View on market: Volatility persists, eagerly searching for growth

US equity futures rose after the S&P 500 and Nasdaq 100 ended at record highs on Thursday. Strong retail sales in June helped ease fears about a slowdown in consumer spending and gave confidence in the strength of the US economy. All major US indices closed higher, with the S&P 500 briefly crossing a key psychological level. In India, markets ended lower on Thursday after two days of gains. Major stocks like Infosys and HDFC Bank dragged the indices down. The Nifty 50 struggled to break through a resistance level due to options trading activity on expiry day. In Asia, stocks opened with small gains on Friday, following the global rally. Investors were encouraged by solid US economic data, which helped reduce worries about a slowdown and boosted overall market sentiment. The broader mood in markets is positive, with hopes that the strong data will support continued growth.

Key Quarterly Results for Today:

3IINFOLTD, AAPLUSTRAD, AARTIDRUGS, ALKALI, ARCEEIN, BANDHANBNK, HINDZINC, ICL, INDBANK, INDIAMART, IOB, JAYNECOIND, JSWSTEEL, LTF, MASTEK, RELIANCE, ROSELABS, TECHKGREEN, WAAREEINDO.

Economic Calendar:

• USD: Initial and Continuing Jobless Claims Data on 24^th July 2025.
• IND: Bank Loan and Deposit Growth Rate on 18^th July 2025.
• USD: S&P Global Manufacturing PMI (July) on 24^th July 2025.
• IND: Foreign Reserves USD on 18^th July 2025.

IPO Watch:

Brokerage Radar:

MACQUARIE ON TATA COMMUNICATIONS:

Maintain Outperform with TP of Rs 2300, Mild Q1 miss: Digital Portfolio growing; Others soft, Find quarterly calibration for multi-segment B2B businesses challenging, Q1 results on its own present mild downside to our forecast, Still see clear revenue-side growth levers to drive 300 bps EBITDA margin expansion.

JEFFERIES ON INDIAN HOTELS:

Maintain Buy; Cut TP to Rs 960 from Rs 980, Decent performance in turbulent quarter Mgmt maintained double digit rev growth guidance for FY26 and healthy Q2, IHCL is adding rooms at ~12% CAGR over next 5 years, with several greenfield assets also contributing to growth.

MORGAN STANLEY ON HDFC AMC:

Maintain Equal-weight; Hike TP to Rs 4910 from Rs 4470, Q1: good quarter, Operating profit was in-line, though revenue yields were better, HDFC AMC benefits from its FY25 commission rationalization efforts, Find valuation expensive from a longer-term perspective.

MACQUARIE ON AXIS BANK:

Maintain Outperform with TP of Rs 1450, Q1 results: PAT miss driven by higher credit costs, High credit costs concerning, partially affected by policy change, Growth aspirations onerous; downside risks persist for our ROA estimates.

International Markets:

U.S & Europe:

*As per 18^th July.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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