Weekly Trading Diary: 3rd to 7th April 2023

Tradingqna · April 2, 2023, 3:08pm

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

Here’s how the markets fared in week ended March 31;

Things to watch out for in the coming week;

###IPOs

The IPO of Avalon Technologies will open for subscription on the 3rd of April and will close on the 6th of April. Priced between Rs. 415 – 436, the company aims to raise Rs. 865 crores. You can check all the details of the IPO here: Everything you need to know about the Avalon Technologies Limited IPO

Macroeconomic events

	3rd April		5th April		6th April
India	S&P Global Manufacturing PMI (MAR)	India	S&P Global Services PMI (MAR)	India	RBI Monetary Policy Meeting
China	Ciaxin Manufacturing PMI (MAR)	Japan	Services PMI (MAR)	China	Ciaxin Services PMI (MAR)
Eurozone	Manufacturing PMI (MAR)	UK	Composite PMI (MAR)		Ciaxin Composite PMI (MAR)
US	ISM Manufacturing PMI (MAR)		Services PMI (MAR)	US	Jobless Claims
		US	Services PMI (MAR)
			S&P Global Composite PMI (MAR)
			ISM Non-manufacturing PMI (MAR)
			Crude Oil Inventories

YS_Bhargav · April 3, 2023, 4:02am

Next big trigger for market this week

Tradingqna · April 3, 2023, 1:32pm

Benchmark indices recovered from the day’s low and ended slightly higher in a choppy session. US markets look set for a mixed start.

Brent Crude: 84.89 6.47%
USD INR Spot: 82.3867 0.21%
India 10Y Bond yield: 7.313 -0.03%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

GMR Airports Infrastructure was the top gainer.

Mahanagar Gas was the top loser.

News

Brent crude rose 6% after Saudi Arabia and other OPEC+ producers announced a sudden reduction in oil production of around 1.16 million barrels per day.

NTPC rose 1.5% after the company recorded its highest-ever power generation of 400 BU in FY23 with 11% YoY growth, 65% YoY growth in its captive coal production at 23.2 MMT (million metric tonnes), and 24% growth in the non-fossil portfolio.

JPMorgan’s underweight rating with a 44% downside target caused KPIT Technologies to nosedive 17% and close down 12%. The rating was attributed to lower structural margins, high client concentration, risks from a single vertical, and excessive valuation.

The National Pharmaceutical Pricing Authority (NPPA) announced via tweet that the cost of 651 essential medicines has come down by an average of 6.73% from April after the government capped the ceiling prices of a majority of the scheduled drugs.

UPI registered its highest ever transactions count in March with 8.7 billion transactions being processed on the platform growing at over 60% and 46% higher in volume and value terms YoY.

According to Prime Database figures, funding by REITs and InvITs reached an all-time low of Rs 1,166 crore in 2022-23 due to higher bond yields and a lack of new launches.

GST revenues in March 2023 hit the second-highest monthly collection at ₹1.6 lakh crore, growing 13% YoY. For 2022-23, Gross GST collections surged 22% to reach ₹18.1 lakh crore, with an average gross monthly collection of around ₹1.51 lakh crore.

Tradingqna · April 5, 2023, 1:06pm

Nifty and Sensex rose for the fourth trading session, gaining nearly 1%. US futures are trading lower.

Brent Crude: 84.86 -0.39%
USD INR Spot: 82.1892 -0.24%
India 10Y Bond yield: 7.275 -0.55%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

L&T Technology Services was the top gainer.

Ashok Leyland was the top loser.

News

Indian steel exports of finished steel fell to a five-year low of 6.7 million tonnes in FY23, down 50.2% YoY, as global demand slowed and an export tax hampered shipments

The Central government has slashed the windfall tax on crude oil production to zero from Rs. 3,500 rupees per tonne and also cut the windfall tax on diesel to Rs. 0.5 per litre from Rs. 1 per litre earlier.

India’s March palm oil imports jumped 28% to 750,000 tonnes from an eight-month low in February, as discounts on the tropical oil prompted refiners to curb purchases of soy oil and sun oil: Reuters.

India’s services PMI reached a 12-year high in February but dropped to 57.8 in March from 59.4 in February, continuing in the growth zone for 20 straight months since August 2021.

L&T surged 4% after the company announced that it bagged a mega order which is worth more than Rs. 7,000 Crore for its hydrocarbon business.

HDFC twins were up nearly 3% after HDFC bank recorded robust loan growth for the March quarter, showing a growth of nearly 17% YoY and deposits showing a growth of 21% YoY.

Tradingqna · April 6, 2023, 1:11pm

Benchmark indices ended the day with marginal gains of 0.24% after the RBI kept policy rates unchanged. Futures on Dow and Nasdaq indicate a mixed opening for US markets.

Brent Crude: 85.34 0.67%
USD INR Spot: 81.9753 -0.26%
India 10Y Bond yield: 7.212 -0.84%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Indian Energy Exchange was the top gainer.

Dabur was the top loser.

News

RBI at its latest monetary policy meeting kept repo rate unchanged at 6.50%. RBI has so far hiked rates by 2.50% since May 2022.

The RBI increased India’s economic growth projection for the current fiscal year by a small margin, from 6.4% to 6.5% during the first bi-monthly monetary policy of the 2023-24 fiscal year.

Reliance Retail entered the beauty and personal care space with the launch of Tira, a retail platform that will offer a curated assortment of the best global and home-grown brands.

RBI Governor Shaktikanta Das announced the operation of pre-sanctioned credit lines at banks through UPI.

The Indian government will waive inter-state transmission system (ISTS) charges on renewable energy (RE) used for green hydrogen and derivatives until December 2055. This helps to reduce the cost of producing green hydrogen: Ministry of New and Renewable Energy.

General Insurance Premiums across the industry grew 12% YoY in March 2023 and 16% for FY 23 with the total premium for the general insurance industry growing to 2,56,920 crore from Rs. 2,20,800 crore a year ago.