Weekly trading diary: 29th May to 2nd June 2023

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 ended 26th May;






Things to watch out for in the coming week;

Corporate earnings

29th May 30th May
Adani Transmission Limited Adani Ports and Special Economic Zone Limited
IPCA Laboratories Limited Apollo Hospitals Enterprise Limited
IRCTC Indiabulls Real Estate Limited

Key macroeconomic events

29th May 30th May 31st May 1st Jun 2nd Jun
US Consumer Confidence (MAY) India GDP Growth (Q4FY23) Eurozone CPI Inflation (MAY) US Unemployment Rate (May)
Japan Industrial Production (APR) Manufacturing PMI (MAY)
China Manufacturing PMI (MAY) UK Manufacturing PMI (MAY)
Non-manufacturing PMI (MAY) US Manufacturing PMI (MAY)
Composite PMI (MAY) Jobless Claims
Crude oil inventories
3 Likes

Nifty and Sensex began with a gap up and finished with gains of over half a percent following positive global cues. Dow and Nasdaq futures are trading higher.

:oil_drum:Brent Crude: 76.65 -0.43%
:heavy_dollar_sign:USD INR Spot: 82.5497 -0.204%
:scroll:India 10Y Bond yield: 7.03 +0.39%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: ICICI Lombard General Insurance was the top gainer.

:chart_with_downwards_trend: City Union Bank was the top loser.

:newspaper: News

ONGC, led by Chairman Arun Kumar Singh, aims to invest Rs 1 lakh crore by 2030 in energy transition projects. The company is committed to achieving net zero carbon emissions by 2038 and will collaborate with other PSUs in this endeavor.

India regained its spot as the fifth-largest stock market globally, valued at $3.3 trillion. FII buying contributed to this resurgence, while France saw a market value drop of over $100 billion last week due to concerns over a China and US slowdown impacting luxury goods companies.

ICICI Lombard gained over 10% after the ICICI Bank board approved a plan to increase its shareholding in ICICI Lombard by 4%.

BBTCL, the holding company of the Wadia Group, has set aside ₹1,866 crores as provisions for its investments in Go Airlines and other financial obligations for FY23.

US President Joe Biden and House Speaker Kevin McCarthy have reached a final agreement to raise the nation’s debt ceiling until Jan. 1, 2025, averting a potential default. The agreement will now be presented to Congress for a vote.

2 Likes

Benchmark indexes maintained their positive trend for the fourth consecutive trading session, ending slightly higher. US markets look set for a mixed start.

:oil_drum:Brent Crude: 76.07 -1.34%
:heavy_dollar_sign:USD INR Spot: 82.7332 0.22%
:scroll:India 10Y Bond yield: 7.013 -0.16%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Aurobindo Pharma was the top gainer.

:chart_with_downwards_trend: Info Edge (India) was the top loser.

:newspaper: News

Gold prices hit a two-month low on Tuesday due to optimism over the debt ceiling deal and a hawkish Federal Reserve, suggesting no interest rate pause.

RBI governor Shaktikanta Das warns banks against aggressive growth and concealing loan status. Urging strong governance, he highlights lenders using innovative methods to hide loan status during supervision.

DGCA halts lessors’ requests to repossess planes from Go First airline due to bankruptcy process freeze, as per court filing.

Investigation finds false localization claims for nearly half of the electric two-wheelers sold under the government’s EV promotion scheme. Government reduces the official sales count from 989,000 to 564,000.

Apple requests concrete reasons or legal requirements to comply with the Indian government’s directive on betting app takedown. It doesn’t refuse to comply but emphasizes the need for specific grounds to remove apps.

2 Likes

Nifty and Sensex witnessed a drop of over half a percent, ending their four-day winning streak amid weak global cues. US futures too are trading lower.

:oil_drum:Brent Crude: 71.99 -2.33%
:heavy_dollar_sign:USD INR Spot: 82.6773 -0.07%
:scroll:India 10Y Bond yield: 6.989 -0.31%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: ABB was the top gainer.

:chart_with_downwards_trend: ONGC was the top loser.

:newspaper: News

India’s Q4 FY22-23 GDP grew by 6.1%, contributing to a full-year growth rate of 7.2% for FY23. The economy surpassed expectations, with services leading the way. GVA also saw a significant increase, growing by 6.5% compared to the previous quarter’s 4.7%.

Vedanta, as part of its deleveraging efforts, has successfully repaid $1.4 billion in bonds that were due in May and June. This repayment has contributed to reducing the company’s gross debt to $6.4 billion.

India’s FY23 fiscal deficit stands at 6.4% of GDP, meeting the government’s target. Buoyant tax receipts and fiscal headroom contributed to this achievement. The aim is to reduce the deficit to below 4.5% of GDP by 2025-26. The target for 2023-24 is to narrow the deficit to 5.9%.

China’s manufacturing PMI fell to 48.8 from 49.2 in April, reflecting weak global demand.

Brent crude sank 2% today after falling 4% yesterday, owing to a global slowdown following a string of negative data from Europe and China, along with uncertainty around the US debt ceiling resolution.

2 Likes

Benchmark indexes fell from the day’s highs closing the volatile session on a lower note. US markets look set for a muted opening.

:oil_drum:Brent Crude: 72.2 -0.55%
:heavy_dollar_sign:USD INR Spot: 82.4562 -0.34%
:scroll:India 10Y Bond yield: 6.979 -0.14%

Market breadth for Nifty 50

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

:chart_with_upwards_trend: Apollo Hospitals Enterprise was the top gainer.

:chart_with_downwards_trend: Coal India was the top loser.

:newspaper: News

Nifty Realty is at 16 months after rising by more than 25% in the previous two months due to a high pre-sales run rate and good launches owing to healthy demand.

India’s Manufacturing PMI surged to its highest level in 31 months, registering 58.7 in May compared to April’s 57.2. Strong demand and output, along with improved optimism, drove the fastest hiring rate in six months.

GST collection for May 2023 maintained its growth trajectory, reaching 1.57 lakh crore, representing a 12% annual increase.

Coal India fell 4.7% after the government launched a two-day offer-for-sale (OFS) to sell up to a 3% stake at a floor price of Rs 225.

Eurozone unemployment reached a record low of 6.5% in April, down from 6.6% in March, indicating the impact of tight labor markets. The youth unemployment rate achieved a new record low at 13.9%.

1 Like

Benchmark indices recovered from day’s lows and closed marginally lower in final trading session of the week. US futures are trading higher.

:heavy_dollar_sign:USD INR Spot: 82.3175 -0.168%
:scroll:India 10Y Bond yield: 6.982 +0.04%
:oil_drum:Brent Crude: 75.44 +1.56%

Nifty 50 market breadth

Sectoral performance. More stats at: http://stocks.zerodha.com

2023-06-02_18-00

Amongst the F&O stocks

:chart_with_upwards_trend: PFC was the top gainer.

:chart_with_downwards_trend: MGL was the top loser.

:newspaper: News

After the announcement of subsidy cuts, The domestic electric two-wheeler industry saw monthly sales cross the one lakh mark for the first time in May at 104,845 units growing at 57% MoM on fears of higher prices from June.

GAIL has infused Rs. 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals that it had acquired in bankruptcy proceedings.

Paras Defence and Space Technologies surged 7.5% after announcing a joint venture with Israeli company CONTROP Precision Technologies for manufacturing Electro Optic Infra Red systems in India.

Major Asian markets were up with Hang Seng index having the best day in 3 months going up by 4% on approval of a deal to raise the U.S. debt ceiling and avert a default and on reports that the Chinese government is considering a new set of measures to support the property market.

1 Like