🪔Diwali Cheer, Digital Gear: India’s Shopping Sphere Takes a Festive Premiere! Weekly Update November 11
Hello Readers!
We hope you had a great week!
As Diwali, the festival of lights, approaches, there’s something special in the air. Have you noticed the change in how we celebrate? Nowadays, almost everyone grabs their smartphones for Diwali shopping – a modern twist to our age-old traditions.
This shift is incredible; a recent report says more than half of us like doing a mix of online and offline shopping. It’s like enjoying the best of both worlds. Are you planning your Diwali preparations similarly?
What’s surprising is that many of us are putting more money into online shopping this year – around 84% of folks are doing it.
Who’s taking the lead in deciding what to buy? Women! 68% of them are calling the shots for the festive shopping list. Do you have a chief shopper in your family, too?
Another exciting bit – 40% of people plan to buy from those direct-to-consumer online stores. Are you one of them, exploring new ways to get your Diwali goodies?
And, of course, our friendly giant, Amazon India, had a whopping 1.1 billion visits during its Great Indian Festival. That’s almost the whole country.
Speaking of traditional markets, they are still buzzing with energy. They always stayed in style, from Sarojini Market in Delhi to Crawford Market in Mumbai.
The cricket fever is adding an extra dose of excitement. Whether or not India wins, it’s a win for FMCG and consumer goods companies.
Diwali 2023 is turning out to be a mix of tradition and tech. It’s like our age-old celebrations got a cool upgrade!
🧾In this Article
📈 Weekly Update
– Mr Abhishek Jain, Head of Research, Arihant Capital
Indian benchmark stock indices rebounded from Friday’s decline, driven by the global downturn. A cautionary note from Fed chair Jerome Powell about potential interest rate hikes impacted risk appetite worldwide, hindering the surge in stocks and bonds and prompting a return to the dollar.
Consequently, the rupee experienced a new record low, and the 10-year government bond yield increased. Despite this, the headline indices recorded a weekly gain for the second consecutive time. Nifty ended up by 0.15% at 19,425 level. Sensex was up 0.11% at 64,905, and Nifty Bank was up 0.31% at 43,820.
📈 Market Outlook
–Mr. Ratnesh Goyal, Senior Research Analyst, Arihant Capital.
Nifty
Let’s look at the daily chart of Nifty. We are observing a “Series of Narrow Range “body formation & trading below 100 & 50DMA & on the weekly chart, we are observing the “Doji” candlestick; if we analyse both charts, patterns indicate that we can see some stock-specific moves & buy on deep strategy. If Nifty starts trading above the 19,480 level, then it can touch the 19,550-19,700 level, while on the downside, support is 19,300, and if it starts to trade below, then it can test the level 19,200 and 19,150 levels.
Bank Nifty
Let’s look at the daily chart of Bank-Nifty. We are observing “Hammer” candlestick formation prices trading above 200 DMA & on the weekly chart trading above 50 DMA. If we analyse both chart pattern, it indicates that bank-nifty now outperform compared to Nifty. Bank-nifty, if it starts trading above 44,100, then it can touch 44,300 and 44,500 levels. However, downside support comes at 43,700 and below that, we can see 43,500 and 43,100 levels.
🔎Stocks in News
🚗 Ashok Leyland: Plans to invest ₹1,200 cr in its EV subsidiary, Switch Mobility.
🏥 Apollo Hospitals: Set to invest ₹3,435 cr to expand bed capacity.
🛢️ Welspun Corp: Secured a contract with Saudi Aramco worth about ₹1,000 cr for steel pipes.
🚁 InterGlobe Enterprises: Aiming to launch an all-electric air taxi service in India by 2026.
🏦 LIC: Reports a 50% YoY decline in net profit to ₹7,925 cr.
⚓ Adani Ports: Q2 Results show PAT at ₹1,748, up 27.6% YoY.
📡 Airtel: Expands 5G coverage to all districts of West Bengal.
📞 Vodafone-Idea (Vi): Bombay High Court orders Vi a tax refund of ₹1,128 cr.
🏛️ ICICI Bank: Receives RBI approval to make ICICI Securities its fully-owned subsidiary.
🛫 IndiGo: Faces potential grounding of some planes due to engine issues.
🚢 Mazagon Dock: Announces a dividend of ₹15.34 per share.
🇺🇸 Adani Ports: US International Development Finance Corporation to invest $553 million in the Colombo
port terminal project, partly owned by Adani Ports and SEZ.
💼 Wipro: Asks all employees globally to work from the office thrice a week.
💹 Inox Wind: To raise ₹500 cr through the issue of preference shares.
📊 Genus Power: Bags an order worth ₹2,259.94 cr for a smart meter project.
🌐 Reliance Industries: According to reports, plans to raise to ₹20,000 cr through bonds.
📰 Quick Bites
🚆 Indian Railways: Cancels Tejas Express operation on 12 Nov due to Diwali.
🏏 India vs South Africa Match: Records a live viewership of 4.4 cr, the highest ever on Disney+ Hotstar.
💳 PAN Cards: 11.5 cr deactivated for not linking to Aadhaar cards before the deadline.
📈 Equity Mutual Funds: ₹19,932 cr invested in Oct – a rise of ₹6,075 cr. Small Cap mutual funds see inflows of ₹4,495 cr.
🔄 SIP Accounts: Total of 7.3 cr accounts in Oct – the highest ever.
📊 Retail Holdings in NSE: Stands at 8.75% of the total, up from 1.85% in Sept 2020.
⛽ Government-run OMCs: Report a consolidated net profit of ₹27,295 cr in the July-Sept quarter.
💡 Power Consumption in India: Rises 9.4% to around 984.39 billion units in April-Oct period.
🚗 Vehicle Registrations: 21.18 lakh registered last month, a decline of 7.73% YoY: FADA.
🚦 Delhi Odd-Even Rule: Reintroduced from 13 Nov to 20 Nov to combat air quality issues.
🌱 Sustainability Corner
🚗 Samvardhana Motherson International’s EV Business: Order book increases to $17 billion, 22% of its total automotive order book of $77 billion (₹64,130 crore).
🔋 EV Sales in India: Surpass 3 million units, celebrating independence from fossil fuels. Maharashtra leads in e-2Ws, e-PVs, and e-buses, while Uttar Pradesh excels in e3Ws.
🚗 Festive October in India: Powers strong double-digit gains for passenger vehicles, 2- & 3-wheel wholesales. SUV demand boosts the UV segment’s share of the PV market to 60%.
🏍️ Anish Shah, MD of Mahindra & Mahindra: Encourages global players to invest in India and compete with the local industry.
🛵 e3W Industry in India: Every second 3-wheeler sold is an electric zero-emission model. October records 56,818 units, up 58%. Jan-Oct 2023 retail jumped 72% to over 471,000 units.
📦 Amazon’s EV Delivery Program in India: Launches a global-first 100% EV-only program, using 6,000+ EVs in over 400 cities. Delivery Service Partners can lease tailored three-wheeler EVs.
🛠️ Varroc Engineering: Bags ₹3,602 crore order, adds three new EV customers.
🌍 Hero MotoCorp: To enter the UK, Spain, and France with EVs in 2024.
💡🍬 Knowledge Candy: What is Muhurat Trading
Muhurat means an auspicious time. In Hindu customs, it’s a time when the planets align just right, bringing good vibes and positive outcomes. Muhurat Trading is a unique tradition among Indian traders. It’s a one-hour window on Diwali day when buying and selling stocks is believed to bring prosperity.
Muhurat Trading Timings 2023
This year, Muhurat Trading will take place on November 12, 2023. The schedule is as follows:
| Pre-Open Session | 6:00 PM – 6:08 PM IST |
| Muhurat Trading | 6:15 PM – 7:15 PM IST |
| Post-Close Session | 7:30 PM – 7:38 PM IST |
| Market Close | 7:40 PM IST |
Learn more about Muhurat Trading.
Happy reading!
Also Read: How to Trade Above Freeze Quantity in Options on Arihant Plus?
