View on market: Volatility Prevails, Market is searching for better value
Stock markets in the Asia-Pacific region opened higher on Monday, showing resilience despite concerns over tariffs on Canada, Mexico, and China. Japan and Australia saw gains, while China and Hong Kong were expected to open lower. Investors in China are watching for potential economic stimulus as top officials meet to discuss economic priorities. The Chinese yuan has strengthened, and the country’s stock market has seen a notable rise this year. On Wall Street, markets ended a volatile session with strong gains. The S&P 500, Nasdaq, and Dow Jones all moved higher, while U.S. treasury yields continued their recent rally. In India, markets closed with significant losses on Friday. The Nifty 50 and Sensex dropped sharply, reaching their lowest levels in months. Both indices fell further during intraday trading before recovering slightly by the close. Investors remain cautious as they assess global economic trends and market conditions.
Economic Calendar:
- USD: S&P Global Manufacturing PMI (Feb) on 3rd March 2025.
- IND: S&P Global Manufacturing PMI (Feb) on 3rd March 2025.
- USD: Imports and Exports Data on 6th March 2025.
- IND: S&P Global Services PMI (Feb) on 5th March 2025.
Brokerage Radar:
UBS ON OMCS:
Crude in mid-$70s indicates healthy integrated margins, High crude premiums and narrow light-heavy spreads to impact profitability but with limited disruption, LPG under-recoveries continue, HPCL is the most leveraged for a government grant, IOCL – Maintain Buy, target price ₹180, BPCL – Maintain Buy, target price 365, HPCL – Maintain Buy, target price 430.
NUVAMA ON COAL INDIA:
Maintain Hold, target price ₹419, Coal India subsidiary, Northern Coalfields, announced the levy of ‘Singrauli Punarasthapan charge’ of ₹300 per ton on its entire volume from May 1, 2025, The cash inflow is likely to be widely used to fund the upcoming land acquisition and rehabilitation program at one of the mining areas in Singrauli over the next few years.
INVESTEC ON LIFE INSURANCE:
Upgrade ICICI Pru Life to Buy from Hold, target price at ₹725, Upgrade due to valuation comfort, Majority of headwinds are behind – clarity on taxation, surrender value tweaks, and easing competition from unlisted players, Expect listed private life insurers to deliver VNB growth of 13-16% over FY25E-FY28E.
International Markets:
U.S & Europe:
| Particulars | 28th Feb | Chg. | Chg.(%) |
| Nasdaq | 18,854.08 | 309.66 | 1.67 |
| Dow | 43,840.91 | 601.41 | 1.39 |
| FTSE | 8,809.74 | 53.53 | 0.61 |
| CAC | 8,111.63 | 9.11 | 0.11 |
| DAX | 22,551.43 | 0.54 | 00 |
| Dow Fut.* | 43,782.52 | -59.39 | -0.14 |
*As per 3rdMarch.
Asian markets:
| Particulars | 3rd Mar | Chg. | Chg.(%) |
| GIFT Nifty | 22,349.50 | 69.45 | 0.31 |
| Nikkei | 37,580.02 | 424.52 | 1.14 |
| Straits Times | 3,901.98 | 6.41 | 0.16 |
| Hang Seng | 23,271.55 | 330.23 | 1.14 |
| Shanghai | 3,343.63 | 22.73 | 0.68 |
Stocks strong on Chart:
| Index | F&O | Cash |
| TCS | NTPC | RALLIS INDIA |
| WIPRO | COALINDIA | CEAT |
| SHRIRAMFIN | HINDALCO | BEML |
| BHARTIARTL | BHEL | MAX ESTATE |
| BAJAJFINSV | BAJFINANCE | NIPPON AMC |
| INFOSYS | HCT TECH | MINDACORP |
Commodities & Currency:
| Particulars | Current Price | Chg.(%) |
| USD/INR | 87.371 | -0.11 |
| Brent | 73.52 | 0.98 |
| Gold | 84,202 | -1.17 |
| Silver | 92,854 | -0.04 |
FIIs & DIIs:
| Particulars | 28th Feb | 27th Feb |
| FIIs | -11,639.02 | -556.56 |
| DIIs | 12,308.63 | 1,727.11 |
NEWS UPDATES
| Dalmia Bharat: | The boards of directors of Dalmia Cement (Bharat) Ltd. and Dalmia Bharat Green Vision Ltd. have approved plans to expand their clinker and cement production capacities. |
| RailTel Corp: | Has received a work order worth Rs 26.4 crore from the Cuttack Development Authority. It has also secured another work order valued at Rs 37.2 crore from the Madhya Pradesh State Electronics Development Corp. |
| NCC: | as secured an order worth Rs 218.8 crore from a state government for the transportation division. This order does not include any internal contracts. |
| UltraTech Cement: | The company aims for an internal rate of return of approximately 25% and a return on capital employed exceeding 20% in its cables and wires business. |