Market View 30th Jan, 2025

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

Asian stocks experienced fluctuations on Thursday after the Federal Reserve opted to keep interest rates unchanged. Fed Chair Jerome Powell indicated that officials weren’t in a rush to lower borrowing costs, leading to initial concerns that the Fed was growing more worried about inflation. As a result, U.S. stocks saw some declines, with the S&P 500, Nasdaq 100, and Dow Jones all slipping. Bond yields for shorter durations also rose but later stabilized as Powell’s comments reassured markets. Meanwhile, Indian stocks showed a positive trend, with the benchmark indices closing higher for the second day in a row. Shriram Finance, Bharat Electronics, and Tata Motors were among the key contributors to the gains in the Indian market. The NSE Nifty 50 ended up, along with the BSE Sensex, both closing in the green, reflecting investor confidence and strong performances from major Indian companies despite global market uncertainties.

Key Today’s Q3 Results

ADANIPORTS, AJANTPHARM, BAJAJFINSV, BAJAJHLDNG, BANKBARODA, BEL, BIOCON, CORAGRO, DABUR, GAIL, JINDALSTEL, JITFINFRA, LALPATHLAB, LT, POLICYBZR, POLYTEX, SHREECEM.

Economic Calendar:

• USD: Fed Interest Rate Decision on 30^th January 2025.
• IND: Federal Fiscal Deficit (Dec) on 31^st January 2025.
• USD: ISM Manufacturing PMI (Jan) on 3^rd February 2025.
• IND: Indian Union Budget on 1^st February 2025.

IPO Watch:

Brokerage Radar:

JEFFERIES ON SRF:

Maintain Underperform, target price ₹2,600, Chemical segment beat driven by higher demand for refrigerant gases, Demand coming from domestic OEMs for refrigerant gases, Specialty chemical demand remains muted due to inventory hangover, Packaging segment performance remains, Valuations remain stretched.

NOMURA ON CARTRADE:

Maintain Buy, target price ₹1,779 (from ₹1,278), Favorable industry dynamics to sustain growth, Growth momentum sustainable for OLX and consumer business, Raised FY25-27 adjusted EBITDA by 14-22% and adjusted EPS by 14-18%, Raised consumer business growth to 29%/26%/21% over FY25-27 (earlier 20%).

BOFA ON RELIANCE INDUSTRIES:

Maintain Buy, target price ₹1,550 (from ₹1,723), Risk-reward favorable, catalysts key for re-rating, Visibility on momentum uptake in retail business, Value unlocking catalyst for Jio or Retail, Telco has multiple revenue drivers, 5G capex largely completed, Free cash flow for telecom business to improve.

International Markets:

U.S & Europe:

*As per 30^th January.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing 

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