Market View 23th June, 2025

View on market: Volatility persists, eagerly searching for growth

Stocks fell on Monday after the United States launched strikes on Iran’s nuclear sites over the weekend, raising geopolitical tensions. U.S. stock futures also declined early Monday, reflecting investor caution. Meanwhile, crude oil prices surged, with Brent gaining sharply, and the dollar strengthened against most global currencies, including the euro. Despite Monday’s drop, Indian markets showed strength as the benchmark indices ended last week on a positive note, recovering from earlier losses. This rebound was driven by easing domestic concerns and selective buying by investors. In the U.S., markets closed last week with mixed results. While concerns over the ongoing conflict between Iran and Israel weighed on investor sentiment, there were some gains in specific sectors. The broader markets like the S&P 500 and Nasdaq ended slightly lower, while the Dow saw a modest rise. Overall, markets remained volatile due to global tensions, and investors continued to watch developments in the Middle East closely.

Economic Calendar:

• USD: S&P Global Services PMI on 23^rd June 2025.
• IND: S&P Global Services PMI (Jun) on 23^rd June 2025.
• USD: S&P Global Manufacturing PMI (June) on 23^rd June 2025.
• IND: S&P Global Manufacturing PMI (June) on 23^rd June 2025.

IPO Watch:

Brokerage Radar:

GOLDMAN SACHS ON L&T FINANCE:

Maintain Buy with target price of Rs 185, ROA improvement and AUM growth on track, Poised to deliver strong earnings growth, Expect to deliver earnings growth of 30% CAGR over FY25-27, If company delivers in-line/better performance, it has further scope to re-rate.

JEFFERIES ON CHOLA FINANCE:

Maintain Buy with target price of Rs 1,800, Management stated growth & asset quality trends have been soft in Q1, These should improve if the monsoon is good, Management expects 10-15 bps NIM expansion & flat credit cost Vs -10 bps guided earlier in FY26.

JEFFERIES ON KFIN TECHNOLOGIES:

Maintain Buy with target price of Rs 1,460, Management is focused on ramping up & driving synergies from M&A, Assent has presence across large markets and can now target larger clients, Domestic business is doing well and company isn’t facing specific pricing issues.

JEFFERIES ON POLYCAB:

Maintain Buy; Hike target price to Rs 7,150 from Rs 7,050, FY25 saw further +1% market share gain in organized C&W to 26-27% now, Timely capex aided +26% sales CAGR in C&W, FMEG segment turned profitable post 10 quarters, Est FY25-28e EPS CAGR at +26%, driven by strong order book and better FMEG margins.

International Markets:

U.S & Europe:

*As per 23^rdJune.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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