Market View 12th Sept, 2024

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

Most of Asian-Pacific markets rose, driven by positive overnight gains on Wall Street following US inflation data. The Nikkei 225 climbed 3.31% to 36,800.53, and the Kospi gained 1.29% to 2,545.88. Core US CPI rose 0.3% in August, slightly above expectations, and 2.5% annually. In the US, the S&P 500 and Nasdaq Composite increased by 1.07% and 2.17%, respectively, while the Dow Jones rose 0.31%. Brent crude and gold prices were up 0.34% to $70.85 per barrel and 0.08% to $2,513.73, respectively. Indian equity indices, however, fell on Wednesday, with the NSE Nifty 50 and S&P BSE Sensex dropping by 0.49% each, amid anticipation of US inflation data.

Economic Calendar:

• USD: Initial Jobless Claims session on 12^th September.
• IND: CPI (YoY) on 12^th September

 

IPO Watch:

Brokerage Radar:

MORGAN STANLEY ON TATA STEEL:

Maintain Underweight with target price of Rs 135, UK Business Restructuring Update,  Believe this is a positive development,  Limited clarity on renewed discussions with government has been an overhang, Await clarity on whether there is any additional financial support for affected employees.

JEFFERIES ON ENTERO HEALTHCARE:

Maintain Buy with target price of Rs 1510, Reiterated FY25 revenue growth guidance of 35-40%,  Recent acquisitions should reflect from Q3, Confident of improving Ebitda margins beyond 5% through scale benefit and operating leverage.

JEFFERIES ON MGL:

Maintain Buy; Hike target price to Rs 2120 from Rs 1990,  Remains on the Growth Path, Volume growth outlook is improving on accelerating outlet additions and healthy industrial vol growth, Falling APM gas allocation is a structural headwind for CGDs.

International Markets:

U.S & Europe:

*As per 12^th September.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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