Market View 10th June, 2025

View on market: Volatility persists, eagerly searching for growth

Asian stock markets opened higher, lifted by optimism over progress in US-China trade talks. Officials from both countries struck a positive tone after the first day of meetings in London, although no major agreements were announced. US representatives shared a hopeful outlook, helping boost investor confidence early in the session, though some gains were later lost. Meanwhile, fresh data showed that Chinese exports to the US fell sharply, highlighting the real effects of ongoing trade tensions. In India, stock markets continued their upward trend for the fourth day, supported by positive signals from global markets and strong US employment data. In the US, the market saw small gains, with Tesla’s stock rising after President Trump showed support for Elon Musk. In contrast, Apple’s shares fell slightly after its developer event, which didn’t reveal any major updates on artificial intelligence. Trade discussions between the US and China will move into a second day, with both sides hoping to ease issues related to technology and rare earth materials.

Economic Calendar:

• USD: Core CPI (MoM) (May) on 11^th June 2025.
• IND: CPI (YoY) (May) on 12^th June 2025.
• USD: PPI (MoM) (May) on 12^th June 2025.
• IND: Import and Export Data on 13^th June 2025.

IPO Watch:

Brokerage Radar:

MORGAN STANLEY ON MAHANAGAR GAS:

Remains Overweight with target price of Rs 1,797, Company plans to add 80 new CNG stations (vs. 66 stations in F25), Growing opportunities in transport and industrial sector, India should lead the adoption curve to absorb the rising US natural gas exports – with MGL.

JP MORGAN ON PIDILITE:

Maintains overweight with target price of Rs 3,300, Positive demand outlook aided by macro tailwinds though near-term weather disruptions remain a risk, Aims to deliver double-digit underlying volume growth with value growth, Benign raw material prices should help to maintain the EBITDA margin at the upper end of the 20-24%.

CITI ON BRITANNIA:

Retains buy revises target price to Rs 6,500 (vs. Rs 6,200 earlier), Marginally raises FY26-28E earnings estimates for Britannia by 0-1%, Tweaks margin assumptions higher, Expects profitability expansion driven by lower commodity costs.

JP MORGAN ON COFORGE:

emains Overweight with target price of Rs 2,080, Confident about industry leading growth while sharply expanding margins, Management was bullish with no signs of any of the macro concerns plaguing peers.

International Markets:

U.S & Europe:

*As per 10^th June.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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