Market View 22nd Jan, 2025

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

Asian stocks rose, following gains in the US, as investors anticipated that President Trump’s administration would ease business and energy production restrictions, boosting corporate prospects. The market sentiment improved as Trump took a more positive stance on global trade, fueling hopes that his policies would benefit American companies. Meanwhile, bond markets saw a pullback from the recent surge in yields that had caused market disruptions. The dollar showed mixed performance. In India, however, stock indices continued to decline, hitting their lowest levels since June, due to growing concerns about Trump’s trade tariffs. This drop in Indian stocks was worsened by market volatility, which coincided with the weekly expiry of futures contracts on the Sensex. Overall, uncertainty surrounding global trade policies and market fluctuations led to a cautious investment mood, especially in Indian markets.

Key Today’s Q3 Results

BPCL, COFORGE, GRAVITA, HDFCBANK, HINDUNIL, POLYCAB, TATACOMM, ZENSARTECH, BLBLIMITED, BHARAT, 20MICRONS

, HUDCO, KEYCORP, PERSISTENT, INDOSOLAR, ACCELYA.

Economic Calendar:

• USD: Initial and Continuing Jobless Claims on 23^rd January 2025.
• IND: S&P Global Manufacturing, Service PMI (Jan) on 24^th January 2025.
• USD: S&P Global PMI on 24th January 2025.
• IND: Federal Fiscal Deficit (Dec) on 31^st January 2025.

IPO Watch:

Brokerage Radar:

UBS ON KEI INDUSTRIES:

Maintain Buy, target price ₹5750 (from ₹6050), Recent margin miss in our view is more led by volatile commodities and muted government capex, See structural thesis of margin improvement by FY27 remaining intact, Led by favorable change in revenue mix, Any near-term negativity would be an opportunity.

CITI ON PΑΥΤΜ:

Maintain Buy, target price ₹1000 (from ₹900), Paytm has pivoted fully to a “Growth” focus and cost structure allows significantly more nimbleness, Growth momentum is solid on the merchant side with devices & loan distribution.

MORGAN STANLEY ON RELIANCE:

Maintain Overweight, target price ₹1606 (from ₹1662),  RIL transitioning into a new energy company to power Al, Provide India with the infrastructure for the new tech era, See investor debates shifting by 2HCY25, While many investors are focusing on retail multiples and refining/chemical earnings.

International Markets:

U.S & Europe:

*As per 22^th January.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing 

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