View on market: Volatility Prevails, Market is searching for better value
Stocks in the Asia-Pacific region fell on Monday due to concerns sparked by US President Donald Trump’s announcement of 25% tariffs on steel and aluminum. This decision added uncertainty to already volatile markets. Japan’s Nikkei and South Korea’s Kospi both saw declines, while future contracts in China suggested a potential positive start, though Hong Kong was expected to face losses. In the US, stocks dropped on Friday as the impact of tariffs weighed on investor sentiment, and concerns grew that the Federal Reserve might not cut interest rates soon. US job growth in January was weaker than expected, which further contributed to market declines. Indian stocks also struggled, with both the NSE Nifty 50 and BSE Sensex ending lower, impacted by the poor performance of major bank stocks. However, both indices saw positive weekly gains, and market participants focused on the Reserve Bank of India’s recent rate cut decision.
Key Today’s Q3 Results
BATAINDIA, CRISIL, EICHERMOT, ESCORTS, FORCEMOT, GALAXYSURF,
GENUSPOWER, HINDCOMPOS, HITECHCORP, HONDAPOWER, ICRA, JK AGRI, MPL, NEULANDLAB, PARNAXLAB, POWERMECH, SIGNATURE, STRATMONT, VBL, ZODIAC, VRL, VINDHYATEL, TPLPLASTEH.
Economic Calendar:
- USD: CB Employment Trends Index (Jan) on 10th February 2025.
- IND: CPI (YoY) (Jan) on 12th February 2025.
- USD: Mortgage Market Index on 12th February 2025.
- IND: WPI Inflation (YoY) (Jan) on 14th February 2025.
IPO Watch:
| Company |
Open |
Close |
Price |
View |
| Ajax Engineering Limited |
10-Feb |
12-Feb |
599-629 |
Apply |
| Hexaware Technologies Ltd |
12-Feb |
14-Feb |
674-708 |
Under review |
Brokerage Radar:
GOLDMAN SACHS ON LIC:
Maintain Neutral, target price ₹900, Q3FY25 below-growth impacted by new product regulations, Topline miss due to weakness in individual par business, Management expects focus on non-par products to continue, May lead to margin improvement in near term, ULIP category was strong.
GOLDMAN SACHS ON M&M:
Maintain Buy, target price ₹3,800 (from 13,700), Tractor guidance raised, Management expects ongoing strength in tractor volumes in Q4FY25/FY26, EV contract margins to make margins orange bound for standalone business.
GOLDMAN SACHS ON OLA ELECTRIC:
Maintain Buy, target price 101, Revenue above expectations-impact of post festive discounts lower than expectations, Upcoming Gen 3 portfolio will use more inhouse components, Lower average selling products would be in focus.
International Markets:
U.S & Europe:
| Particulars |
7th Feb |
Chg. |
Chg.(%) |
| Nasdaq |
19,525.23 |
-266.76 |
-1.35 |
| Dow |
44,303.40 |
-444.23 |
-0.99 |
| FTSE |
8,700.53 |
-26.75 |
-0.31 |
| CAC |
7,973.03 |
-34.59 |
-0.43 |
| DAX |
21,787.00 |
-115.42 |
-0.53 |
| Dow Fut.* |
44,396.77 |
95.37 |
0.22 |
*As per 10th February.
Asian markets:
| Particulars |
10th Feb |
Chg. |
Chg.(%) |
| GIFT Nifty |
23,563.50 |
-59.30 |
-0.25 |
| Nikkei |
38,746.96 |
-40.06 |
-0.10 |
| Straits Times |
3,875.92 |
14.50 |
0.38 |
| Hang Seng |
21,427.51 |
293.97 |
1.39 |
| Shanghai |
3,315.84 |
12.17 |
0.39 |
Stocks strong on Chart:
| Index |
F&O |
Cash |
| M&M |
BHEL |
RALLIS INDIA |
| TRENT |
NCC |
CEAT |
| BAJFINANCE |
BIOCON |
BEML |
| HEROMOTOCO |
BHARTIARTL |
MAX ESTATE |
| BEL |
TORNTPHARM |
NIPPON AMC |
| LT |
UPL |
MINDACORP |
Commodities & Currency:
| Particulars |
Current Price |
Chg.(%) |
| USD/INR |
87.888 |
0.30 |
| Brent |
75.24 |
0.78 |
| Gold |
84,900 |
0.54 |
| Silver |
95,285 |
-0.05 |
FIIs & DIIs:
| Particulars |
7th Feb |
6th Feb |
| FIIs |
-470.39 |
-3,549.95 |
| DIIs |
454.20 |
2,721.66 |
NEWS UPDATES
| L&T Finance: |
Has approved the acquisition of Paul Merchants Finance’s gold loan business through a slump sale for Rs 537 crore. |
| Waaree Energies: |
Has commenced operations at its 1.4 GW solar cell manufacturing facility in Gujarat. |
| Aditya Birla Fashion and Retail: |
Has entered into a pact with Fidelity for subscription of 3.95 crore shares of the company. |
| Rail Vikas Nigam: |
The company has emerged as the lowest bidder for railway project worth Rs 211 crore. |
| Tejas Networks: |
The company has collaborated with NEC Corp. on 5G technology. The investment involves Rs 525 crore, payable over the next year. |
Source: Moneycontrol, Bloomberg Quint, Investing
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