Market View 20th June, 2025

View on market: Volatility persists, eagerly searching for growth

Asian markets started the day cautiously, with investors remaining careful due to growing geopolitical tensions. Stocks in Japan and Australia moved within a narrow range as traders awaited further updates on global events. Concerns increased after news emerged that the US President may decide on a possible strike on Iran in the coming weeks. This uncertainty led to continued caution in global markets. Oil prices showed high volatility during the week, swinging within a wide range. Traders turned more optimistic on oil, as reflected in the options market, while key price spreads suggested tighter supply expectations. Back home, Indian benchmark indices declined for the third day in a row, reflecting weak investor sentiment. In the US, markets gave up their recent gains. After the Federal Reserve chose to keep interest rates unchanged, the Fed Chair’s comments about potential tariffs added pressure on stocks. Major US indices ended the day mostly flat or slightly lower, as uncertainty weighed on market direction.

Economic Calendar:

• USD: Fed’s Balance Sheet on 20^th June 2025.
• IND: Bank Loan and Deposit growth rate on 20^th June 2025.
• USD: S&P Global Manufacturing PMI (June) on 23^rd June 2025.
• IND: Foreign Reserves  on 20^th June 2025.

IPO Watch:

Brokerage Radar:

JEFFERIES ON INFOSYS:

Maintain Buy with target price of Rs 1,660, Delivery aligned by service lines to efficient scale up, Delivery – a key source of competitive advantage, Intensified focus on Risk management for large deals, Al to usher in workforce transition.

JEFFERIES ON SBI:

Maintain Buy with target price of Rs 960, Growth soft now and expected to pickup in Q2/Q3, Aiming to sustain 1% ROA despite rate cuts, Credit growth can stay higher than deposit growth; ramping-up on wealth offering, Subsidiary businesses can improve.

CITI ON SWIGGY:

Retains Buy Swiggy with a target price of Rs 425, Some leveling off on competitive spends in quick commerce in the last few months but remains early to call a trend, QC marketing spends may stabilize here on Swiggy will likely prioritize MTU growth.

CITI ON JUBILANT FOODWORKS:

Maintains buy with target price Rs 805, Free delivery bundled with accelerated product innovation is driving higher frequency and new customer acquisition, Company to build 5 platforms of Rs 10 billion each, For Popeyes, gross margin at 100 stores will be broadly at par with competition.

International Markets:

U.S & Europe:

*As per 20^th June.
**As per 18^th June.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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