Market View 14th Oct, 2024

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

Markets in the Asia-Pacific region posted some advancements as investors weighed their response to a briefing from the Chinese Ministry. As an aside, Japan’s markets were shut today. The Kospi was up by 0.75% and the S&P ASX 200 by 0.37%. They said that however unlike China, India’s standard stock market indexes fell two weeks in a row on Friday and Titan Co Ltd and Tata Steel Ltd were among the week’s most significant casualties.Markets in the Asia-Pacific region posted some advancements as investors weighed their response to a briefing from the Chinese Ministry. As an aside, Japan’s markets were shut today. The Kospi was up by 0.75% and the S&P ASX 200 by 0.37%. They said that however unlike China, India’s standard stock market indexes fell two weeks in a row on Friday and Titan Co Ltd and Tata Steel Ltd were among the week’s most significant casualties. The worst losses in Indian markets were dominated by banking stocks and Tata Consultancy Services Ltd. However, the US stock market edged slightly up on the last trading day on Friday, lifted partly by unchanged – hence, lowinalg – Wholesale Prices in September indicating that there is no strong inflation pressure in the US economy as of yet.

Economic Calendar:

• USD: Export and Import Price Index (Sep) on 16th October 2024.
• IND: WPI Inflation (YoY) (Sept) on 14th October 2024.
• USD: Fed’s Balance Sheet on 17th October 2024.
• IND: Bank Loan and Deposit Growth Rate on 18th October 2024.

IPO Watch:

Brokerage Radar:

EMKAY ON METALS:

Hindalco – Initiate Reduce with target of Rs 650,  Hindalco’s stock pricing-in all positives, not convinced about playing the Bay Minette capex, Vedanta – Initiate Buy with target of Rs 600, Vedanta’s demerger to a positive, pureplays trade at a premium,  Vedanta’s project completions to aid.

KOTAK SECURITIES ON PHARMA SECTOR:

Indian Pharma Market posted growth of 8% YoY in Q2, driven by slower growth in acute therapies, After a relatively weak sales growth of 7.6% YoY in August 2024, September 2024 sales growth slipped further to 5.1% YoY, JB, Ipca, Glenmark and Ajanta growth leaders; GSK and Alembic lag in Q2.

HSBC ON OMCS:

Current volatility in oil prices is beneficial for OMCS,  Discourages any government interference in pump prices, Weakness in auto fuel price not surprising given above normal monsoons, Strong marketing margins offset weakness in GRMS,  Volatility in oil prices driven by geopolitical uncertainties, 400 Indian oil demand muted due to heavy rains.

International Markets:

U.S & Europe:

*As per 14^th October.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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