Market View 16th Jan, 2025

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

Stocks in the Asia-Pacific region saw gains on Thursday, following a strong performance in US markets, which were buoyed by easing inflation and the expectation of potential interest rate cuts by the Federal Reserve. US investors experienced relief after a quiet session on Tuesday, where tech stocks slightly declined. On Wednesday, major US indices, including the S&P 500, Dow Jones, and Nasdaq, saw significant gains, with the S&P 500 marking its biggest jump since the US election. Meanwhile, Indian markets also extended their gains for the second consecutive day, as traders remained cautious ahead of the release of US inflation data. The Indian stock indices, NSE Nifty and BSE Sensex, showed modest increases, reflecting a balanced mood in the market. Despite a positive start, the Indian markets remained somewhat indecisive, with traders likely waiting for clearer direction from global data and developments, particularly the US inflation figures.

Key Today’s Q3 Results

AXISBANK, ALOKINDS, HAVELLS, INFY, LTIM, RELIANCE, METROBRAND, DBCORP, MASTEK, HATSUN, SELLWIN, ALOKINDS.

Economic Calendar:

• USD: Export and Import Price Index on 16th January 2025.
• IND: Foreign Reserves (USD) on 17^th January 2025.
• USD: Initial and Continuing Jobless Claims on 23^rd January 2025.
• IND: S&P Global Manufacturing, Service PMI (Jan) on 24^th January 2025.

IPO Watch:

Brokerage Radar:

JEFFERIES ON HDFC LIFE:

Better product mix drives beat on soft expectations, Maintain Buy, target price ₹750, Rise in share of non-par vs par aided margins, Fall in 13M persistency ratio to 82% in 3Q is slightly disappointing.

INVESTEC ON HDFC LIFE INSURANCE:

Maintain Buy, target price ₹850, Major positive surprise on margins, Banca concerns allayed to some extent, Cut enterprise value by 2% due to downgrades to economic variance, Management mentioned margin seol improvement is sustainable.

MACQUARIE ON LTTS:

Maintain Underperform, target price ₹4,310, Good growth in Technology vertical with record deal wins, Acquisition of Intelliswift pivots the portfolio towards faster-growing Digital Software Engineering, Anticipates automotive challenges to 49009 continue for a couple more quarters, Continue to see IT Services firms growing faster than ER&D firms, Prefer Persistent Systems over LTTS.

International Markets:

U.S & Europe:

*As per 16^thJanuary.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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