Weekly Trading Diary: 30th September to 04th October 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 saw a sharp selloff, declining 1.5%, driven by selling in heavy-weight stocks amid rising geopolitical risks in the Middle East. Dow and Nasdaq futures are also trading lower.

Brent Crude: 71.22 -0.45%
USD INR Spot: 83.792 0.09%.
India 10Y Bond yield: 6.864 1.55%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

NMDC was the top gainer.

Hero Motocorp was the top loser.

News

Adani New Industries, with a 25% stake held by France’s TotalEnergies, is setting up facilities in Mundra, Gujarat to produce solar glass, aluminium frames, and back sheets. The goal is to build a supply chain supporting its solar cell and module manufacturing.

Tyre manufacturers are facing challenges due to a 33% surge in rubber prices over the past five months, driven by supply constraints and rising costs of natural rubber, according to a CRISIL report quoted by ANI.

Axis Bank has extended a ₹1 billion loan guarantee to Muthoot Capital, in partnership with GuarantCo, to support lending for electric two-wheeler purchases in rural and non-metro regions of India.

Smartphones have become India’s top export to the US by value, surpassing non-industrial diamonds. In the June quarter, smartphone exports reached $2 billion, compared to $1.44 billion for diamonds: Commerce Ministry.

[Tradingqna]

Benchmark indexes struggled to maintain early gains and closed flat in a choppy session. Dow and Nasdaq futures are trading marginally lower.

Brent Crude: 71.48 -0.31%
USD INR Spot: 83.826 0.01%.
India 10Y Bond yield: 6.845 1.41%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

National Aluminium was the top gainer.

Muthoot Finance was the top loser.

News

Tata Motors Ltd reported a 15% decline in total domestic sales, with 69,694 units sold in September compared to 82,023 units a year ago. Total passenger vehicle sales, including electric vehicles, fell 8% to 41,063 units from 44,809 units in September 2023.

Rail Vikas Nigam Ltd (RVNL) has secured a ₹283.69 crore order from East Coast Railway, as stated in the company’s BSE filing on October 1. The order is expected to be completed within the next two years.

Piramal Pharma Solutions plans to invest $80 million (₹670 crore) to expand its Kentucky facility in the US, according to the Hindu Businessline. Several clients have committed to commercializing their products at the site following the expansion.

CarDekho plans to launch its initial public offering next year to raise $500 million, with IPO papers expected to be filed in March. Early investors like Peak XV, Google Capital, and Hillhouse Capital may profit from this share offering, aiming for a valuation of $2-2.5 billion.

[Tradingqna]

Benchmark indices fell more than 2%, marking the fourth straight session of losses amid rising geopolitical tensions between Israel and Iran. US futures are trading lower.

Brent Crude: 75.11 1.61%
USD INR Spot: 83.995 0.07%.
India 10Y Bond yield: 6.892 2.38%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Petronet LNG was the top gainer.

Hindustan Petroleum was the top loser.

News

Ola Electric’s market share dropped to 27.9% in September from 31.3% in August and 39.2% in July, amid intense competition. The company sold 23,965 units in September, down from 26,928 in August and 40,814 in July, while holding about 47% of the overall market in September 2023.

Emcure Pharmaceuticals has signed a royalty-free licensing agreement with Gilead Sciences Ireland to manufacture and supply generic lenacapavir, an essential HIV prevention and treatment medication.

NHPC Ltd plans to double its capacity to around 15,000 MW in the next 4-5 years, with 16 projects totalling 10,692 MW. This includes nine hydro projects (9,314 MW) and seven solar projects (1,378 MW), with eight hydro projects expected to be commissioned by FY29.

The Competition Commission of India (CCI) has approved Mankind Pharma’s ₹13,630-crore acquisition of Bharat Serums and Vaccines, involving 100% shareholding.

[Tradingqna]

Benchmark indices closed negative for the fifth consecutive session, driven by ongoing concerns over geopolitical tensions in the Middle East. US futures are trading marginally higher.

Brent Crude: 78.81 1.52%
USD INR Spot: 83.988 0.00%.
India 10Y Bond yield: 6.948 2.52%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Dr Lal Path Labs was the top gainer.

Mahindra & Mahindra Financial Services was the top loser.

News

India’s forex reserves reached a new record of $704.89 billion for the week ending Sept. 27, marking the sixth consecutive increase, RBI data showed Friday.

India’s services sector growth slowed in September, with the PMI dropping to 57.7 from 60.9 in August, partly due to lower export orders. This index, where values above 50 signify growth, also showed an overall slowdown, with the Composite Index falling to 58.3 from 60.7.

Paint stocks declined as rising crude oil prices, fueled by geopolitical tensions, drove up input costs for paint makers, impacting their margins.

Mahindra & Mahindra announced its entry into the electric small commercial segment with the launch of the ZEO, a sub-2-tonne electric vehicle, starting at ₹7.52 lakh. The “Zero Emission Option” model aims to support sustainable last-mile mobility.