Market View 11th Dec, 2024

View on market: Volatility Prevails, Market is searching for better value

Asian markets showed mixed movements as investors awaited U.S. inflation data, which could influence the Federal Reserve’s decision on interest rates. Wall Street saw a cautious start, with two of its major indices making slight gains. In India, the stock markets ended the day on a quiet note after two consecutive sessions of declines. The Nifty and Sensex moved within a narrow range during the day, with both indices recovering some of their losses before closing nearly flat. Earlier in the session, both benchmarks had dropped notably but managed to pare back much of their intraday declines by the close. Global markets remained subdued as traders focused on upcoming economic data and policy signals. Investors showed restraint in their trading decisions, reflecting the uncertainty surrounding the Federal Reserve’s next move and its impact on the broader economic environment.

Economic Calendar:

• USD: CPI Index (MoM) (Nov) on 11th December 2024.
• IND: CPI (YoY) (NoV) on 12^th December 2024.
• USD: PPI (MoM) (NoV) on 12th December 2024.
• IND: WPI Inflation (YoY) (Nov) on 13^th December 2024.

 

IPO Watch:

Brokerage Radar:

AXIS CAPITAL ON INFOSYS:

Upgrade Infosys to ADD (from REDUCE) and revise target price to Rs 2,050 (from Rs 1,790),  Set to regain Tier 1 growth mantle in FY26, Raise the target PER to 26x (from 23x), Margins have seen some stability despite large deal ramp-ups aided by execution-related gains from Project Maximum.

INVESTEC ON WIPRO:

Reiterate Sell; target price at Rs 290, Expects improved capital allocation and shareholder payouts, Stock could see limited downsides from where it is, Considering Wipro has US$6.1b in cash,  Likely that the new policy could be in line with peers.

GOLDMAN SACHS ON DMART:

Target price drops to Rs 3,425 (from Rs 4,000). maintain SELL, D-Mart’s competitive moat is facing increasing pressure, Cut FY25/26/27 earnings estimates by 4.2%/6.2%/6.1%, Price discount offered by D-Mart for basket of grocery produce has increased from a range of ~15% over MRP in Jul’24 to ~25% over MRP in Dec’24.

International Markets:

U.S & Europe:

*As per 11^th December.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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