Market View 4th July, 2025

View on market: Volatility persists, eagerly searching for growth

Asian markets traded in a narrow range on Friday, as renewed concerns over upcoming trade tariffs overshadowed a strong rally in US markets. Despite gains in some regions, the mood remained cautious across Asia. Japan and Australia saw modest increases in their stock markets, while Hong Kong and South Korea experienced declines. In India, stock markets opened stronger but slipped by the end of the day, marking the second straight session of losses. This suggests a lack of strong investor confidence as global uncertainties continue to weigh on sentiment. Meanwhile, US markets had a strong day. Stocks climbed to new highs during a shorter trading session ahead of the holiday weekend. The rally was supported by better-than-expected job data, which signaled that the US economy remains strong. However, the solid economic performance also reduced hopes for an interest rate cut by the Federal Reserve in the near term.  European market futures also dipped slightly, reflecting a cautious global outlook.

Economic Calendar:

• USD: Fed’s Balance Sheet on 08^th July 2025.
• IND: Bank Loan and Deposit Growth Rate on 04^th July 2025.
• USD: Mortgage Market Index on 09^th July 2025.
• IND: Foreign Reserves USD on 04^th July 2025.

 

IPO Watch:

Brokerage Radar:

MS ON L&T FINANCE:

Maintain Underweight with TP of Rs 132, Loan growth moderates, despite gold loan acquisition, Retail disbursements ex-gold loans were up 8% YoY, Await details on margins, credit costs, asset quality, etc., Management commentary and data on micro loans will be in focus during results.

JEFFERIES BAJAJ FINANCE:

Maintain Buy with TP of Rs 1044, Q1FY26 Pre-Qtr: Healthy Growth Despite Softer Mkt Trends, Growth encouraging as it comes in quarter when sales of consumer durables were down, AUM growth may have been aided by better trends in other segments.

JPMORGAN ON VISHAL MEGA MART:

Maintain Overweight with TP of Rs 133, Store expansion pace remains steady, Store additions skewed more towards virgin territories and smaller towns, Incremental cannibalization risk on SSSG is likely to be lower, Only ~2 stores have come in the existing pin codes during the quarter.

MACQUARIE ON TECH MAHINDRA:

Maintain Underperform; Hike TP to Rs 1090 from Rs 1050, 15% EBIT margin target by FY27E a very tough ask, Years of underinvestment in sectors outside Telecom a tough fix, Incumbency a disadvantage for TechM with Telecom clients, 15% EBIT margin goal a tough ask, we expect only 12.5-13.5% is achievable.

International Markets:

U.S & Europe:

*As per 04^thJuly.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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