Weekly trading diary: 29th January to 2nd February 2024

Tradingqna · January 28, 2024, 3:08pm

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

A quick look at how the markets performed in the week gone by

Things to look forward to

Earnings

29th January	30th January	31st January	1st February	2nd February
Bajaj Finance	Bajaj Finserv	Amara Raja Energy & Mobility	Adani Enterprises	LIC Housing Finance
BPCL	Coromandel International	Ambuja Cements	Adani Ports & SEZ	Tata Motors
BEL	Dr. Reddy’s	Bank of Baroda	Bata India	Torrent Pharma
GAIL	Gillette India	Dabur India	Castrol India	UPL Ltd.
Vodafone Idea	L&T Limited	GMR Airports and Infra	India Cements	InterGlobe Aviation
ITC	M&M Financial Services	IDFC Ltd.	MphasiS Ltd.	Delhivery
Marico	SRF Ltd.	Jindal Steel & Power	Titan Ltd.	SBI
NTPC	PB Fintech	Maruti Suzuki	Dr. Lal Pathlabs
Piramal Enterprises	Piramal Pharma	PVR Inox
Petronet LNG	Adani Total Gas	Shree Cements
Nippon AMC	Star Health Insurance	Sun Pharma
		Adani Wilmar

Economic events

	30th January		31st January		1st February
Eurozone	GDP Growth (Q4 CY23)	India	Industrial Output	India	Union Budget
US	Consumer Confidence (JAN)	Japan	Industrial Production		Manufacturing PMI (JAN)
			Retail Sales	Japan	Manufacturing PMI (JAN)
		US	Fed Interest Rate Decision	China	Manufacturing PMI (JAN)
			Crude Oil Inventories	Eurozone	CPI Inflation (JAN)
					Unemployment Rate (DEC)
				UK	BoE Interest Rate Decision
				US	Jobless Claims
					Manufacturing PMI (JAN)
					Manufacturing Employment (JAN)
					Non-farm Payrolls (JAN)
					Unemployment Rate (JAN)

Tradingqna · January 30, 2024, 1:22pm

Benchmark indexes erased intraday gains and retreated from the day’s high to conclude the day in negative territory. Dow and Nasdaq futures are trading higher.

Brent Crude: 81.27 -0.68%
USD INR Spot: 83.119 -0.02%.
India 10Y Bond yield: 7.158 -0.18%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Zee Entertainment Enterprises was the top gainer.

Coromandel International was the top loser.

News

Adani group entities bought shares worth Rs 32,480.6 crore ($3.94 billion) in 2023 in flagship firms like Adani Enterprises, Adani Ports, Adani Green Energy, and Adani Energy Solutions, exceeding the Rs 23,551 crore ($2.85 billion) they sold, as per stock exchange data.

HDFC Bank plans to progressively reduce its stake in its subsidiary HDB Financial Services. HDB Financial, with an Rs 84,000 crore loan book, caters primarily to first-time borrowers and underserved segments, and HDFC Bank holds a 94.7 percent stake in the firm.

India aims for 7% growth in 2024-25, with momentum building thanks to a robust financial sector and reforms. Key reform priorities are education, health, energy security, small business compliance, and gender balance in the labor market, per the finance ministry’s economic division.

Vodafone Idea’s Q3 net loss narrowed to Rs 6,989 crore due to exceptional gains and lower costs. Operating income reached an 11-quarter high, driven by 4G user growth and a 2.1% ARPU increase to Rs 145, attributed to entry-level plan changes and subscriber upgrades, according to Vi’s earnings statement.

Tradingqna · February 1, 2024, 1:37pm

Benchmark indexes erased intraday gains to conclude the day marginally lower following the interim budget announcement. US futures are trading higher.

Brent Crude: 81.36 1.02%
USD INR Spot: 82.9553 -0.21%.
India 10Y Bond yield: 7.064 -1.12%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Godrej Consumer Products was the top gainer.

India Cements was the top loser.

News

The budget highlighted fiscal consolidation, infrastructure, agriculture, green projects, and railways. No tax rate changes were introduced. Fiscal Deficit target for FY25: 5.1%, revised FY24 target: 5.8%, FY25 capex target increased by 11.1% to ₹11.1 lakh crore.

Infosys announces a seven-year strategic partnership with Irish food retail company Musgrave to automate IT operations using AI and cloud solutions via Infosys Topaz and Cobalt.

TCS secures a 15-year deal from Aviva, a UK insurance and wealth provider, to transform its UK Life business and enhance customer experience using the TCS Bancs platform.

India’s crude oil imports from Russia declined for the second consecutive month in January due to Western sanctions, with increased imports from Iraq to compensate for the drop in Russian supply.

Glenmark Pharmaceuticals and Pfizer have partnered to launch Abrocitinib, an oral treatment for moderate-to-severe atopic dermatitis (AD), in India.

Paytm shares plummeted 20% after RBI imposed severe restrictions on its lending operations, including discontinuation of new deposits and credit transactions post-February 29.