Weekly trading diary: 3rd to 7th July 2023

Tradingqna · July 2, 2023, 12:13pm

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

Things to watch out for in coming week

Macroeconomic events

	3rd July		4th July		5th July		6th July		7th July
India	Manufacturing PMI (June)	Japan	Services PMI (June)	India	Services PMI (June)	US	Services PMI (June)	US	Nonfarm payrolls (June)
China	Manufacturing PMI (June)			China	Services PMI (June)		Crude Oil Inventories		Unemployment rate (June)
Eurozone	Manufacturing PMI (June)			European	Services PMI (June)		Composite PMI (June)
UK	Manufacturing PMI (June)			UK	Services PMI (June)		Non-manufacturing PMI (June)
US	Manufacturing PMI (June)			US	FOMC Meeting Minutes

What are you looking forward to in the coming week? Join the discussion below

Tradingqna · July 3, 2023, 12:52pm

Nifty and Sensex finished at fresh highs, gaining more than 0.7% for the day following a strong bullish trend. Dow and Nasdaq futures are trading lower.

Brent Crude: 75.94 0.70%
USD INR Spot: 81.863 -0.219%
India 10Y Bond yield: 7.12 0.14%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

L&T Finance Holdings was the top gainer.

Persistent Systems was the top loser.

News

India’s manufacturing activity expanded strongly in June, driven by robust domestic and international demand. The PMI for manufacturing fell to 57.8 in June from 58.7 in May, but remained above 50 for two consecutive years, indicating continued growth.

India’s unemployment rate exceeded 8% for the third time this year, mainly due to seasonal joblessness in rural areas. The rate rose to 8.45% in June from 7.68% in the previous month, with rural India reaching a two-year high of 8.73%.

Zee Entertainment and IndusInd Bank have resolved dues, resulting in the disposal of the appeal by NCLAT. They are to pay the interim resolution professional’s cost, and the NCLAT has reversed the NCLT’s insolvency admission order for ZEEL.

India’s June gross GST revenue collection rose 12% YoY to Rs 1,61,497 crore, marking the fourth time exceeding Rs 1.6 lakh crore, the 16th consecutive month over Rs 1.4 lakh crore, and the seventh time surpassing Rs 1.5 lakh crore since GST’s inception.

June diesel sales dropped 3.7% YoY to 7.1 million tonnes, while petrol sales rose 3.4% to 2.9 million tonnes.

Bank investments in government securities surged by 15.2% YoY to Rs 57.83 lakh crore as of June 16, driven by attractive higher yields, as per RBI data.

Tradingqna · July 4, 2023, 1:38pm

Benchmark indexes closed at record highs for the fourth consecutive session, up around 0.35%.

Brent Crude: 75.7 1.41%
USD INR Spot: 81.9689 0.129%
India 10Y Bond yield: 7.119 0.03%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Bajaj Finance was the top gainer.

Eicher Motors was the top loser.

News

IDFC First Bank has approved the merger of IDFC Ltd and IDFC Financial Holding Company. In this merger, shareholders of IDFC Ltd will receive 155 shares of IDFC First Bank for every 100 shares they currently hold in IDFC Ltd.

Hero MotoCorp Ltd rose more than 4% after announcing a partnership with Harley Davidson to launch the X440, a 440 cc vehicle priced at Rs 230000.

Bharti Airtel, Reliance Industries (RIL), and Vodafone Idea fell 1-3% following RIL’s launch of Jio Bharat phones at Rs 999 fearing a resumption of the tariff war.

Trade war between US and China may intensify further after China announced export restrictions needing prior permission on metals essential to make semiconductors, electric vehicles, and high-tech sectors like gallium and germanium products.

Tradingqna · July 5, 2023, 1:51pm

Benchmark indices snapped their positive run and closed flat in a choppy session. Dow and Nasdaq futures are trading lower.

Brent Crude: 76.01 -0.31%
USD INR Spot: 82.1616 0.235%
India 10Y Bond yield: 7.107 -0.17%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

BHEL was the top gainer.

Dixon Technologies (India) was the top loser.

News

Maruti Suzuki India surged 3.5% after unveiling the new Invicto, priced at Rs 24.8-Rs 28.4 lahks, targeting the premium three-row MPV segment. The company collaborated with Toyota Kirloskar Motor to source a strong hybrid model.

S&P Global’s Purchasing Managers’ Index (PMI) survey fell to a three-month low of 58.5 in June from 61.2 in May, owing mostly to inflation.

China became India’s second-largest steel exporter, selling 0.2 million metric tons, up 62% YoY, in April and May. India’s steel imports from China reached a six-year high in the first two months of the fiscal year.

Bandhan Bank fell nearly 6% before ending down 2.5% following the resignation of CFO Sunil Samdani along with the weaker sequential decline of the loan book in the June quarter.

Tradingqna · July 6, 2023, 1:03pm

Nifty and Sensex reached new highs, gaining 0.5% for the day amid mixed global cues. US futures are trading lower.

Brent Crude: 76.81 0.21%
USD INR Spot: 82.4572 0.360%
India 10Y Bond yield: 7.146 0.58%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

MCX was the top gainer.

Eicher Motors was the top loser.

News

BSE Ltd rose 3% as the board approved a Rs 375 crore share buyback through the tender route. The buyback price of Rs 816 per share represents a 19% premium over the current market value.

OMCs rallied 4-5% as IOC Ltd. surged 5% ahead of its board meeting on July 7 to consider fundraising via right issues for project expenses. BPCL’s board already approved raising up to Rs 18,000 crore through a rights issue on June 28.

Auto retail sales in June grew 10% YoY but faced an 8% MoM decline, indicating a temporary slowdown. Inventory pressures and demand-supply imbalances affect profitability, but the upcoming festive season brings hope for improved sales in the passenger vehicle segment.

Tata Power secured a smart metering project valued at Rs 1,744 crore in Chhattisgarh. The contract was awarded by Chhattisgarh State Power Distribution Company Limited (CSPDCL), according to Tata Power’s statement.

Tradingqna · July 7, 2023, 1:20pm

Benchmark indexes tumbled from the day’s high, closing nearly 1% lower following poor global signals. Dow and Nasdaq futures are trading lower.

Brent Crude: 76.61 0.12%
USD INR Spot: 82.6773 0.267%
India 10Y Bond yield: 7.16 0.18%

Nifty 50 market breadth

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Zee Entertainment Enterprises was the top gainer.

Intellect Design Arena was the top loser.

News

The leading drone maker ideaForge is listed on the BSE for a hefty premium of 94.21%, at Rs 1,305.10 per share. The stock’s NSE debut price of Rs. 1,300 was 93.45% higher than its IPO issue price of Rs. 672.

The rupee fell to a six-week low of 82.74 versus the dollar on July 7, tracking losses in Asian currencies as the market adjusted its expectations for probable Fed rate rises in response to strong US employment statistics.

Tata Motors rose over 3.5% to a record high of Rs 622 after the firm announced a significant increase in Jaguar-Land Rover sales during the April-June quarter, and on the news that JLR is expected to report Free cash flow of over £400 million in Q1FY24.1FY24

United Breweries Limited and United Spirits Limited both lost 3% after Karnataka increased the additional excise tax on Indian Made Foreign Liquor (IMFL) and beer by 20% and 10%, respectively.