Weekly Trading Diary: 22nd to 26th August 2022

[Tradingqna]

A thread for discussing your trades, strategies, ideas, news, stories, etc.

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A look at market performance in the week ended 19th August;

Benchmark indices fell by over 1 percent from weekly highs on Friday to close marginally higher, with Sensex and Nifty gaining around 0.3% each.

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Here’s how the sectoral indices fared over the previous week;

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A look at the performance of major global indices in the week ended 19th August;

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Things to watch out for in the coming week;

Key macroeconomic events to watch for;

	22nd August		23rd August		24th August		25th August		26th August
		Eurozone	Manufacturing PMI (AUG)	US	Home Sales (JUL)	Eurozone	ECB Monetary Policy Meeting Accounts
			Services PMI (AUG)		Crude Oil Inventories	US	GDP Growth (Q2)
			Composite PMI (AUG)				Jobless Claims
		US	Manufacturing PMI (AUG)
			Services PMI (AUG)
			Composite PMI (AUG)

So, what are you looking forward to in the coming week? Share below and join the discussion

[Tradingqna]

Nifty and Sensex plunged around 1.5%, continuing the downward trend fueled by weak global cues due to the US Fed’s hawkish views on inflation risks. US futures too are trading lower.

Brent Crude: 96.61 0.89%
USD INR Spot: 79.8675 0.12%
India 10Y Bond yield: 7.267 0.04%

A look at Nifty 50 market breadth for the day.

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Dr. Lal PathLabs was the top gainer.

Trent was the top loser.

In the news

Adani Power closed at upper circuit in an otherwise weak market, after the company announced the acquisition of the thermal power assets of DB Power for the enterprise value of nearly Rs. 7,017 crore.

The hydrocarbon-onshore division of L&T’s energy business has secured a large contract ranging between Rs 2500 to 5000 crore from Indian Oil Corporation.

The demand for residential rental houses in top seven cities in India has increased by 10-20% in 2022 as compared to the pre-pandemic period in 2019. According to a report by the ANAROCK Group, The rise in demand can be attributed to people returning from their hometowns, as several companies have started calling their employees to the office.

USDINR slipped to a four-week low on the back of the Euro being weighed down by concern that a three-day halt to European gas supplies and the Chinese Yuan slipping to 6.8621 to the Dollar after the country’s central bank cut key lending rates.

[Tradingqna]

Benchmark indices recovered from the early morning lows to close in green. With both Nifty and Sensex ending up by around half a percent. US markets look set for a muted opening.

Brent Crude: 97.96 1.46%
USD INR Spot: 79.8625 -0.01%
India 10Y Bond yield: 7.281 0.15%

A look at Nifty 50 market breadth for the day.

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

NMDC was the top gainer.

Mphasis was the top loser.

In the news

The India Energy Storage Alliance (IESA) predicts that between 2021 and 2030, the country’s market for electric vehicles will grow at a compound annual growth rate of 49%, with annual sales surpassing 17 million by 2030.

RBL Bank surged 6% after it received approval from the board for raising up to Rs. 3,000 crores to fund business growth.

The Central Bank of Indonesia unexpectedly hiked the policy rate by 25 bps today in anticipation of a planned increase in the price of subsidized fuel. The central bank expects growth to settle at the top end of their 4.5 - 5.3% YOY forecast while headline inflation is forecast to exceed 5%.

Oil spiked up more than 3% from its lows after Saudi Arabia said OPEC+ may be forced to cut production to stabilize a volatile market.

[yolotrader]

FM press conference - any idea what it is about?

[Tradingqna]

Nifty and Sensex closed marginally higher in a volatile session. US futures are trading marginally lower, signaling muted opening for US markets.

Brent Crude: 101.37 +1.28%

USD INR Spot: 79.8075 -0.07%

India 10Y Bond yield: 7.287 +0.08%

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Nifty 50 market breadth for the day;

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Sectoral performance.

More stats at: stocks.zerodha.com

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Amongst the F&O stocks

RBL Bank was the top gainer, surging over 15%.

Lupin was the top loser, down by over 2.9%.

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In the news

Adani Group acquired 29.18% stake in television channel NDTV and said it will launch an open offer as required by the SEBI to buy another 26% in the company.

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Revenue of India’s top 17 states, which account for 85-90% of aggregate gross state domestic product, is likely to grow at a moderate pace of 7-9% in FY23, after surging 25% last year, as per CRISIL report.

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Inflation in South Africa surged at the fastest pace since 2009 at 7.8% in July compared to 7.4% in June due to rising underlying price pressures.

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Indonesia on Wednesday extended its policy of not collecting levies for palm oil exports to October 31, as per trade minister Zulkifli Hasan.

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Prices of brent oil surged back over $100 per barrel after Saudi Arabia suggested that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn.

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[Tradingqna]

Benchmark indices plunged in the final trading hour, failing to hold gains and ending the volatile session 0.5% lower. Dow and Nasdaq futures indicate a positive start for US markets.

Brent Crude: 101.82 +0.13%
USD INR Spot: 79.88 +0.09%
India 10Y Bond yield: 7.295 0.12%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

BHEL was the top gainer, surging 7.7%.

Coromandel International was the top loser, down by 4.37%

In the news

Hero Electric and Jio-bp will partner to improve mobility options for electric two-wheelers. As a result of this proposed deal, Hero Electric customers are likely to receive access to Jio-extensive bp’s charging and swapping network.

The government on Thursday decided to put restrictions on the export of wheat flour to curb rising prices of the commodity and ensure food security for the most vulnerable sections of society an official statement by the Ministry of Commerce & Industry said.

Telecom operators won’t require permission from authorities to install cell towers or poles or lay wires over private properties, according to recently announced Right of Way Rules from the government.

Singapore Telecommunications (Singtel) sells a 3.33% stake in Bharti Airtel to Bharti Telecom (BTL) – the promoter company of Bharti Airtel for $1.61 billion approx. Post-the sale, Singtel’s effective holding in Bharti Airtel is expected to be at 29.7%.

Google blocked 2,000 personal loan providers from Playstore after they were found to be in breach of its policies. The company says it is working with Indian government agencies and other stakeholders to filter out unethical players.

Germany’s GDP grew by 0.1% QoQ and 1.8% YoY in the second quarter, beating expectations for stagnation in the three months to June, propped up by household and government spending.

[Tradingqna]

Benchmark indices slid from their day’s highs and closed marginally higher ahead of a key speech by US Fed Chair Jerome Powell later today. US futures too are trading lower.

Brent Crude: 100.16 +0.83%
USD INR Spot: 79.801 -0.07%
India 10Y Bond yield: 7.217 -1.03%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

CHAMBLFERT was the top gainer.

Eicher Motors was the top loser.

In the news

Sequoia Capital India sold 171.9 crore shares, or a 2.01% stake in the company as per a filing made before the stock exchanges by Zomato. Reducing its initial shareholding from 6.41% to 4.4%.

India and Russia are in talks to resume gas shipments as per long-term import agreement between Gazprom and GAIL Ltd. The company has not received the agreed-upon imports since May, forcing it to reduce supplies to clients. GAIL Chairman Manoj Jain stated at the annual shareholder meeting.

KKR is in talks to invest $400 million in Hero Group’s renewable energy unit Hero Future Energies, marking the US private equity firm’s single largest investment in India’s clean energy industry to date.

According to the Employees’ Provident Fund Organization’s recent payroll data, over a million people joined the formal workforce for the third month in a row in June. New subscribers increased marginally to 1,054,261 in June from 1,007,441 in May and 1,009,689 in April.

Indian investors and businesses spent more on overseas mergers and acquisitions by the end of August than they had in the entire year 2021. The $7.6 billion in outbound M&As represents the 3rd straight year of rising deal value. Health care was the biggest target for outbound deals: Refinitiv Report

S&P Global Ratings raised its inflation projection for 2022–2023 by 0.50% to 6.8% due to higher commodity costs, rising interest rates, and currency volatility, but said that India has sufficient foreign exchange reserves to sustain pressure on creditworthiness.