Weekly trading diary: 31st July to 4th August 2023

Tradingqna · July 30, 2023, 3:02pm

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

A quick look at how the markets fared in the week ended July 28:

Things to look forward to in the coming week

Earnings

31st July	1st August	2nd August	3rd August	4th August	5th August
UPL Limited	Cholamandalam Investment and Finance	Ambuja Cements Limited	Adani Enterprises Limited	BHEL	Balrampur Chini Mills Limited
Petronet LNG Limited	Escorts Kubota Limited	Adani Wilmar Limited	Adani Power Limited	Britannia Industries Limited	Bank of Baroda
Oberoi Realty Limited		HPCL	Bharti Airtel Limited	Delhivery Limited
Maruti Suzuki India Limited		InterGlobe Aviation Limited	Dabur India Limited	State Bank of India
Bosch Limited		Titan Company Limited	Eicher Motors Limited
			LIC Housing Finance Limited
			MRF Limited
			Sun Pharmaceutical Industries Limited
			Zomato Limited

Macroeconomic events

	31st July		1st August		2nd August		3rd August		4th August
Japan	Industrial Production (June)	India	Manufacturing PMI (July)	US	Nonfarm Employment	India	Services PMI (July	US	Unemployment Rate (July)
Eurozone	CPI Inflation (July)	US	ISM Manufacturing PMI (July)		Crude Oil Inventories		Composite PMI (July)		Nonfarm payrolls (July)
	GDP Growth (Q2 CY23)					Eurozone	Composite PMI (July)
						UK	BoE Interest Rate Decision
						US	Jobless Claims
							Services PMI (July)
							Composite PMI (July)

Priyank_Mehta · July 30, 2023, 5:45pm

Team there’s a typo in the title, it should be 31 July

Thanks for the valuable information as always

Also a suggestion, can we show the breadth in terms of % of the total basket than absolute numbers?

Meher_Smaran · July 30, 2023, 5:49pm

Thanks, @Priyank_Mehta

Tradingqna · July 31, 2023, 12:43pm

Nifty and Sensex finished over half a percent higher, snapping a two-day losing streak. Dow and Nasdaq futures are trading higher.

Brent Crude: 85.19 0.92%
USD INR Spot: 82.2481 0.02%.
India 10Y Bond yield: 7.185 0.34%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Hindustan Copper was the top gainer.

Piramal Enterprises was the top loser.

Earnings Update:

UPL: Net Profit: Rs. 166 cr 81% YoY; Revenue: Rs. 8963 cr 32% YoY.

Petronet LNG: Net Profit: Rs. 789.85 cr 12.6% YoY; Revenue: Rs.11,656.05 cr 18.28% YoY.

Maruti Suzuki India: Net Profit: Rs. 2485.1 cr 145.3% YoY; Revenue: Rs. 30,845.2 cr 21.89% YoY.

News

Bharti Airtel prepaid Rs 8,024 crore to the Department of Telecom, clearing most of its dues from the 2015 auction. This saves on interest costs and boosts cash flows as it plans to launch 5G services nationwide by December.

India’s forex reserves dropped to USD 607.035 billion for the week ending July 21, down by USD 1.987 billion. In the previous week, reserves had increased by USD 12.743 billion, reaching USD 609.022 billion, the second-largest rise in seven days.

Oil prices are set for their largest monthly gains in over a year, as Saudi Arabia is expected to extend output cuts into September, tightening global supply. Brent crude at $85.33 a barrel, and WTI crude at $81.12 a barrel.

Eurozone July CPI slowed to 5.3% yoy from 5.5% in June, matching expectations. Core CPI remained at 5.5% yoy, above the 5.4% yoy expectation. Food, alcohol & tobacco were highest at 10.8%, services at 5.6%, non-energy industrial goods at 5.0%, and energy at -6.1%.

Tradingqna · August 1, 2023, 1:10pm

Benchmark indexes fell from their highs for the day, ending the volatile session marginally lower. Futures on Dow and Nasdaq indicate a negative start for US markets.

Brent Crude: 85.11 -0.37%
USD INR Spot: 82.2833 0.043%.
India 10Y Bond yield: 7.16 -0.17%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Hindustan Copper was the top gainer.

Power Grid Corporation of India was the top loser.

Earnings Update:

Adani Total Gas: Net Profit: Rs. 150 cr 8.5% YoY; Revenue: Rs.1056 cr 1.3% YoY.

Escorts Kubota: Net Profit: Rs. 283 cr 93% YoY; Revenue: Rs. 2328 cr 15.5% YoY.

GMDC: Net Profit: Rs. 218.7 cr 51.7% YoY; Revenue: Rs. 765.6 cr 19.6% YoY.

PVR: Net Loss: Rs. 81.6 cr against loss of 330 cr YoY; Revenue: Rs. 1305 cr 14.1% YoY.

News

The GST collection for July was Rs 1,65,105 crore, an increase of 11% year on year. The Central GST is Rs 29,773 crore, State GST is Rs 37,623 crore, Integrated GST is Rs 85,930 crore (incl. Rs 41,239 crore from imports), and the cess is Rs 11,779 crore.

Hero MotoCorp fell 6.5% from its highs before closing down 3.24% following reports that the ED raided the home of Hero MotoCorp Chairman and MD Pawan Munjal in connection with a Revenue Intelligence (DRI) case.

Hindustan Copper soared 7%, rallying 17% in two days following the change in management at the Khetri copper complex.

The central government raised the windfall tax on domestically produced crude petroleum to Rs 4250/tonne (from Rs 1600/tonne) due to the recent rise in oil prices. Additionally, it introduced a duty of Rs one per litre on diesel exports, which was previously exempt.

The World Gold Council (WGC) recently released data showing that India’s demand for gold dropped 7% YoY to 158.1 tonnes due to high gold prices and a reactionary response to the ban on Rs 2,000 notes.

Maruti Suzuki announced along with its result that it would terminate its contract manufacturing agreement with Suzuki Motor Gujarat (SMG) and exercise the option to acquire the shares of SMG from parent Suzuki Motor Corp(SMC).

Akasa Air announced that it has added the 20th aircraft to its fleet, making it eligible to fly internationally.

Tradingqna · August 2, 2023, 12:47pm

Benchmark indexes fell more than 1%, dragged down by poor global cues triggered by weakness in US economic data. Dow and Nasdaq futures indicate a bad start for US markets.

Brent Crude: 85.36 0.53%
USD INR Spot: 82.5347 0.306%.
India 10Y Bond yield: 7.156 -0.01%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Indiabulls Housing Finance was the top gainer.

Piramal Enterprises was the top loser.

Earnings Update:

AB Capital: Net Profit: Rs. 665.7 cr 55% YoY; Revenue: Rs. 7045 cr 26% YoY.

Indigo: Net Profit: Rs. 3090.7 cr against loss of 1064 cr YoY; Revenue: Rs. 16,683 cr 29.8% YoY.

Titan: Net Profit: Rs. 777 cr 2% YoY; Revenue: Rs.11,145 cr 24.4% YoY.

News

India’s edible oil imports hit a record 1.76 million tonnes in July due to festival stockpiling amid Black Sea supply uncertainty. Average monthly imports for 2021/22 were 1.17 million tonnes, as per Solvent Extractors’ Association of India. June saw 1.3 million tonnes imported.

Lupin announced its US subsidiary gets FDA nod to sell the generic skin treatment product Fluocinolone Acetonide Topical Oil. The product recorded $9 million in annual sales as of March 2023.

India’s overall unemployment rate declined to 7.95% in July, with rural unemployment at 7.89% and urban unemployment at 8.06%, according to the Centre for Monitoring Indian Economy. The drop was attributed to rising demand for agricultural labor during the monsoon season.

Global equity markets fell on the news that Fitch Ratings has downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA mainly citing fiscal deterioration and a growing general debt burden.

Tradingqna · August 3, 2023, 1:41pm

Nifty and Sensex tumbled for the third day in a row, losing over 0.7%, following weak trends in global markets. US futures are trading lower.

Brent Crude: 83.06 -0.17%
USD INR Spot: 82.7171 0.221%.
India 10Y Bond yield: 7.2 0.64%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Indiabulls Housing Finance was the top gainer.

Vedanta was the top loser.

Earnings Update:

Adani Power: Net Profit: Rs.8759 cr 83% YoY; Revenue: Rs. 11,006 cr 19.8% YoY.

Adani Enterprises: Net Profit: Rs.674 cr 44% YoY; Revenue: Rs. 25,438 cr 38% YoY.

Cummins: Net Profit: Rs. 315.7 cr 58.6% YoY; Revenue: Rs. 2208.7 cr 30.9% YoY.

Dabur: Net Profit: Rs. 456.6 cr 3.5% YoY; Revenue: Rs. 3130.5 cr 11% YoY.

Radico Khaitan: Net Profit: Rs. 68.3 cr 10.2% YoY; Revenue: Rs. 953.9 cr 26.4% YoY.

Zomato: Net Profit: Rs. 2 cr against loss of 186 cr YoY; Revenue: Rs. 2416 cr 71% YoY.

News

Vedanta Ltd fell 7% after the promoter entity announced the sale of a 4.3% stake in the company for Rs 258.5 per share.

Shares of consumer electronics manufacturers rose 5-9% after the central government restricted imports of laptops, tablets, and personal computers in order to boost domestic production.

Ambuja Cements announced the plan to acquire 56.74% of Gujarat-based cement producer Sanghi Industries (SIL) for Rs 114.22 per share, valuing the company at Rs 5,000 crore.

Gaming companies dropped after the GST Council decided to keep the 28% tax on online gaming, casinos, and horse racing. The 28% tax will go into effect on October 1, 2023, and the Council will meet again six months after that date to review the taxation.

Morgan Stanley upgraded its rating on Indian markets to “overweight” from “equal weight,” citing lower valuations as compared to October 2022, while decreasing its rating on China to equal weight.

According to S&P Global data, India’s services PMI increased dramatically to a 13-year high of 62.3 in July from 58.5 in June, remaining above 50 for 24 months in a row.