Market View 02nd September, 2026

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

Global markets remained under pressure as rising crude oil prices increased concerns over inflation and higher interest rates. Asian markets traded lower, with investors worried that expensive energy could force central banks to maintain or tighten their monetary policies. Higher oil prices also pushed global bond yields higher, adding to pressure on equities. US markets also opened and closed lower as renewed US-Iran tensions increased uncertainty. Investors remained cautious after recent comments from the Federal Reserve raised expectations of tighter monetary policy. Technology stocks faced stronger selling pressure, while the broader market also declined. European markets are expected to open weak, following the negative global cues. In India, the market ended largely flat as rising crude prices and geopolitical tensions weighed on sentiment. Banking stocks remained under pressure, while investors continued to monitor global developments and the outlook for interest rates.

Economic Calendar:

• USD: Export & Import, Initial & Continuing Jobless Claim, S&P Global Composite & Services PMI and ISM Services PMI Data on 03^rd September 2026.
• IND: S&P Global Services and Composite PMI on 03^rd September 2026.
• USD: Unemployment Rate on 04^th September 2026.
• IND: Foreign Reserves Data on 04^th September 2026.

BROKERAGE

GOLDMAN SACHS ON AU SMALL FINANCE BANK:

Maintains BUY with target price of ₹1,270, Reiterates loan growth guidance at 2 to 2.5x nominal GDP, Refrains from margin guidance and flags moderation over the next few years, Asset quality remains benign, with credit cost guidance reiterated, Holds FY27 credit cost guidance at 90 bps of assets, Says the bank is adequately capitalised for a year’s growth and is in no rush to raise funds mom, Reiterates FY27 RoA guidance at 1.8%.

GOLDMAN SACHS ON MOTHERSON:

Maintains NEUTRAL with target price of ₹158, Consumer electronics FY26 revenue at Rs 13 bn, with EBITDA margin at 8.2%, Margin expected to improve to mid-to-high teens as Plant 3 ramps up in 3QFY27, Aerospace backlog rises to $1.9 bn from $1.2 bn in FY24, Aerospace backlog spans Airbus, Boeing and Safran, Working to restore AD Industries margins to ed historical levels, Nexans, Dr Schneider and Yutaka deals expected to add Rs 200 bn in revenue, Copper cost inflation has been partly passed through to OEMS.

NUVAMA ON COAL INDIA:

Upgrades Coal India to HOLD, raises target price to ₹454 from ₹396, Expects volume recovery as power generation rises and coal imports remain lower, Coal India’s April-August 2026 volume grew 6.7% YoY, with stronger growth expected in H2FY27, Lower power plant inventories are expected to support restocking and coal demand, E-auction premium rose to 59% in August, supported by higher global thermal coal prices, Expects e-auction volumes to reach 100 MT annually in FY27E/FY28E, Raises FY27E/FY28E EBITDA estimates by 13%/8%, Higher employee costs from wage revisions may pressure profitability from FY28, Gasification, power and critical minerals remain long-term opportunities, with benefits expected in four-five years.

CITI ON L&T:

Target ₹4,650 Recommendation Accumulate, Robust Order Inflow Momentum Strengthens Medium Term Visibility, Order wins strengthen visibility further, Remains positioned for an execution recovery, Reasonable valuations.

International Markets:

U.S & Europe:

*As per 02^nd September.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

View on market: Volatility persists, eagerly searching for growth

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