View on market: Volatility persists, eagerly searching for growth

During early Wednesday trading in Asia, both US and European stock futures remained mostly unchanged. Asian markets opened mixed as investors reacted cautiously to weak US services data, which raised doubts about the Federal Reserve’s next policy move. Japanese stocks stayed flat, South Korean markets saw a decline, while Australian shares posted gains. The overall Asia Pacific market showed a slight upward trend. In the US, stock markets declined on Tuesday due to concerns over economic growth after data pointed to weakness in the services sector. Major indices such as the S&P 500, Nasdaq, and Dow Jones all ended the day lower. In Asia, Japan’s Topix index moved higher, while South Korea’s market declined and Australia’s rose. Futures for Hong Kong stocks indicated a slight gain. In India, the stock market ended lower after a positive start. Key stocks like Adani Ports, Reliance, and Infosys dragged the indices down, causing both major benchmarks to close in the red. Today, the The Reserve Bank of India is expected to announce its monetary policy today, likely keeping key interest rates unchanged. With inflation within the target range and growth concerns continuing, the central bank may maintain a cautious stance. Investors await cues on future policy direction and economic outlook from the RBI’s statement.

Key Quarterly Results for Today:

BAJAJ-AUTO, BAJAJHLDNG, BALMLAWRIE, BANSWRAS, BAYERCROP, BHARATFORG, BHEL, BLUECHIPT, CERA, DATAMATICS, DIVISLAB, GODREJAGRO, GPTHEALTH, HEROMOTOCO, HINDMILL, HINDMOTORS, HUDCO, IRCON, KPRMILL, LUMAXIND, PFC, PIDILITIND, POLYCHEM, PRINCEPIPE, PVRINOX, RAIN, RITES, SAMBHAAV, SKFINDIA, TCIFINANCE, TRENT.

Economic Calendar:

• USD: Crude Oil Inventories Data on 06^th August 2025.
• IND: Monetary Policy on 06^th August 2025.
• USD: Initial and Continuing Jobless Claim Data on 07^th August 2025.
• IND: Foreign Reserves (USD) on 08^th August 2025.

IPO Watch:

Company	Open	Close	Price (Rs/-)	View
Highway Infra Ltd.	05th Aug	07th Aug	65-70	Apply
JSW Cement Ltd.	07th Aug	11th Aug	139-147	Avoid

Brokerage Radar:

MACQUARIE ON BRITANNIA:

Maintain Underperform with TP of Rs 4850, Q1 EBITDA miss on weaker gross margin, Believe underlying 1Q volume growth was ~4%, Company’s comment pointing to a heightened competitive landscape across product categories.

GOLDMAN SACHS ON ADANI PORTS:

Maintain Buy; Hike TP to Rs 1510 from Rs 1480, Resilient port operations; Strong growth in logistics, Strong portfolio of port assets leverages it for market share gains, As Balance Sheet gets stronger, it positions Adani Port for more organic and inorganic growth opportunities.

MORGAN STANLEY ON BHARTI AIRTEL:

Maintain Equal-weight with TP of Rs 1890, Q1: Slight beat on India EBITDA, Consol net debt decreased partly because of reduction in capex and higher cash flow generation than expected, India mobile business ARPU trending in right direction at Rs 250.

CITI ON GLAND PHARMA:

Maintain Sell with TP of Rs 1680, Q1: Improvement in Cenexy Offsets Subdued Base-Line Business, Management was upbeat on Cenexy outlook, Commentary around GLP-1 Pen/Cartridge pickup may moderate Street expectations.

International Markets:

U.S & Europe:

*As per 06^th August.

Asian markets:

Particulars	06th  Aug	Chg.	Chg.(%)
GIFT Nifty	24,695.50	-12.30	-0.05
Nikkei	40,808.00	258.46	0.63
Straits Times	4,200.27	-8.31	-0.20
Hang Seng	24,778.00	-124.53	-0.50
Shanghai	3,618.87	1.27	0.24

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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