Market View 23th May, 2025

View on market: Volatility persists, eagerly searching for growth

Asian markets opened cautiously on Friday, reflecting a slow start to global trading. US Treasury bonds remained steady after gains on Thursday, helped by easing concerns over the country’s fiscal situation. US stock futures moved in mixed directions during early Asian hours following a slight drop in the S&P 500, which marked its third straight day of losses. In Japan, inflation picked up pace, reaching its fastest rate in two years due to higher food and energy costs. This led to a small strengthening of the yen. Back in India, domestic stock markets ended lower on Thursday, giving back gains from the previous day. Market volatility continues to affect investor sentiment. In the US, Wall Street showed signs of uncertainty. Stocks fell late in the day as worries over government finances and recent bond selloffs weighed on investors.

Key Q4FY25 Financial Results for Today

ABFRL, AFCONS, APOLLO, APOLLOFI, ASHOKLEY, BALKRISIND, CELLO, CONCORD, CSLFINANCE, DEVYANI, EXICOM, GLENMARK, GPTHEALTH, JOHNPHARMA, JSWSTEEL, KPT, LUXIND, PCL, TRANSRAILL, UTTAMSUGAR.

Economic Calendar:

• USD: Mortgage Market Index on 28^th May 2025.
• IND: Foreign Reserves USD on 23^rd May 2025.
• USD: GDP Price Index (QoQ) on 29^th May 2025.
• IND: Industrial Production (YoY) (Apr) on 28^th May 2025.

IPO Watch:

Brokerage Radar:

UBS ON BEL:

Upgrade to Buy from Neutral; Hike target price to Rs 450 from Rs 320, Improving competitive edge and growth, Believe the long-term pipeline with a faster translation to revenue is underappreciated by the market.

CITI ON SUN PHARMA:

Maintain Buy; Hike target price to Rs 2,210 from Rs 2,080, Soft guidance reflects regulatory uncertainty rather than business reality, FY26E margins may remain flat; we expect sharp expansion in FY27E, Launch of Unloxcyt/Leqselvi.

MORGAN STANLEY ON TATA POWER:

Maintain Overweight; Hike target price to Rs 449 from Rs 425, Expect steady growth over the next few years despite some delays in RE commissioning, Underlying net debt/EBITDA will peak at 3.6x.

NOMURA ON BAJAJ AUTO:

Maintain Neutral with target price of Rs 9,413, Believe the KTM acquisition comes with near-term risks but has long-term upside potential, KTM will need a strong revival effort in the face of macroeconomic challenges in the EU and tariffs in the US, On the positive side.

International Markets:

U.S & Europe:

*As per 23^th May.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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