Market View 9th June, 2025

View on market: Volatility persists, eagerly searching for growth

Asian stock markets began the week positively as the United States and China prepared to resume trade talks. This renewed hope for progress in easing trade tensions, especially after a key disagreement over mineral supplies was settled. Stocks in Japan and South Korea opened higher, and U.S. stock futures remained stable after a strong finish last week. Positive jobs data from the U.S. also helped reduce fears of an economic slowdown, giving investors more confidence. In India, stock markets ended higher for the third day in a row after the central bank lowered interest rates to support the economy. Meanwhile, U.S. markets closed at their best levels since early this year. Strong employment numbers pushed bond yields up and helped calm recession worries. All major U.S. stock indexes rose, driven by hopes for progress in trade talks and renewed pressure on the central bank to cut interest rates further. Overall, global markets started the week with optimism on trade and economic outlooks.

Economic Calendar:

• USD: Wholesale Trade Sales (MoM) (April) on 09^th June 2025.
• IND: CPI (YoY) (May) on 12^th June 2025.
• USD: Core CPI (MoM) (May) on 11^th June 2025.
• IND: Import and Export Data on 13^th June 2025.

Brokerage Radar:

NOMURA ON FIRSTSOURCE SOLUTIONS:

Rating remains Buy with target price of Rs 390, Deal wins give strong growth visibility in FY26E, Company has achieved a USD1bn annual revenue run-rate a year ahead, Tech spends would rise on account of GEN AI.

MORGAN STANLEY ON KAYNES TECHNOLOGY INDIA:

Rating maintains Equal-weight with target price of Rs 6,155, Company has no plans to sell its stakes for next 5 years, Reiterated revenue guidance of US$1 billion by FY28, Management expects FY26 exports share of 15% (FY25: 10%).

MORGAN STANLEY ON JSW ENERGY:

Target Rs 608 potential 16% recommendation overweight, Company announced commissioning of 281MW renewable energy capacity (215MW solar and 66MW wind), Total installed capacity now at 12.5GW, Signed a 25-year power purchase agreement with Adani Electricity Mumbai Ltd for 250MW wind energy at a tariff of Rs 3.65/kWh, The project is expected to be commissioned in 24 months.

JP MORGAN ON RESERVE BANK OF INDIA:

Rate cuts and liquidity front-loaded to boost transmission, Believes that the current policy rate of 5.50% is the terminal rate, RBI reduces inflation forecast from 4% to 3.7%, There are still modest downside risks to the inflation forecast.

International Markets:

U.S & Europe:

*As per 09^th June.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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