: 83.7075 0.01%.
India 10Y Bond yield: 7.076 1.61%
Nifty 50 heat map.
More stats at: technicals.zerodha.com
Amongst the F&O stocks
United Breweries was the top gainer.
Axis Bank was the top loser.
News
The Indian government may ease investment restrictions on certain Chinese firms to boost domestic manufacturing in sectors like solar modules and critical minerals. The Ministry of Commerce and Industry and security-related departments are examining the issue.
CG Power and Industrial Solutions will acquire a 55% stake in GG Tronics for Rs 319 crore, with the deal expected to close by August 23, 2024.
Piramal Capital & Housing Finance plans to increase its global borrowing to 10-12% in 2-3 years, up from 4%, after raising $300 million through its first dollar-denominated bond.
The budget’s customs duty cut has sparked a rush at jewellery stores, with consumers hurrying to buy gold ahead of the wedding season, fearing a rollback amid surging demand.
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Nifty and Sensex broke their five-day losing streak, gaining over 1.5% driven by buying in IT stocks. US futures are also trading higher.
Brent Crude: 81.55 -1.00%
USD INR Spot: 83.7272 0.02%.
India 10Y Bond yield: 7.055 1.48%
Nifty 50 heat map.
More stats at: technicals.zerodha.com
Amongst the F&O stocks
Divi’s Laboratories was the top gainer.
Federal Bank was the top loser.
News
Foxconn is considering assembling Apple’s flagship iPad tablets in India, potentially at its Sriperumbudur factory in Tamil Nadu, expanding beyond its current focus on iPhones.
Bajaj Auto plans to expand its electric three-wheeler portfolio, which currently makes up 10% of its three-wheeler business, and is sold in 140 cities, mainly in northern and northeastern India, the Hindu Businessline reported.
Tata Power Solar Systems has partnered with Bank of India to offer financing for rooftop solar installations and EV charging stations, marking the first such collaboration by BOI in the green energy sector.
Mankind Pharma has agreed to buy Bharat Serums and Vaccines from Advent International for around Rs 14,000 crore ($1.67 billion), with the transaction expected to close within three to four months pending regulatory approvals.
IndiGo has been fined USD 5,832.60 by US Customs for delayed immigration user fee payment and is seeking a penalty waiver.
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