Market View 2nd April, 2025

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

Markets in the Asia-Pacific region showed mixed performance as investors awaited clarity on U.S. trade policies. Japan’s stock index saw slight gains, while South Korea’s market declined. In the U.S., major stock indices closed mostly higher, supported by gains in technology stocks. The S&P 500 and Nasdaq ended in positive territory, while the Dow Jones remained nearly flat. Investors remained watchful of economic signals and policy developments. Indian stock markets declined for the second consecutive session, with banking stocks leading the losses. The benchmark indices fell to their lowest levels in over a week. Heavyweights in the banking sector, including major private lenders, were the biggest drag on the market. Investor sentiment remained weak amid concerns over economic conditions and global market trends. Overall, markets across regions reflected uncertainty, with traders looking for more clarity on policy direction and economic indicators before making major investment moves.

Economic Calendar:

• USD: Crude Oil Inventories on 2^nd April 2025.
• IND: S&P Global Manufacturing PMI (Mar) on 2^nd April 2025.
• USD: Continuing and Initial Jobless Claims on 3^rd April 2025.
• IND: Foreign Reserves (USD) on 4^th April 2025.

Brokerage Radar:

GOLDMAN SACHS ON TATA CONSUMER PRODUCTS:

Upgrade to Buy, Raise target price to ₹1,200 from ₹1,040, Poised for strong EPS growth over FY25-27, Expect tea margin recovery with price hikes, Strong innovation and distribution expansion in growth businesses, Lower net interest cost as acquisition debt is paid down, While competitive intensity remains a concern, believe the worst is behind.

NOMURA ON TARIFFS:

Suspect US reciprocal tariff criteria will be broader than just matching current tariffs, If India’s tariff on US imports is 9.5% and the US tariff on Indian imports is 3%, the reciprocal tariff would be 6.5%, India, Thailand, and Brazil among the five most exposed countries.

JP MORGAN ON INDIAN IT SERVICES:

Downgrade HCL Tech from Overweight to Neutral, Downgrade due to weak Q4, soft deal wins, and macro uncertainty, Upgrade Tech Mahindra from Underweight to Neutral, See Tech Mahindra as a self-help margin story, All eyes on FY26 guidance as another modest year beckons, Q4 will see uncertain macro impact.

International Markets:

U.S & Europe:

*As per 2^ndApril.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing

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