Market View 17th Dec, 2024

View on market: Volatility Prevails, Market is searching for better value

Equities in Asia rose in anticipation of interest rate decisions from major central banks, including the Federal Reserve, later this week. In the US, new economic data showed strong growth in service sector activity, reaching its highest level since October 2021. However, factory activity in New York state declined sharply, marking the largest drop since last May. On Monday, major stock indices in the US ended lower, primarily due to losses in information technology and metal stocks. This downward trend was also seen in the Asia-Pacific region, influenced by mixed economic data from China. In India, both the NSE Nifty 50 and BSE Sensex closed lower, reflecting the global market sentiment. Investors are closely watching upcoming economic indicators to assess the potential impacts on interest rates and broader market trends.

Economic Calendar:

• USD: FOMC Press Conference on 18th December 2024.
• IND: Foreign Reserves (USD) on 20^th December 2024.
• USD: GDP Price Index (QoQ)  (Q3) on 19th December 2024.
• IND: Federal Fiscal Deficit (Nov) on 31^st December 2024.

 

IPO Watch:

Brokerage Radar:

CITI ON VEDANTA:

Vedanta’s board announced a 4th interim dividend of Rs 8.5/sh, Record date 24th Dec, Total outflow on account of the dividend would be ~Rs 3300 cr (promoter owns 56.4% in Vedanta), Follows third dividend announcement of Rs 20/sh, Total dividend declared by VED thus far for FY25 is Rs 43.5/sh (~Rs 16800 cr), Dividend received from HZL in FY25 so far is ~Rs7800CR (Vedanta owns 63.4% in HZL).

KOTAK ON ESCORTS KUBOTA:

The domestic tractor industry on track to achieve mid-single-digit volume growth whereas export trends remain weak, Demand trends in construction equipment segments remain weak, Operational integration of EKI and KAI will happen gradually, leading to margin improvements.

INVESTEC ON PAINTS SECTOR:

Competition intense; demand, Demand in Q3 FY25 continues to be subdued but expressed hope for a recovery in Q4, Potential impact of rising competition can be severe, even if Grasim fails to meet its targeted.Remain cautious Asian/ Berger Paints are our FAST SELL ideas; Berger is also our Q- N Alpha SELL idea.

International Markets:

U.S & Europe:

*As per 17^th December.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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