Weekly Trading Diary: 24th September to 27th September 2024

[Tradingqna]

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

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Nifty crossed the 26,000 mark for the first time, while Sensex hit 85,000 before settling flat in a volatile session. Dow and Nasdaq futures are trading higher.

Brent Crude: 74.81 2.19%
USD INR Spot: 83.665 0.15%.
India 10Y Bond yield: 6.876 1.61%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

National Aluminium Company was the top gainer.

Indian Energy Exchange was the top loser.

News

Gold prices hit a record ₹76,911 per 10 gm, driven by global cues, anticipated US Fed rate cuts, and geopolitical tensions between Israel and Lebanon.

Inox Wind Limited (IWL) has signed a partnership agreement with 10 banks, led by ICICI Bank, securing credit facilities of around ₹2,200 crore, which may increase to ₹2,400 crore based on a working capital assessment.

India’s gems and jewellery exports fell by 18.79% to USD 2,012.51 million in August, down from USD 2,478.23 million last year, due to a global consumption slowdown and ongoing geopolitical tensions, according to GJEPC data.

REC Ltd raised $500 million through a five-year bond, priced 127 basis points above the US Treasury, which was trading at 3.51%, in a recently concluded transaction.

Funding for Indian startups dropped by 7% to $7.6 billion in the first nine months of 2024, compared to $8.2 billion last year. Funding rounds also fell to 1,036 from 1,579, as per Tracxn’s India Tech 9M 2024 report.

[Tradingqna]

Nifty and Sensex closed at new highs, with the Nifty crossing 26,000 for the first time, boosted by gains in banking and energy stocks. US futures are trading lower.

Brent Crude: 74.03 -0.59%
USD INR Spot: 83.589 -0.02%.
India 10Y Bond yield: 6.857 1.42%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Tata Communications was the top gainer.

Dabur was the top loser.

News

Foxconn is considering a $1 billion investment to set up a smartphone display module assembly unit in Tamil Nadu for Apple iPhones. This will reduce reliance on imports from China.

Thai energy firm Banpu is vying to acquire Eversource-backed Radiance Renewables, valued at $325 million, alongside Just Climate and CapitaLand Investment.

Aditya Birla Group’s renewable energy arm, Aditya Birla Renewables, raised ₹2,500 crore through non-convertible debentures, including a ₹500 crore green shoe option, under Grasim Industries.

Loans disbursed by digital lenders grew 27% year-on-year in value to ₹37,686 crore, while loan volumes increased 15% to over 2.64 crore, according to FACE data.

[Tradingqna]

Nifty and Sensex surged 0.8% in the final hours, closing at another all-time high, driven by gains in auto stocks. US futures are trading higher.

Brent Crude: 71.56 -1.84%
USD INR Spot: 83.65 0.03%.
India 10Y Bond yield: 6.828 1.34%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Vedanta was the top gainer.

Crompton was the top loser.

News

CDSL announced a uniform tariff of ₹3.50 per debit transaction, effective October 1, 2024, benefiting over 13 crore investors. Female demat account holders, as sole or first holders, will continue to receive a ₹0.25 discount per transaction.

IPOs worth over ₹50,000 crore are set to launch around Diwali, including Hyundai Motor India’s ₹25,000 crore offering, Swiggy’s ₹11,600 crore issue, and NTPC Green Energy’s ₹10,000 crore offer.

Piramal Pharma aims to double its revenue to $2 billion by 2029-30, with EBITDA expected to triple, according to Chairperson Nandini Piramal. The company also plans to reduce its net debt to EBITDA ratio from 2.9x to 1x by 2029-30.

CNG vehicle sales surged 46% between January and August, outpacing petrol hybrids, diesel hybrids, and electric cars, while petrol sales dropped 4.5% and diesel grew by 5%. CNG vehicles now account for roughly 30% of petrol vehicle sales.

India’s coal imports rose 0.9% to 90.51 million tonnes during April-July FY25, compared to 89.68mt in the same period last year. This growth follows a 10.18% rise in coal-based power generation in the first four months of FY25.

[Tradingqna]

Benchmark indexes hit new all-time highs before retreating, ending a two-day winning streak as investors stayed cautious ahead of key US inflation data.

Brent Crude: 71.17 0.14%
USD INR Spot: 83.7 0.08%.
India 10Y Bond yield: 6.869 2.25%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Balrampur Chini Mills was the top gainer.

PVR INOX was the top loser.

News

The Indian Steel Association (ISA) warned that increased US tariffs on Chinese steel imports could impact the Indian steel industry. This follows the US decision to impose a 25% tariff on Chinese steel.

NBCC (India) Ltd has secured a ₹75 crore contract to build additional infrastructure at the Indian Institute of Information Technology, Nagpur. The company announced this as a prestigious project.

Adani Green Energy Ltd (AGEL) announced a 50:50 joint venture with TotalEnergies, which invested USD 444 million for a 50% stake in AGEL’s solar projects in Khavda, Gujarat.

WeWork’s plan to sell its 27% stake in its Indian unit has collapsed, despite receiving approval from the Competition Commission of India. Embassy Group was also set to divest a 13% stake in WeWork India.

Swiggy’s early investors, including Accel and Prosus, plan to sell part of their stake in the company’s upcoming IPO. The listing will include a fresh equity issue worth ₹3,750 crore and an offer for sale of 185.3 million shares.

Jaguar Land Rover, owned by Tata Motors, will invest £500 million to upgrade its Halewood facility in England for electric vehicle production. The plant, already expanded with a £250 million investment, will also produce midsized electric luxury SUVs.