Weekly trading diary: 4th to 8th December 2023

Tradingqna · December 3, 2023, 2:35pm

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

A quick look at how the markets performed in the week ended December 1, and things to look forward to in the week;

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Things to look forward to in the coming week:

	5th December		6th December		7th December		8th December
India	Services PMI (November)	US	Nonfarm Employment Change (November)	China	Trade Balance (November	India	RBI Interest Rate Decision
Japan	Services PMI (November)		Crude Oil Inventories	Eurozone	GDP Growth (Q3 CY23)	Japan	GDP Growth (Q3 CY23)
China	Composite PMI (November		Trade Balance (October)	US	Jobless Claims	US	Unemployment Rate (November)
	Services PMI (November)						Nonfarm Payrolls
Eurozone	Composite PMI (November
	Services PMI (November)
US	Composite PMI (November
	Services PMI (November)

Tradingqna · December 5, 2023, 1:35pm

Nifty and Sensex extended their bullish trend for the sixth straight session, reaching new all-time highs. US futures are trading lower.

Brent Crude: 78 -0.04%
USD INR Spot: 83.3931 0.07%.
India 10Y Bond yield: 7.239 -0.17%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Adani Enterprises was the top gainer.

ICICI Prudential Life Insurance was the top loser.

News

NSE Indices Limited, a subsidiary of NSE, unveiled the Nifty 50 Net Total Return (NTR) Index. This new Nifty 50 variant measures performance by factoring in reinvested cash dividends and bonus issue gains in the index, post-applicable withholding, and capital gains taxes.

Foxconn and Pegatron, key iPhone manufacturers in Chennai, India, paused production due to heavy rains and flooding caused by Cyclone Michaung. This extreme weather has severely impacted Chennai, a major electronics hub, disrupting various operations.

The European Investment Bank is eyeing India’s green hydrogen sector, while maintaining a focus on solar and wind energy, according to Nina Fenton, Head of South Asia. The bank plans to invest when the sector matures, in both public and private segments.

ReNew Energy Global and the Asian Development Bank agreed at the UN Dubai summit for $5.3 billion in funding (2023-2028) for renewable energy, carbon offsets, and green hydrogen projects.

B9 Beverages, known for Bira 91 beer, aims to raise Rs 400 crore ($50 million) from current and new investors for expansion, marking its third funding round in 13 months, with backers like Japan’s Kirin Holdings, Sequoia Capital, and Belgium’s Sofina.

Tradingqna · December 6, 2023, 1:11pm

Nifty and Sensex hit new highs in their seventh straight session of gains, driven by positive global cues and lower crude oil prices. Futures on the Dow and Nasdaq are trading slightly higher.

Brent Crude: 76.5 -0.91%
USD INR Spot: 83.3544 -0.05%.
India 10Y Bond yield: 7.254 -0.11%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Chambal Fertilisers and Chemicals was the top gainer.

Balrampur Chini Mills was the top loser.

News

India’s proposed national aviation hub policy, favoring local airlines with differential charges, may boost Indian carriers planning to expand international flights. Foreign airlines could face higher fees for landing, parking, and ground handling.

GST authorities issued 71 notices involving Rs 1.12 lakh crore to online gaming firms like Gameskraft and Dream11, as revealed by Pankaj Chaudhary in Parliament, highlighting tax issues in the sector.

S&P Global Ratings predicts India will be the world’s third-largest economy by 2030, with a focus on becoming a global manufacturing hub. Developing robust logistics is crucial for this shift from a service to a manufacturing-dominated economy.

Apple is exploring new suppliers in India, Japan, and South Korea for key components for its contract manufacturers in India. This shift follows delays in government approvals for imports from mainly Chinese suppliers, affecting the production of iPhones and iPads in India.

Indian firms continue to seek foreign loans, undeterred by high US interest rates. They’re on track to borrow over $25 billion abroad in 2023, up from $19 billion in 2022, as noted by an HSBC executive, the leading arranger of such loans this year.

Tradingqna · December 7, 2023, 12:40pm

Benchmark indices ended their seven-day winning streak, closing marginally lower. US futures are showing mixed trends.

Brent Crude: 74.86 0.75%
USD INR Spot: 83.365 0.75%.
India 10Y Bond yield: 7.24 -0.11%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Tata Power was the top gainer.

Balrampur Chini Mills was the top loser.

News

Adani Group and Wilmar International are offering to sell a majority of their 44% stakes in Adani Wilmar to private equity firms, planning to invest the proceeds in various Indian infrastructure and renewable energy projects.

November vehicle registrations surged 18% year-on-year to a record 2.85 million, exceeding the previous 2.41 million peak, driven by high demand for two-wheelers and passenger cars, as per the Federation of Automobile Dealers Association.

The RBI canceled the license of Uttar Pradesh’s Urban Co-operative Bank Limited due to insufficient capital and non-compliance with specific regulations.

Jalan Kalrock Consortium, the chosen bidder for Jet Airways, appealed against the NCLT order directing the airline’s monitoring committee to restart and finalize the aircraft sale process.

Ola Electric, headed by Bhavish Aggarwal, plans to file its draft red herring prospectus by December 20, aiming for an IPO before the 2024 general elections. The company is also advancing its retail strategy to strengthen its market presence pre-IPO.