Welcome to the weekly trading diary, a thread for discussing your trades, strategies, ideas, news, stories, etc.
Things to watch out for in the coming week;
IPOs
The IPO of IKIO Lighting opens for subscription on 6th June and will close on 8th June.
- Price Band: Rs. 270 - 285
- Minimum lot size: 52 and in multiples thereof
- Issue size: Rs. 607 crores
Here’s all you need to know: Everything you need to know about the IKIO Lighting Limited IPO
Key macroeconomic events
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5th June |
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6th June |
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9th June |
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Services PMI (May) |
UK |
Construction PMI (May) |
US |
Crude Oil Inventories |
India |
RBI MPC Meeting |
China |
CPI Inflation (May) |
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Japan |
GDP Growth Q1 CY23 |
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Services PMI (May) |
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Eurozone |
GDP Growth Q1 CY23 |
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Services PMI (May) |
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US |
Jobless Claims |
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Composite PMI (May) |
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Services PMI (May) |
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Services PMI (May) |
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Composite PMI (May) |
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Non-manufacturing PMI (May) |
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1 Like
Benchmark indexes started the week on a positive note, closing the day around 0.35% higher, following positive global trends. US futures are trading slightly lower.
Brent Crude: 77.89 +2.31%
USD INR Spot: 82.5768 +0.310%
India 10Y Bond yield: 6.997 +0.19%
Nifty 50 market breadth
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Mahindra And Mahindra was the top gainer.
Info Edge (India) was the top loser.
News
Defense company shares surge on solid growth visibility and reduced supply chain risk due to increased domestic procurements by the government.
TCS announced a 10-year mandate from England’s Department for Education (DfE) to manage and improve customer experiences for the Teachers’ Pension Scheme in England and Wales.
Auto retail sales in May 2023 showed a 10% YOY, driven by strong performances across various vehicle categories. Sales of two-wheelers, three-wheelers, passenger vehicles, tractors, and commercial vehicles grew by 9%, 79%, 4%, 10%, and 7% respectively.
Brent crude surpassed $77 per barrel after OPEC+ agreed to drop global production objectives from 2024 by 1.4 million barrels per day (bpd), with Saudi Arabia cutting output by 1 million bpd starting in July.
The Centre has banned 14 fixed-dose combination (FDC) drugs in the country based on an expert committee’s recommendation, citing a lack of therapeutic justification.
1 Like
Benchmark indexes recovered from lows to close the session flat. Dow and Nasdaq futures are trading lower.
Brent Crude: 75.33 -1.80%
USD INR Spot: 82.6396 +0.07%
India 10Y Bond yield: 6.978 -0.27%
Nifty 50 market breadth
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Ambuja Cements was the top gainer.
Persistent Systems was the top loser.
News
Adani Group repays $2.65 billion in loans as part of a prepayment initiative aimed at reducing overall debt and rebuilding investor confidence.
NHPC entered into a Memorandum of Understanding with the Maharashtra Government to set up energy storage systems with a capacity of 7,350 MW.
India’s services sector recorded strong growth in May, slightly lower than in April, with a reading of 61.2 on S&P Global’s PMI. This marks the 22nd consecutive month of expansion, the longest streak in almost 12 years.
Go First aims to restart flights with 22 planes for five months, pending DGCA approval. The regulator requested a resumption plan after meeting the airline’s management, and approval is anticipated within a week.
1 Like
Nifty and Sensex extend gains for the fourth straight session, climbing over half a percent ahead of the RBI’s monetary policy meeting. US futures are trading higher.
Brent Crude: 77 +0.93%
USD INR Spot: 82.5339 -0.128%
India 10Y Bond yield: 6.981 +0.06%
Nifty 50 market breadth
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Vodafone Idea was the top gainer.
Polycab India was the top loser.
News
Adani Group revives investment in India’s largest PVC plant, Mundra Petrochem, with Rs 14,000-16,000 crore funding after a 4-month pause. The total project cost is expected to be around Rs 35,000 crore.
Indian pharmaceutical sector rebounds in May after April contraction. Sales rise 5.6% YoY, with price increase and new product growth driving the growth. However, volume growth declines by 3.6% in May, impacting overall market growth for FY24.
ThyssenKrupp Marine Systems and Mazagon Dock will build six advanced submarines for the Indian Navy, supported by the German Defense Minister. The project is valued at Rs 45,000 crore under the strategic partner model.
Aditya Birla Group enters branded jewelry market with Rs 5,000 crore investment. Competing against Titan’s Tanishq and Reliance Industries’ Reliance Jewel, the venture called Novel Jewel will establish exclusive stores nationwide with in-house jewelry brands.
1 Like
Nifty and Sensex fell from the day’s highs, closing the session down nearly half a percent. US futures are trading marginally lower.
Brent Crude: 77.41 +0.60%
USD INR Spot: 82.5795 0.055%
India 10Y Bond yield: 7.022 +0.57%
Nifty 50 market breadth
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
Dixon Technologies (India) was the top gainer.
Indian Energy Exchange was the top loser.
News
RBI’s Monetary Policy Committee kept the repo rate unchanged at 6.5% in its bi-monthly review, while closely monitoring inflation and growth.
The cabinet committee approved an Rs 89,047 crore revival package for BSNL, allowing the acquisition of spectrum for 4G and 5G services. This is the third financial assistance for the state-run telco since 2019, bringing the total government support to Rs 3.22 lakh crore.
OECD raised India’s 2023-24 economic growth forecast to 6%, slightly higher than the previous 5.9%. It also projects retail inflation to be 4.8% in the current fiscal year, lower than both its previous estimate and the RBI’s forecast of 5.2%.
SEBI aims to update rules to track controllers of foreign portfolio investors and monitor funds in local private equity and venture capital funds. This aims to enhance transparency and prevent potential misuse of alternative investment funds.
1 Like
Nifty and Sensex closed lower for the second consecutive session, down nearly 0.4% following weak global cues. Dow and Nasdaq futures point to a mixed start for US markets.
Brent Crude: 76.28 +0.42%
USD INR Spot: 82.4251 -0.187%
India 10Y Bond yield: 7.036 +0.21%
Nifty 50 market breadth
Sectoral performance.
More stats at: stocks.zerodha.com
Amongst the F&O stocks
India Cements was the top gainer.
Indian Energy Exchange was the top loser.
News
NHDC will set up a 525 MW pumped storage project in Khandwa, Madhya Pradesh, costing Rs 4,200 crore. NHDC Ltd is a joint venture of NHPC Ltd and the Madhya Pradesh government: Union power ministry.
Jiomart B2B, an organized supply chain company, is shutting down warehouses and letting go of employees due to difficulties in sustaining the business. The low gross margins in supplying FMCG products are the primary challenge faced by companies in the supply chain sector.
Reliance Capital’s creditors will begin voting for the resolution plan presented by Hinduja Group’s IndusInd International Holdings, offering a recovery of Rs 10,000 crore. Other bidders failed to submit detailed plans within the deadline.
Four states surpassed the 10% mark in electric two-wheeler adoption. Goa leads at 17.20%, followed by Kerala at 13.66% and Karnataka at 12.19%. Maharashtra has the highest number of electric two-wheelers sold, with an adoption rate of 10.74%.
