Market View 31st October, 2025

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

Asia, markets ended mixed. Japanese shares rose on strong domestic sentiment, while Chinese markets weakened following disappointing factory data. The broader regional index posted modest gains, supported by strength in select sectors but capped by a stronger dollar and ongoing doubts about potential US rate cuts. In the United States, stocks declined as traders reacted to mixed earnings from major technology companies and the outcome of the meeting between the American and Chinese presidents. The mood remained subdued as investors weighed the impact of slowing growth and uncertainty around future monetary policy. Indian markets ended lower on Thursday as selling pressure dragged both major indices below key levels. Investors turned cautious amid weak global cues and concerns about interest rate trends. Overall, global equity sentiment stayed cautious as investors balanced optimism over corporate earnings against concerns about economic slowdown and central bank actions.

Key Quarterly Results for Today:

ACC, APTUS, BAJAJELEC, BALKRISIND, BANKBARODA, BEL, BPCL, CMICABLES, EMKAY, EQUITASBNK, GAIL, GODREJCP, HEUBACHIND, JUBLPHARMA, KPIL, LALPATHLAB, MARUTI, NOCIL, NORTHARC, PATANJALI, PHOENIXLTD, RRKABEL, SAMMAANCAP, SHRIRAMFIN, VEDL, ZENOTECH, ZENSARTECH.

Economic Calendar:

• USD: Core PCE Price Index Data on 31^st October 2025.
• IND: Bank Loan and Deposit Growth Rate on 31^st October 2025.
• USD: S&P Global Manufacturing PMI (Oct) on 03^rd November 2025.
• IND: Foreign Reserves (USD) on 31^st October 2025.

IPO Watch:

Brokerage Radar:

MACQUARIE ON SWIGGY:

Target Rs 285, Growth, margin improvement, still high losses, Swiggy sustained its growth trajectory across segments, Reduction in quick commerce losses, albeit still high, Overall platform EBITDA losses remain >US$500 million (annualised).

CITI ON DABUR:

Targe Rs 475 Recommendation Sell, In-line Q2; Growth challenges persist across key categories, Expect slight acceleration in revenue growth in H2 off a low base, Will monitor potential recovery across categories that have been under pressure.

JEFFERIES ON CIPLA:

Target Rs 1,690 Recommendation Hold, In-line September Quarter, FY26 Ebitda Margin Revised Down, Management cut FY26 Ebitda margin guidance by 50-75bps due to higher R&D costs, Indicated a delay in achieving FY27 US sales of $1 billion due to probable delay in launches.

JEFFERIES ON TCS:

Target Rs 3,100 Recommendation Hold, TCS’ GW-scale foray into the rapidly growing India data center market will help diversify revenues, At peak, data center ops. may form approximately 3% of TCS’ revenues implying limited impact on overall growth.

International Markets:

U.S & Europe:

*As per 31^st October.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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