Market View 23rd October, 2025

View on market: Volatility persists, eagerly searching for growth:

Asian markets opened lower following a volatile session on Wall Street, where renewed trade concerns and weak corporate earnings dampened investor sentiment. US stocks retreated as technology shares faced pressure after cautious guidance from major companies, while Tesla slipped in late trading despite stronger sales. The decline in equities was accompanied by weakness in gold and cryptocurrencies, showing a broad risk-off mood. Reports suggesting potential restrictions on US software exports to China added to market uncertainty. European and US futures also traded lower during Asian hours, reflecting continued caution among investors. In India, markets were choppy during the special trading session marking the start of Samvat, with the main benchmarks ending nearly flat after early gains faded. Banking and technology stocks weighed on performance, while overall investor sentiment remained cautious amid global volatility and concerns over corporate earnings. Markets are expected to remain range-bound as traders assess upcoming earnings and economic cues.

Key Quarterly Results for Today:

ACL, COLPAL, FABTECH, HINDUNILVR, JUMBO, LAURUSLABS, PFS, SAGCEM, STHINPA, TTML, VTL.

Economic Calendar:

• USD: Core PPI (Sep) on 24^th October 2025.
• IND: S&P Global Services PMI (Oct) on 24^th October 2025.
• USD: S&P Global Manufacturing PMI (Oct) on 24^th October 2025.
• IND: S&P Global Manufacturing PMI (Oct) on 24^th October 2025.

IPO Watch:

Brokerage Radar:

MORGAN STANLEY ON MARUTI SUZUKI:

Target Rs 18360 Recommendation Overweight, Believe share price will rise over the next 60 days, Recovery in the number of first-time buyers, strength in rural areas and good response to the new SUV launch to drive up Maruti’s market share, Rising share of EVs in exports to benefit average selling price.

NOMURA ON TATA STEEL:

Target Rs 215 Recommendation Buy, Wings of Steel, Strong growth in India, turnaround in Europe, Improving macros suggest significant upside potential, Poised for sustainable growth and margin upside.

UBS ON TITAN:

Target Rs 4700 Earlier Target Rs 3600 Recommendation Buy, Time to re-jewel your portfolio, Titan is on the cusp of a major rebound, Titan is a structural winner, Lab-grown diamonds threat is manageable.

INVESTEC ON UNITED BREWERIES:

Target Rs 2081 Recommendation Hold, Heineken’s India commentary – Q2 revenue to exceed estimates, UBL sees price-mix led mid-single digit growth in Q2, Volume growth in-line; price-mix aids topline growth.

International Markets:

U.S & Europe:

*As per 23^rd October.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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