Market View 6th June, 2025

View on market: Volatility persists, eagerly searching for growth

Asian stock markets were expected to fall on Friday after U.S. markets ended lower due to concerns about upcoming jobs data, which could influence future interest rate decisions by the Federal Reserve. Futures for Japan and Australia dropped, while Hong Kong showed slight gains, standing apart from the general trend. In India, markets moved up for a second day, recovering from recent losses, ahead of a key interest rate decision by the Reserve Bank of India. Most economists believe the central bank may raise rates to manage inflation, while a few expect no change. Meanwhile, U.S. stocks fell due to tensions between former President Donald Trump and Elon Musk, which hurt Tesla and other large tech companies. This drop overshadowed earlier gains from hopes of better U.S.-China relations. A surprise rise in jobless claims also fueled expectations of future interest rate cuts by the Federal Reserve. All eyes are now on upcoming employment data, which could shape the direction of global financial markets in the near term.

Economic Calendar:

• USD: Unemployment Rate (May) on 06^th June 2025.
• IND: Foreign Reserves USD on 06^th June 2025.
• USD: Feb’s Balance Sheet on 06^th June 2025.
• IND: Monetary Policy on 06^th June 2025.

Brokerage Radar:

MORGAN STANLEY ON ASHOK LEYLAND:

Rating overweight; Increases target price from Rs 284 to Rs 288, Target increase as positive impact of stronger net cash position outweighed lower EBITDA estimates, Increased their export volume estimates due to continued strong performance internationally.

JEFFERIES ON RELIANCE:

Maintain Buy with target price of Rs 1,650, Stock has out-performed Nifty 12% YTD on recovery in retail growth, Visibility on FY26E growth is improving with space addition in Retail, constructive tariff outlook in Jio, and strong showing in 02C in 1Q.

CLSA ON BAJAJ AUTO:

Target s 10,149 potential 19% recommendation outperform, Remains preferred pick in the 2W space on steady margins and export recovery, Aims to gain market share in 125cc+ segment led by model refresh in Pulsar.

MORGAN STANLEY ON ONGC:

Target Rs 308 potential 29% recommendation overweight, Hook ups to KG basin oil and gas well to be completed in Q1 if monsoon permits, else in Q4, Rig costs fallen to $35kbpd should aid margins.

International Markets:

U.S & Europe:

*As per 06^th June.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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