Market View 17th Jan, 2025

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

Stock markets in the Asia-Pacific region showed mixed results. Japan’s Nikkei 225 fell, while Australia’s S&P/ASX 200 edged higher. South Korea’s Kospi also declined slightly. In the US, major indices ended lower, with the S&P 500, Dow Jones, and Nasdaq all slipping. The S&P 500 fell modestly, while the Dow Jones and Nasdaq saw minor declines. Futures for these indices showed little movement, with the S&P 500 and Dow futures flat and Nasdaq futures decreasing slightly. On the other hand, India’s stock markets continued their positive momentum. The NSE Nifty 50 and the Sensex both saw steady gains, continuing their upward trend for the third consecutive day. The Indian markets’ strong performance stood in contrast to the downturns in the US and Asia-Pacific markets. Overall, global markets experienced mixed movements, with US and Asian indices losing ground, while Indian stocks remained resilient and showed positive growth.

Key Today’s Q3 Results

5PAISA, ICICIGI, INDHOTEL, JIOFIN, RALLIS, RKFORGE, SBILIFE, STLTECH, TECHM, WIPRO, AETHER, AMAL, ATLASCYCLE, CEWATER

, EXCEL, SWARAJENG, VINYLINDIA, DELTA, GANESHHOUC, GUJHOTE.

Economic Calendar:

• USD: Initial and Continuing Jobless Claims on 23^rd January 2025.
• IND: Foreign Reserves (USD) on 17^th January 2025.
• USD: S&P Global PMI on 24th January 2025.
• IND: S&P Global Manufacturing, Service PMI (Jan) on 24^th January 2025.

IPO Watch:

Brokerage Radar:

CITI ON AADHAR FINANCING:

Initiate Buy, target price ₹565, Consistent AUM growth at >16% CAGR over 4-6 years, Strong scale with granular, diversified distribution, Enhanced tech stack boosts productivity and analytics Expected 22% PAT growth in FY24-27E and RoE scaling to 16.5%, Risks include promoter dilution and rising informal self-employed borrower share.

UBS ON HAVELLS:

Maintain Buy, target price ₹2,145 ,Weak B2C margins reflect slower consumer demand recovery, Potential pricing impact could lead to earnings downgrades, Positive outlook for KEI and Polycab from 250bps QoQ margin gain in cables.

MACQUARIE ON LTI-MINDTREE:

Maintain Outperform, target price ₹7,100, Record deals with broad-based client growth, Productivity benefits impacted top Hi-Tech customer, EBIT margin declined 170bps QoQ due to wage hikes Management expects CY25E to outperform CY24 with improving demand.

International Markets:

U.S & Europe:

*As per 17^thJanuary.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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