Market View 20th April, 2026

View on market: Volatility persists, eagerly searching for growth:

Global equity markets showed a positive but cautious trend. US and European futures moved higher, reflecting optimism, while Asian markets opened mixed due to ongoing concerns about tensions in the Middle East. Investors remained watchful as uncertainty around geopolitical developments continued to influence sentiment. In Asia, some markets saw mild gains while others declined, indicating a lack of clear direction. Meanwhile, US markets recently experienced a strong rally, supported by easing concerns earlier, though fresh developments have again created uncertainty. Technology stocks, especially those linked to artificial intelligence, have been a major driver of recent gains. Indian markets also performed well, continuing their upward trend for another week, supported by global recovery and strong participation in broader markets. Consumer goods and energy stocks led the gains, while some IT stocks faced pressure due to weak outlooks. Overall, market sentiment remains cautiously optimistic, with investors closely tracking geopolitical updates and global cues.

Key Quarterly Results for Today:

AXITA, BINNY, GROWW, INDBANK, JUPITERIN, MAHABANK, NAVKARCORP, NELCO, PNBGILTS, PNBHOUSING, SMLMAH, UGROCAP, WAAREEINDO.

Economic Calendar:

• USD: ADP Employment and Retail Sales Data on 21^st April 2026.
• IND: Infrastructure Output Data on 20^th April 2026.
• USD: Continuing & Initial Jobless Claim and S&P Global Manufacturing and Services PMI Data on 23^rd April 2026.
• IND: HSBC Manufacturing and Services PMI Data on 23^rd April 2026.

BROKERAGE RADAR:

CITI ON CONCORD BIOTECH:

Target ₹1190 Earlier Target ₹1680 Recomm Neutral, Cut FY26/27 EPS by 20-23%, Primarily reflects a deceleration in both API and formulations revenues, This has subsequently led to a compression in EBITDA margins, Slowdown also owing to adverse competitive dynamics in certain products, Lower FY27-28 revenue growth forecasts from 17-18% to 14% YoY.

MORGAN STANLEY ON ICICI BANK:

Target ₹1705 Recommendation Overweight, Q4: Solid quarter; Preferred play among India financials, PAT beat estimates by 7%, largely driven by lower provisions, Core PPOP was 1% above estimates, reflecting higher NII, Adjusted NIM dipped 2 bps quarter-on-quarter to 4.27%, Loan growth accelerated to 16% vs. 10% in Q2FY26, Resilience with growth amid geopolitical uncertainties.

BOFA ON HDFC BANK:

Target ₹950 Recommendation Buy, Healthy quarter; loan growth trajectory in focus, Healthy demand and lower LDR to support growth in FY27, Healthy growth, better NIM and lower provisions, Robust deposit growth, pickup in loan growth, Asset quality metrices remain benign, credit cost declined.

HBSC ON BIOCON:

Target ₹425 Recommendation Buy, Biocon has prepared a strong foundation of growth after reducing debt-burden and simplifying corporate structure, Management focus remains on execution of new biosimilar launches and improving profitability and cash flows, Market share gain for new biosimilar launches is the key catalyst.

International Markets:

U.S & Europe:

*As per 20^th April.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

View on market: Volatility persists, eagerly searching for growth

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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