Weekly Trading Diary: 5th August to 09th August 2024

[Tradingqna]

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

---

Benchmark indices declined close to 3%, after a global selloff in equities driven by fears of a possible slowdown in the US economy. Dow and Nasdaq futures are down.

Brent Crude: 76.41 -0.48%
USD INR Spot: 83.839 0.12%.
India 10Y Bond yield: 6.971 1.03%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Dr. Lal PathLabs was the top gainer.

LIC Housing Finance was the top loser.

News

The US two-year yield fell below the 10-year yield for the first time since July 2022, indicating fears of an economic downturn and expected Fed policy easing. This inversion follows a series of interest rate hikes since March 2022.

Infosys Ltd. announced the withdrawal of a ₹3,898 crore tax demand for FY 2018 by the Directorate General of GST Intelligence (DGGI). This follows efforts to resolve a ₹32,403 crore tax notice for services from overseas branches between July 2017 and March 2022.

Oil and Natural Gas Corporation (ONGC) has intensified operations to boost gas production in Tripura to support power generation plants, amid reports of reduced gas supply to these facilities.

Tata Power Company announced it has received a letter of intent from PFC Consulting, a subsidiary of Power Finance Corporation, to acquire a project-specific special-purpose vehicle.

Emami’s latest annual report shows that 45% of FY24 revenue came from acquired brands and 56% from non-seasonal brands. The company is transitioning to a “perennial and universal” organization with a consumer-centric approach, said Vice-Chairman and MD Harsha V Agarwal.

Tata Electronics held a groundbreaking ceremony for its ₹27,000-crore semiconductor facility in Assam, set to open next year and create 27,000 jobs.

[Tradingqna]

Benchmark indices closed higher, breaking a three-day losing streak, driven by a global market rebound. Dow and Nasdaq futures are trading marginally higher.

Brent Crude: 78.22 1.74 %
USD INR Spot: 83.9519 0.13%.
India 10Y Bond yield: 6.983 0.11%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Oil and Natural Gas Corporation was the top gainer.

Shree Cement was the top loser.

News

The rupee closed at a record low of 83.955 against the US dollar for the fourth straight day, amid importer demand and global volatility, touching an intraday low of 83.9725.

Indian exports of two-wheelers, trucks, and buses to Bangladesh may be severely impacted this month due to civil unrest. Bajaj Auto ships 3.6% of its exports to Bangladesh, while Hero MotoCorp relies on Bangladesh for 20-30% of its international sales.

Suzlon Energy Ltd.'s Board approved the 76% acquisition of Renom Energy Services for ₹660 crore, according to the company’s BSE filing on August 6.

Tata Power is exploring more hydropower projects in Bhutan after partnering with Druk Green Power for the 600 MW Khorlochhu Project, investing ₹830 crore for 40% equity. CEO Praveer Sinha foresees three to four more projects in the next five to seven years.

Godrej Consumer Products Ltd. plans to enter the pet care industry, investing Rs 500 crore over the next five years, with production under Godrej Pet Care starting in the second half of fiscal 2026.

[Tradingqna]

Benchmark indices closed lower amid heightened volatility after the RBI kept the repo rate unchanged at 6.5% for the ninth consecutive policy meeting. US futures are trading higher.

Brent Crude: 78.37 0.10 %
USD INR Spot: 83.9584 0.01%.
India 10Y Bond yield: 6.991 1.88%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

MRF was the top gainer.

Piramal Enterprises was the top loser.

News

Reliance Retail opened 1,840 new stores in FY24 and signed multiple deals with global companies. The retail business recorded an EBITDA of Rs 23,802 crore, up 28.4% YoY, with revenue growing 18.3% YoY to Rs 2,73,131 crore.

Power Finance Corporation (PFC) secured a 25.5 billion Japanese yen (around Rs 147 crore) loan from Japan Bank for International Cooperation (JBIC) for a wind energy project. This loan is part of JBIC’s GREEN initiative, PFC announced.

Coforge received a second supplementary notice from a North American client, claiming an amount exceeding $11 million, as stated in an exchange filing.

India’s largest carmaker, Maruti Suzuki, will recall 2,555 Alto K10 models due to a suspected defect in the Steering gearbox assembly, the company announced.

Ceigall India shares debuted at Rs 419, a 4% gain over the Rs 401 issue price. However, the stock fell to Rs 404, nearly flat compared to the IPO price.

[Tradingqna]

Nifty and Sensex opened with gains and held steady, closing over 1% higher, driven by positive global cues. US futures are trading slightly lower.

Brent Crude: 79.47 0.39 %
USD INR Spot: 83.9 -0.07%.
India 10Y Bond yield: 7.001 1.80%

Nifty 50 heat map.

More stats at: technicals.zerodha.com

Amongst the F&O stocks

Trent was the top gainer.

Steel Authority of India was the top loser.

News

Gold ETFs in India saw inflows of Rs 1,337.4 crore in July, the highest since August last year, as domestic gold prices declined. This follows a net inflow of Rs 726.2 crore in June, according to AMFI data.

Tata Chemicals plans to raise Rs 1,700 crore through non-convertible debentures (NCDs) on a private placement basis. An internal committee has finalized the terms of the issue, the company announced in a regulatory filing.

Zydus Lifesciences has received final USFDA approval to market Valbenazine Capsules in 40 mg, 60 mg, and 80 mg doses, the company announced.

HCLSoftware, a division of HCLTech, will acquire French data catalog company Zeenea for 24 million euros (Rs 220 crore) through its UK subsidiary. The deal is expected to close in September.

Dabur’s CEO, Mohit Malhotra, announced that their factories and stockists in Bangladesh are now operational after a week-long shutdown. He added that they are closely monitoring the situation to resume normal operations.