Market View 10th March, 2025

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

Stocks in the Asia Pacific region rose on Monday amid concerns about economic growth in the US. Additionally, China’s inflation dipped below zero for the first time in a year. This comes after S&P 500 rose 0.55% on Friday, while the Nasdaq Composite rose over 0.70% the Dow Jones Industrial Average also rose by 0.52% on Friday. The dollar index — which tracks the greenback’s performance against a basket of 10 leading global currencies — declined for the sixth consecutive session. The benchmark yield fell four basis points to 4.26%.The benchmark indices ended flat on Friday, with the NSE Nifty 50 rising 7.8 points to 22,552.5, while the BSE Sensex slipped 7.51 points to 74,332.58. Nifty snapped a three-week losing streak, posting its best weekly gains in three months.  Nifty Metal was the top sectoral gainer. Pharma, auto, IT, financial services, and banking indices ended higher after three weeks of losses, while FMCG snapped a four-week decline.

Economic Calendar:

• USD: CB Employment Trends Index (Feb) on 10^th March 2025.
• IND: CPI Index (Feb) on 12^th March 2025.
• USD: CPI Index (Feb) on 12^th March 2025.
• IND: Export and Import Data on 14^th March 2025.

Brokerage Radar:

ELARA ON INDUSIND BANK:

RBI grants only a 1-year extension to MD & CEO Sumant Kathpalia, raising leadership uncertainty. CFO exit & leadership attrition add to strategic ambiguity. Revise to Accumulate from Buy with a lower target price of ₹1,050 from ₹1,320 amid leadership transition risks. Uncertainty persists, but valuation vs. franchise value suggests a favorable long-term risk-reward.

ANTIQUE ON NALCO:

Maintain Buy, target price Rs 261.Alumina prices off peak levels but still higher than assumptions. Captive coal benefits, employee cost rationalization to support margin. Company is in the process of consolidating Utkal D and E coal blocks to operate as a single 4 MTPA capacity mine. Incremental captive coal would replace higher cost e-auction coal driving further power and fuel cost savings.

MOSL ON BHARTI HEXACOM:

Initiate coverage with a Buy rating and target price of ₹1,625.Hexacom, operating under the Airtel brand in Rajasthan and North East, offers pure play exposure to Airtel’s high-growth businesses. Lower tele-density and internet penetration in Hexacom circles vs pan-India provide strong growth potential. Expect Hexacom to outpace Airtel in subscriber and ARPU growth

International Markets:

U.S & Europe:

*As per 10^thMarch.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing 

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