Market View 18th Sept, 2024

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

As traders anticipated the US Federal Open Market Committee’s policy decision, Asia-Pacific share indices recorded rises. A weaker yen helped the Nikkei 225 rise by 0.67% to 36,446.46. Additionally, there were little advances of 0.13% and 0.08% for the Kospi and S&P ASX 200, respectively. The Dow Jones Industrial Average dropped by 0.04% in the US, while the S&P 500 and Nasdaq Composite increased by 0.03% and 0.20%, respectively. Gold was up 0.17% to $2,573.88 while Brent crude oil was down 0.08% to $73.06 a barrel. The Nifty and Sensex in India experienced slight rises of 0.14% and 0.11%, respectively.

Economic Calendar:

• USD: Fed Interest Rate Decision 18^th September.
• IND: FX Reserves, USD on 20^th September.

IPO Watch:

Brokerage Radar:

CLSA ON BAJAJ AUTO:

Maintain Underperform with target price of Rs 7,000, Bajaj and Triumph launched two motorcycles positioned as entry-level motorcycle,  Believe the Speed T4 hits the right spot in terms of price and performance,  Launch looks promising but remain cautious on increasing competitive ou intensity in the premium motorcycle segment.

GOLDMAN SACHS ON L&T:

Maintain Buy with target price of Rs 3,700 Management remains constructive on the capex outlook in India, as well as Middle East, On capex-intensive private investments, management is seeing a revival in metals and mining sector.

CITI ON LTIMINDTREE :

Maintain Sell with target price of Rs 5,635,  Met CFO to understand senior level attrition trends, demand outlook, TCV trends, pricing, etc, Continues to reiterate that Q2 revenue growth trends will likely be similar to Q1, Margins will likely see continued pressure as growth is moderate and from cost takeout deals, Not seeing a pickup in discretionary spend – customers are selectively doing work on regulatory.

International Markets:

U.S & Europe:

*As per 18^th September.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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