Weekly Trading Diary: 27th to 31st March 2023

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;

27th March 28th March 29th March 30th March 31st March
US Consumer Confidence (MAR) US Crude Oil Inventories US GDP Growth (Q4CY22) India Infrastructure Output
Pending Home Sales (FEB) Jobless Claims Japan Retail Sales (FEB)
Industrial Production (FEB)
China Manufacturing PMI (MAR)
Non-Manufacturing PMI (MAR)
Chinese Composite PMMI (MAR)
UK GDP Growth (Q4CY22)
Eurozone CPI Inflation (FEB)

Benchmark indices fell from day’s highs but managed to close marginally higher. Dow and Nasdaq futures point to a good start for US markets.

:oil_drum:Brent Crude: 75.47 1.32%
:heavy_dollar_sign:USD INR Spot: 82.3558 0.14%
:scroll:India 10Y Bond yield: 7.308 -0.14%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Biocon was the top gainer.

:chart_with_downwards_trend: Indian Energy Exchange was the top loser.

:newspaper: News

The board of directors of HDFC approved plans to raise a further Rs 57,000 crore through the issuing of NCDs in numerous tranches ahead of the merger with HDFC Bank.

Life Insurance Corporation of India (LIC) intends to invest a record Rs 2.4 lakh crore in various markets, including domestic shares, in 2023-24. LIC may allocate up to Rs 85,000 crore, or 35% of the total investment, in shares of listed Indian companies.

Lupin Ltd’s generic valbenazine capsules received tentative USFDA approval to treat involuntary movements, with estimated annual sales of USD 1,235 million as per IQVIA MAT Dec 2022 data. Stock rose 3%.

According to the FDIC, First Citizens Bank & Trust Co will buy all of Silicon Valley Bank’s deposits and loans for $500 million.

Benchmark indices ended the choppy session marginally lower. Dow and Nasdaq futures indicate a mixed start for US markets.

:oil_drum:Brent Crude: 77.92 0.26%
:heavy_dollar_sign:USD INR Spot: 82.2068 -0.18%
:scroll:India 10Y Bond yield: 7.324 0.16%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Torrent Power was the top gainer.

:chart_with_downwards_trend: Adani Enterprises was the top loser.

:newspaper: News

The government allocated 39,600 MW of solar manufacturing to 11 firms for Rs 14,007 crore under the PLI scheme. Reliance, Waaree, ReNew, JSW, and Tata Power Solar are among the beneficiaries.

Mumbai’s residential property sales hit a 5-year high of 51,390 homes in 2022, despite a 250 bps rate hike, according to real estate analytics firm PropEquity.

Muthoot Finance intends to prepay $550 million of external commercial borrowings, which were raised in tranches under the Global Medium Term Notes Programme in 2020 and are due on September 02, 2023.

The Indian cabinet plans to implement the Kirit Parikh panel’s proposal to cap the price of most local gas at $6.50 per million British thermal units (mmBtu) from April, resulting in a 10-12% reduction in prices.

Alibaba will split into six business groups, enabling each to pursue its own fundraising and listing plans, with an aim to enhance market competitiveness and shareholder value.

Benchmark indexes ended the day higher, up more than 0.7%. Dow and Nasdaq futures point to a good start for US markets.

:oil_drum:Brent Crude: 78.69 0.43%
:heavy_dollar_sign:USD INR Spot: 82.3603 0.19%
:scroll:India 10Y Bond yield: 7.293 -0.38%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Adani Enterprises was the top gainer.

:chart_with_downwards_trend: Firstsource Solutions was the top loser.

:newspaper: News

South Indian Bank shares fell 13% after Murali Ramakrishnan refused re-appointment as MD & CEO of the company, citing family obligations as the reason for declining the offer.

ZEEL surged 5% to a 1-month high before closing at 3% after reaching a settlement with IndusInd Bank, seeking withdrawal of the objection to its merger deal with Sony Pictures.

L&T announced winning its 4th order in March after its Minerals & Metals (M&M) business secured two large orders from the Vedanta Group ranging between 2500-5000 crores.

While setting aside certain directions issued by the commission, The NCLAT upheld the penalty of Rs 1,337 crore imposed on Google by the Competition Commission of India (CCI).

Benchmark indices opened higher and climbed more than 1.7% following positive global signals. US futures are trading higher.

:oil_drum:Brent Crude: 78.9 0.55%
:heavy_dollar_sign:USD INR Spot: 82.2169 -0.17%
:scroll:India 10Y Bond yield: 7.316 0.27%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Bharat Electronics was the top gainer.

:chart_with_downwards_trend: Vedanta was the top loser.

:newspaper: News

Global mergers and acquisitions (M&A) activity hit a more than decade low in Q1 2023 due to rising interest rates, high inflation, and recession fears. Dealogic data shows Q1 volumes at $575.1bn, down 48% YoY. The US falling by 44%, Europe by 70%, and Asia Pacific by 29%.

Magicbricks’ PropIndex report shows a 14.2% YoY increase in housing demand and a 1.9% increase in supply in India for Q4. Residential demand rose 3.2% sequentially, led by Ahmedabad with 21.4%, Bengaluru with 10.3%, and Pune with 7% growth.

China’s official manufacturing PMI fell to 51.9 in March but growth in services and construction surged to a 12-year high, with the non-manufacturing PMI rising to 58.2, its highest level since May 2011.

Reliance Industries Ltd rose over 4% following its announcement that a meeting on May 2 will be held to approve the proposed demerger of Reliance Strategic Ventures, after which the subsidiary will be renamed Jio Financial Services.

Nestle India shares rose nearly 3% on March 31 after a report stated that Nestle SA is one of the final bidders for Capital Foods Pvt Ltd, the owner of the Ching’s Secret brand. The deal is expected to value the Indian firm at over $1 billion, according to Bloomberg.

Bharat Electronics’ stock surged 7.5% to Rs 98.3 on Friday after the company signed 12 contracts worth Rs 8,194 crore with India’s Ministry of Defence for the armed forces.

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