Market View 17th August, 2026

View on market: Volatility persists, eagerly searching for growth:

Asian markets traded higher as softer US inflation data and lower oil prices raised expectations that the Federal Reserve may keep interest rates unchanged next month. South Korea led gains, while Japan also moved higher, although Hong Kong remained under pressure. US markets extended their rally after fresh data showed signs of cooling inflation. Lower bond yields and reduced expectations of a rate hike supported investor sentiment. The S&P 500 closed at a record high, while technology stocks also posted strong gains. Indian markets ended mixed as global cues continued to influence sentiment. Metal and PSU banking stocks remained under pressure, while realty and FMCG stocks performed better. Overall, domestic markets remained cautious, with investors closely watching global inflation trends, interest-rate expectations and sector-specific movements.

Economic Calendar:

• USD: NY Empire State Manufacturing Index on 17^th August 2026.
• IND: Unemployment Rate on 17^th August 2026.
• USD: Industrial Production and Export & Import Data on 18^th August 2026.
• IND: RBI MPC Meetings Minutes on 19^th August 2026.

BROKERAGE RADAR:

CITI ON HITACHI ENERGY:

Target ₹46700 Recommendation Accumulate, Hosted Hitachi Energy India for investor meetings, Order Book-to-Revenue of 3.5x as of Q1FY27 provides strong multi-year execution visibility, Company is well-placed to capture the next wave of grid investment, Foray into Data Centers and BESS broadens the total addressable market, 65% commodity cost pass-throughs underpin margin resilience.

CITI ON KALYAN JEWELLERS:

Target ₹800 Recommendation Accumulate, Hosted Kalyan Jewellers’ senior management for investor meetings, Recent demand trend continues to remain strong and at least 10% SSG is achievable in the medium to long term, Old-gold exchange is gross margin dilutive, although cash-for-gold is margin accretive and will help in mitigating the impact of old gold exchange, Expect around Rs 350-400 cr from land sales, inluding Rs 100 cr by Sep’26, On track to become debt free by Sep’26.

CITI ON M&M:

Target ₹4260 Recommendation Accumulate, Launch of BE6 SPORTEQ: Extension of BEV Portfolio With Enhanced Tech Features and BaaS Offering, M&M continues to gain market share with its BEVs, BE6, XEV 9E and XEV 9S, have seen positive response, New models will augment M&M’s growing market share in EVs as the company is also expanding capacity.

JPMORGAN ON PHYSICSWALLAH:

Target ₹148 Recommendation Overweight, Q1 print beats; maintained its guidance of 30% revenue growth in FY27, To divest its NBFC arm FinZ Finance due to its focus on building the core education platform rather than a lending business, Stock down 18% in last 1-month on worries surrounding NEET exam delays.

International Markets:

U.S & Europe:

*As per 17^th August.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

Source: Moneycontrol, Bloomberg Quint, Investing

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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