Weekly Trading Diary: 6th to 10th March 2023

[Tradingqna]

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

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Things to watch out for in the coming week;

Key macroeconomic events to watch out for during the week;

	6th March		7th March		8th March		9th March		10th March
Eurozone	S&P Global Construction PMI	China	Trade Balance (FEB)	Eurozone	GDP Growth (Q4CY22)	Japan	GDP Growth (Q4CY22)	India	Industrial Output
				US	Trade Balance (JAN)	China	CPI Inflation (FEB)		Manufacturing Output
					Crude Oil Inventories	US	Jobless Claims	Japan	BOJ Interest Rate Decision
								US	Unemployment Rate (FEB)
									Nonfarm Payrolls (FEB)

What are you looking forward to in the week? Share below and join the discussion

[vikramaditya]

Nifty’s behaviour at 17800 will be very interesting. Needs to see the level of resistance that zone offers.

[YS_Bhargav]

We have fin nifty expiry today as tomorrow is a holiday.

[Tradingqna]

Nifty and Sensex began the week strongly, gaining nearly 0.7%. US markets look set for a muted opening.

USD INR Spot: 84.49 -1.69%
India 10Y Bond yield: 81.91 -0.07%
Brent Crude: 7.428 0.16%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Mahanagar Gas was the top gainer.

Zee Entertainment was the top loser.

News

Automobile retail sales increased by 16% YoY in February, with the two-wheeler, three-wheeler, passenger vehicle, tractor, and commercial vehicle categories rising by 15%, 81%, 11%, 14%, and 17%: FADA

Mahanagar Gas acquired a 100% stake in city gas distributor Unison Enviro (UEPL) for Rs. 531 crores. UEPL is authorized by PNGRB to implement the CGD network in Maharashtra and Karnataka.

Hero MotoCorp and Zero Motorcycles will collaborate to develop premium electric motorcycles, combining Zero’s powertrain and electric motorcycle expertise with Hero MotoCorp’s manufacturing, sourcing, and marketing capabilities.

Alembic Pharmaceuticals recovered 4.6% after getting USFDA clearance for its colon cancer injection, Fluorouracil Injection, which has a US$5 million market size for the twelve months ending December 2022.

Tata Motors gained over 3% after Jaguar Land Rover (JLR) reported 33% higher year-on-year total sales of 1,670 cars in the UK market in February.

[Tradingqna]

Benchmark indexes managed to close near the day’s high, extending the upward run into the third trading session. US futures are trading higher.

USD INR Spot: 83.29 0.52%
India 10Y Bond yield: 82.055 0.18%
Brent Crude: 7.458 0.54%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Balrampur Chini Mills was the top gainer.

Indus Towers was the top loser.

News

HAL and L&T gained 5% and 1.5%, respectively, after the Ministry of Defence signed contracts worth Rs. 9,900 crore with these companies on Tuesday for the acquisition of 70 HTT-40 basic trainer aircraft and three cadet training ships.

Power Grid has announced that the board has approved two projects worth Rs 4,070.98 crore, including Eastern Region Expansion Scheme-XXIX costing Rs 524.04 crore, to be commissioned by November 2025.

India’s yield curve inverted as the one-year government debt yield surpassed the 10-year bond yield due to high cutoffs at a treasury bills sale. RBI sold 364-day notes at 7.48%, the highest since October 2018, while the 10-year bond yield was at 7.46%.

US markets tumbled roughly 1.5% as Federal Reserve Chairman Jerome Powell cautioned that interest rates are likely to move higher than central bank officials had predicted as inflation has reversed the decline it exhibited in late 2022.

[Tradingqna]

Benchmark indices slumped over nearly 1% snapping a three-day gaining streak. US markets look set for a mixed start.

USD INR Spot: 82.9 0.57%
India 10Y Bond yield: 81.975 -0.10%
Brent Crude: 7.446 -0.17%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Manappuram Finance was the top gainer.

Adani Enterprises was the top loser.

News

India’s unemployment rate climbed to 7.45% in February from 7.14% in January, resulting in 33 million jobless, up from 31.5 million. Rural areas saw a significant rise in unemployment after a four-month decline: CMIE

Reliance Consumer Products re-launched the local beverage brand Campa, which has a history spanning over 50 years in the Indian market. This comes months after the brand was acquired by the company’s parent company, Reliance Retail Ventures

Radisys Corp, a unit of Jio Platforms, is buying Mimosa Networks from Airspan Networks Holdings for $60 million in debt-free, cash-free terms to boost its 5G and broadband services.

India’s finished steel exports from April to February fell 52% year over year to 5.9 million tonnes due to a drop in global demand.

[Tradingqna]

Benchmark indexes opened with a gap down and closed over 1% down, extending their losing run to the second trading day. US markets look set for a mixed start.

USD INR Spot: 81.02 -0.54%
India 10Y Bond yield: 82.04 0.08%
Brent Crude: 7.432-0.12%

Nifty 50 market breadth for the day;

Sectoral performance.

More stats at: stocks.zerodha.com

Amongst the F&O stocks

Dixon Technologies was the top gainer.

Polycab India was the top loser.

News

India’s fuel demand rose 5% at 4.82 million barrels per day to hit its highest level in at least 24 years in February, as industrial activity in the economy was boosted by cheap Russian oil: PPAC

As per RBI’s data, India’s foreign exchange reserves rose for the first time in five weeks and stood at $562.40 billion, up by $1.46 billion for the week ended March 3 after falling by a total of $15.8 billion in the previous four weeks.

Tata motors stayed firm closing 1% up in an otherwise weak market as its technology arm Tata Technologies Limited filed its draft red herring prospectus with SEBI to launch its IPO.

India’s industrial production surged by 5.2% in January this fiscal with the manufacturing sector’s output increasing by 3.7% in January 2023. Mining output rose 8.8% and power generation surged 12.7% during the month.