Weekly Trading Diary: 2nd April to 5th April 2024

[Tradingqna]

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

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Benchmark indices ended their three-day winning streak, closing slightly lower for the day, weighed down by losses in banking and IT stocks. US futures are trading lower.

Brent Crude: 88.70 1.46%
USD INR Spot: 83.411 0.05%.
India 10Y Bond yield: 7.116 0.91%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Aditya Birla Fashion and Retail was the top gainer.

Vodafone Idea was the top loser.

News

Aditya Birla Fashion and Retail share price surged 15% intraday on April 2 following the board’s decision to consider the demerger of its Madura Fashion & Lifestyle business into a separate listed entity.

India’s coal production reached 997.4 million tonnes in FY24, up 11.67% from FY23’s 893.19 million tonnes, narrowly missing the 1-billion-tonne goal, according to the coal ministry.

PepsiCo India announced a Rs 1,266 crore investment to establish a flavor manufacturing facility in Ujjain, Madhya Pradesh, with construction beginning in 2024 and operations starting in Q1 2026 as part of its expansion strategy.

Infosys Ltd was issued a tax demand of ₹341 crores for the assessment year 20-21 by India’s Income Tax Department, as per a company exchange filing on March 31, 2024.

[Tradingqna]

Nifty and Sensex dipped at the open due to global weakness, recouped losses, and ended nearly flat with slight declines. US futures are trading marginally lower.

Brent Crude: 89.62 0.80%
USD INR Spot: 83.420 0.01%.
India 10Y Bond yield: 7.103 -0.07%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Punjab National Bank was the top gainer.

Godrej Properties was the top loser.

News

Gold prices surged by Rs 830 to a record Rs 69,200 per 10 grams, driven by a global market rally, marking the second all-time high this week, up from Rs 68,370 in the previous session.

Vodafone Idea Ltd received shareholder approval to raise Rs 20,000 crore through equity and equity-linked securities, after the board agreed on the plan on February 27.

India’s mobile device production hit Rs 4.1 lakh crore ($49.16 billion) in 2023-24, up 17% yearly, with a potential extra Rs 5,000 crore, as per reports.

Domestic mutual funds invested a record Rs 45,120 crore in local stocks in March, over three times February’s total and the highest monthly investment ever, surpassing the previous record of Rs 30,300 crore in March 2020, Business Standard reported.

UltraTech Cement is set to invest Rs 32,400 crore in the next three years for expansion, targeting to raise its manufacturing capacity to around 200 million tons per year.

[Tradingqna]

Benchmark indices reached record highs today, driven by IT sector gains and anticipation of tomorrow’s RBI policy decision. Dow and Nasdaq futures are trading higher.

Brent Crude: 89.19 -0.18%
USD INR Spot: 83.436 -0.05%.
India 10Y Bond yield: 7.101 -0.04%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Bandhan Bank was the top gainer.

Dabur was the top loser.

News

Vedanta Ltd shares hit a 52-week high of ₹312.50, up by over 3%, after its board approved a ₹2,500 crore fundraising plan through non-convertible debentures on a private placement basis.

PFC announced a total dividend payment of ₹2,033 crore to the government for FY 2023-24, distributed in three installments: ₹554 crores, ₹832 crore, and ₹647 crore.

Indian Oil Corporation Ltd is discussing with Nuclear Power Corporation of India Ltd the possibility of using small modular reactors (SMRs) in its refineries for cleaner power, as part of a cost-effective approach to nuclear energy.

Federal Bank reported a 20% increase in gross advances to Rs 2.13 lakh crore by March 31, 2024, with retail and wholesale credit growing by 25% and 15%, respectively, maintaining a retail-to wholesale loan ratio of 56:44.

[Tradingqna]

Nifty and Sensex recovered from the day’s lows to close flat, following the RBI’s decision to keep the repo rate at 6.5%. Futures on Dow and Nasdaq are trading higher.

Brent Crude: 91.09 0.49%
USD INR Spot: 83.407 -0.03%.
India 10Y Bond yield: 7.117 0.32%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Indraprastha Gas was the top gainer.

Birlasoft was the top loser.

News

India’s foreign exchange reserves reached a new record of $645.6 billion in the week ending March 29, according to Reserve Bank of India data.

IndusInd Bank reported an 18% increase in advances, reaching Rs 3,42,857 crore in the March quarter, up from Rs 2,89,924 crore in the previous year’s fourth quarter, according to a regulatory filing.

Jindal Stainless announced plans to divest its entire 26% stake in Jindal Coke by September, having sold 4.87% for Rs 36.49 crore to JSL Overseas in the first tranche, as per a regulatory filing.

Tesla Motors plans to scout locations in India, including Maharashtra, Gujarat, and Tamil Nadu, for a $2-3 billion electric car plant, focusing on states with port facilities for easier exports, as reported by the Business Standard.