Market View 16th Dec, 2024

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

Asian stocks traded within narrow ranges on Monday as investors awaited important economic data from China. This comes after China’s regulators pledged to stabilize the markets, adding a layer of cautious optimism. Last Friday, U.S. stocks ended on a positive note, with the S&P 500 and Nasdaq both showing gains. These gains marked the fourth consecutive week of growth for major U.S. stock indices, despite a volatile trading session. In India, both the NSE Nifty 50 and BSE Sensex also ended the day higher, continuing a positive trend. The market’s resilience reflects optimism among investors, but there remains uncertainty as traders await further economic signals, particularly from China. The outlook for the coming weeks will depend on how global economic conditions, especially in China, evolve and how regulators’ actions impact investor sentiment.

Economic Calendar:

• USD: FOMC Press Conference on 18th December 2024.
• IND: WPI Inflation (YoY) (Nov) on 16^th December 2024.
• USD: GDP Price Index (QoQ)  (Q3) on 19th December 2024.
• IND: Foreign Reserves (USD) on 20^th December 2024.

 

IPO Watch:

Brokerage Radar:

NIRMAL BANG ON DATA PATTERNS:

Maintain Buy, target price at Rs 2997,  Vijay Ananth K, Whole Time Director, COO, and Chief Information Security Officer, is expected to lead Data Patterns in the future,  Like the company due to its strong in-house R&D capabilities and deep domain knowledge in radars, electronic warfare etc.

MACQUARIE ON L&T:

Maintain Outperform; 12 Month target price of Rs 4210, Middle East working capital terms continue to be favourable, Have moved senior management personnel to Middle East, Domestic state capex-L&T remains selective,  Domestic central government capex expected to pick up in H2.

SYSTEMATIX ON MARKETS:

Markets sentiment lack conviction, Sector rotation being seen, US economy remains solid, may pause Fed’s rate cuts, Nifty EPS projections expected to be moderated (FY25-27 at 11% CAGR), Services sector to perform better than marketing, Top picks- HDFC Bank, Muthoot Finance, Berger Paints, Marico, Hindalco, Gulf Oil, GAIL, Sun Pharma, NALCO, CIPL.

International Markets:

U.S & Europe:

*As per 16^th December.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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