Market View 18th Dec, 2024

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

Asian shares struggled to find a clear direction after Wall Street saw a slight decline, with traders awaiting the Federal Reserve’s final policy decision of the year. In the US, retail sales showed strong growth in November, reflecting consumer resilience, but industrial production unexpectedly fell for the third consecutive month. As the Fed’s decision approaches, a quarter-point interest rate cut is widely expected, but uncertainty remains about future moves, especially with the potential for inflationary import tariffs from the incoming administration. On Tuesday, major Indian stock indices saw significant losses, following weak global cues ahead of the Fed’s meeting. The NSE Nifty and BSE Sensex both ended sharply lower. Investors are focused on how the Fed will act and how this will affect global markets and economies in the near future.

Economic Calendar:

• USD: FOMC Press Conference on 18th December 2024.
• IND: Foreign Reserves (USD) on 20^th December 2024.
• USD: GDP Price Index (QoQ)  (Q3) on 19th December 2024.
• IND: Federal Fiscal Deficit (Nov) on 31^st December 2024.

 

IPO Watch:

Brokerage Radar:

GEOJIT ON VODAFONE IDEA:

Maintain Hold, target price at Rs 8.6, Co expects the impact of the tariff increase to continue to be seen in ARPU and revenue for the next two quarters, Subscriber base to grow with the expansion of its 4G coverage and roll-out of 5G in key geographies Q4FY25 onwards.

NIRMAL BANG ON EV:

Noticed a large influx of smaller players looking to enter the market as EV adoption has reached 7.5% of overall vehicles sold, EV market is experiencing fragmentation with new entrants targeting diverse segments, with reduced subsidies and growing competition, the market is set to consolidate around larger.

NUVAMA ON COROMANDEL:

Upgrade to Buy from Hold, target price to Rs 2347,  Disciplined capital allocation, robust return ratios and growth in adjacencies merit a valuation premium, Revising FY26E/27E EPS upward by 2%/4%,  Felt optimistic due to backward integration that could boost EBITDA/ton by 40% (INR6,000-7,000/).

International Markets:

U.S & Europe:

*As per 18^th December.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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