Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.
Indian indices saw selling pressure on all five trading days of the week ended February 24, with both benchmark indices ending the week down by over 2.5% each.
On the sectoral front, all the major sectors ended the week in the red. Metal, Realty, Media and PSU Bank sectors being the top losers, dropping over 5% each.
Things to watch out for in the coming week;
Key macroeconomic events to watch out for during the week;
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27th February |
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28th February |
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1st March |
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2nd March |
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3rd March |
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Durable Goods Orders (JAN) |
India |
GDP Growth (Q3FY23) |
India |
Manufacturing PMI (FEB) |
Eurozone |
CPI Inflation (FEB) |
India |
Services PMI (FEB) |
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Pending Home Sales (JAN) |
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Manufacturing Output |
China |
Manufacturing PMI (FEB) |
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Unemployment Rate (JAN) |
Japan |
Services PMI (FEB) |
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Japan |
Industrial Production (JAN) |
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Chinese Compisite PMI (FEB) |
US |
Jobless Claims |
China |
Services PMI (FEB) |
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Non-Manufacturing PMI (FEB) |
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Eurozone |
Services PMI (FEB) |
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Eurozone |
Manufacturing PMI (FEB) |
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UK |
Services PMI (FEB) |
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UK |
Manufacturing PMI (FEB) |
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Composite PMI (FEB) |
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US |
Manufacturing PMI (FEB) |
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US |
Services PMI (FEB) |
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Crude Oil Inventories |
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Composite PMI (FEB) |
What are you looking forward to in the week? Share below and join the discussion 
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Banks look relatively stronger as IT now takes the leadership in weakness 
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Benchmark indexes declined for the eighth trading session, falling over 0.5% following poor global signals. US futures are trading higher, signaling a good start.
Brent Crude: 83.16 1.39%
USD INR Spot: 82.665 -0.21%
India 10Y Bond yield: 7.463 0.20%
Nifty 50 market breadth for the day;
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Adani Enterprises was the top gainer.
Vedanta was the top loser.
News
India’s passenger vehicle sales are expected to grow 9%-10% in FY2024, 20% above pre-pandemic levels due to strong demand and chip shortages easing. Higher incomes and pent-up demand for SUVs will boost domestic growth, while exports remain sluggish: Crisil’s Report.
India’s fiscal deficit for the 10 months to January was $144.19 billion, or 68% of annual estimates, as net tax collections grew to 16.89 trillion rupees while total spending was 31.68 trillion rupees.
The core sector growth rate in January increased to 7.8% YoY from 7% growth in December. This growth was driven by higher production levels in several sectors including fertilizers, coal, electricity, steel, natural gas, cement, and refinery products.
Benchmark bond rates in India reached a four-month high of 7.46% due to fears about tightened liquidity and increased government borrowing in 2023-24.
Benchmark indices rose by around 0.8% snapping their eight-day losing streak. Dow and Nasdaq futures indicate a positive opening for US markets.
USD INR Spot: 82.50 -0.2%
India 10Y Bond yield: 7.419 -0.51%
Brent Crude: 82.97 -0.14%
Nifty 50 market breadth for the day;
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Adani Enterprises was the top gainer.
TVS Motors was the top loser.
News
India’s manufacturing PMI for February came in at 55.3. Continuing robust growth in the manufacturing sector.
Domestic sales of petrol and diesel rose 12% and 13% YoY and 20% and 8% when compared to February 2020 due to increased mobility of people and goods in an expanding economy.
India’s unemployment rate rose to 7.45% in February from 7.14% MoM as the urban unemployment rate declined to 7.93% in February from 8.55% in the previous month, while the rural unemployment rate rose to 7.23% from 6.48%: CIME
The GST revenue collection in the month of February 2023 rose 12% YoY at Rs. 1,49,577 crore. GST revenues have remained over Rs. 1.4 lakh crore mark for the 12 straight months in a row…
China’s manufacturing PMI rose to 52.6 from 50.1 in January, touching the highest level in 11 years as the factory output stormed ahead as production increased across sectors after stringent Covid-19 curbs were lifted in December last year.
Nifty and Sensex started lower and slid over 0.8% following bearish cues in global markets. Dow and Nasdaq futures point to a mixed start for US markets.
USD INR Spot: 84.39 0.09%
India 10Y Bond yield: 82.529 0.12%
Brent Crude: 7.43 -0.05%
Nifty 50 market breadth for the day;
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Ambuja Cements was the top gainer.
Siemens was the top loser.
News
Reliance Industries, Tata Power, and JSW Energy are amongst the bidders for the $2.4 billion solar financial incentives offered by the government.
DreamFolks Services announced the acquisition of Vidsur Golf, a provider of golf privileges in India for aggregate cash consideration of Rs. 1.5 crore.
China has pledged to invest an additional $1.9 billion in the country’s largest chip maker Yangtze Memory Technologies.
Global manufacturing PMI increased to 50 in February from 49.1 in January. Indicating that the manufacturing conditions are stabilizing.
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Nifty and Sensex opened gap and surged over 1.5% each. US markets look set for a good opening.
USD INR Spot: 84.25 -0.59%
India 10Y Bond yield: 81.93 -0.51%
Brent Crude: 7.417 -0.17%
Nifty 50 market breadth for the day;
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Adani Enterprises was the top gainer.
Shree Cement was the top loser.
News
The Adani family trust sold a stake worth Rs. 15,446 crores in four group firms to GQG Partners, a US-based investment firm.
Tata Steel Mining signed an MoU with GAIL India to supply natural gas to its Odisha plant in an effort to decrease its carbon footprint.
India’s services PMI hit a 12-year high of 59.4 in February owing to strong demand and easing prices.
Foxconn plans to invest $700 million in India in a bid to boost its local production.
World Bank and India signed two loans of $500M each to support healthcare infrastructure. The financing of $1B will aid the Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission to enhance public healthcare across India.
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