Market View 19th Feb, 2025

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

Asian stock markets mostly traded lower on Wednesday, driven by concerns over new tariff announcements from the US, which dampened investor sentiment. The Japanese Nikkei 225 remained flat, while Australia’s ASX 200 dropped slightly. On the other hand, South Korea’s Kospi saw a rise. In the US, the Dow Jones Industrial Average and S&P 500 both closed with small gains, while the Nasdaq Composite ended slightly higher as well. In India, key stock indices ended lower after recovering from earlier losses. While information technology and oil and gas stocks gained, sectors like consumer durables and automobiles faced pressure. The Nifty 50 closed slightly down, while the Sensex also finished lower, with both indices finding support after declining earlier in the day. The Nifty found crucial support around a key level, while the Sensex remained slightly above another critical point, showing some resilience despite broader market weakness.

Key Today’s Q3 Results

ACEMEN, HARCR.

Economic Calendar:

• USD: Initial Jobless Claims on 20^th February 2025.
• IND: M3 Money Supply on 19^th February 2025.
• USD: Reserve Balances with Federal Reserve Banks on 21^st February 2025.
• IND: S&P Global Manufacturing and Services PMI on 21^st February 2025.

Brokerage Radar:

CLSA ON TATA MOTORS:

Upgrade to high-conviction Outperform from Outperform, target price 930, Adverse near-term outlook gives scope to enter at a favorable valuation, JLR is presently trading at 1.2x FY27CL EV/EBITDA, way below its normative multiple of 2.5x, At the current price, the implied per-share value of JLR is ~320 vs target valuation of ₹450 per share in sum-of-the-parts valuation.

MACQUARIE ON INDIAN AUTO:

India’s two-wheeler exports are geographically well-diversified – LATAM and Africa accounted for 70% of exports by volume in FY24, Medium-term export potential with growing demand and market share gains in LATAM and Africa, along with E2W export potential.

HSBC ON MARUTI SUZUKI:

Maintain Buy, target price ₹14,000, E-Vitara specs vs price proposition seems favorable compared to European and even Chinese models, Import duty on Chinese CBU and other auto parts will provide some support to relative pricing for Suzuki EVs,  MSIL EV launch targets the affordable segment in European markets.

International Markets:

U.S & Europe:

*As per 19^thFebruary.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing 

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