Weekly Trading Diary: 4th March to 8th March 2024

[Tradingqna]

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

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Nifty and Sensex closed higher for the fourth consecutive session, reaching new record highs in a volatile market. Futures on the Dow and Nasdaq are trading lower.

Brent Crude: 83.59 0.05%
USD INR Spot: 82.900 0.06%.
India 10Y Bond yield: 7.059 -0.01%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Bharat Heavy Electricals was the top gainer.

Multi Commodity Exchange was the top loser.

News

The Reserve Bank of India directed IIFL Finance to halt the sanctioning and disbursement of gold loans due to significant supervisory concerns regarding the company’s gold loan portfolio, which poses risks to customer interests.

LIC Housing Finance aims to raise funds through green bonds next fiscal year to support environmentally sustainable housing projects. MD and CEO Tribhuwan Adhikari stated their intention to deploy the funds for such initiatives.

SJVN Green Energy, a subsidiary of SJVN Ltd, secured a 200 MW solar project through an e-Reverse Auction by Gujarat Urja Vikas Nigam. The project, to be developed on a build-own-operate basis, carries a tentative cost of Rs 1,100 crore.

Godrej Properties Limited saw a 3.5% surge in its shares as it revealed agreements to develop a township project on a 62-acre land in North Bengaluru.

Tata Motors has announced the demerger of its business operations into two distinct entities: commercial vehicles and passenger vehicles. This strategic decision seeks to capitalize on synergies and drive enhanced growth prospects.

[Tradingqna]

Nifty and Sensex closed the volatile session lower due to selling in IT and financial stocks, ending a four-day winning streak. US futures are trading lower.

Brent Crude: 83.62 -0.22%
USD INR Spot: 82.898 -0.02%.
India 10Y Bond yield: 7.057 -0.04%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Tata Chemicals was the top gainer.

RBL Bank was the top loser.

News

Adani Green Energy’s subsidiary has operationalized an additional 448.95 MW of solar power projects in Khavda, Gujarat, bringing the total to 1,000 MW with earlier projects.

Svatantra Microfin has inked a deal with Advent International and Multiples Private Equity to raise Rs 1,930 crore in equity, following its acquisition of Chaitanya India Fin Credit Limited. The merged entity will rank among India’s largest non-banking microfinance firms.

Bajaj Auto’s Rs 4,000 crore share buyback program commences tomorrow, aiming to repurchase 40 lakh shares, equivalent to 1.41% of total outstanding shares, at Rs 10,000 per share through the tender route.

Gold prices surged by Rs 800 on Tuesday, reaching a fresh record high of Rs 65,000 per 10 grams, propelled by strong global trends. In the previous session, the precious metal had closed at Rs 64,200 per 10 grams.

[Tradingqna]

Benchmark indices surged to fresh record highs, gaining over half a percent for the day, driven by positive global cues. Dow and Nasdaq futures are trading higher.

Brent Crude: 83.58 0.66%
USD INR Spot: 82.851 -0.06%.
India 10Y Bond yield: 7.056 -0.01%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Tata Chemicals was the top gainer.

Mahanagar Gas was the top loser.

News

LTIMindtree has acquired a 51% controlling stake in a new joint venture with Global Digital Integrated Solutions Company, a subsidiary of Saudi Aramco, to offer IT services in the MENA region. The initial investment, valued at $12.3 million, will be made in one or more tranches, as stated in a regulatory filing.

Wipro has invested $5.85 million to acquire a 27% stake in SDVerse, an automotive software marketplace, in collaboration with General Motors (GM) and Magna. Together, they aim to develop a B2B sales platform for automotive software trading.

Hindustan Petroleum Corp plans to begin operations at its new 180,000 barrels per day Barmer refinery in Rajasthan by end-December, primarily utilizing Middle East oil, aiming for full capacity within a year, says S Bharatan, head of refineries.

Havells India witnessed a surge in its stock price following its announcement to diversify its product range by introducing kitchen appliances, including cooktops, hobs, chimneys, and other built-in appliances.

Zomato shares dropped 4% in opening trade on March 6 after a block deal of around 19 crore shares, representing a 2.1% stake, totaling Rs 3,112 crore, with shares bought at an average price of Rs 160 apiece, marking a 3.5% discount from the previous close.