Market View 20th October, 2025

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

Asian markets opened on a positive note on Monday after two weeks of declines, supported by improving trade relations between major economies. Regional stocks moved higher, with Japan leading the gains after a weak finish on Friday due to concerns over US regional banks. In the US, investor sentiment remained firm after a strong close last week. Futures trading showed continued strength, with key indices indicating a steady start to the new week. European futures, however, reflected a slightly weaker tone during Asian trading hours. The domestic market extended its winning run for the third straight session. The benchmark indices closed higher after a strong performance during the day. Consumer-focused sectors such as FMCG and consumption led the gains, while technology and media stocks came under pressure. Nestle India and Asian Paints were among the top performers, helping lift overall market sentiment. The mood remained optimistic as investors looked past recent concerns.

Key Quarterly Results for Today:

GEOJITFSL.

Economic Calendar:

• USD: Core PPI (Sep) on 24^th October 2025.
• IND: S&P Global Services PMI (Oct) on 24^th October 2025.
• USD: S&P Global Manufacturing PMI (Oct) on 24^th October 2025.
• IND: S&P Global Manufacturing PMI (Oct) on 24^th October 2025.

IPO Watch:

Brokerage Radar:

JEFFERIES ON HDFC BANK:

Target Rs 1240 Earlier Target Rs 1200 Recommendation Buy, Sep Qtr: Better Topline Aids Earnings Upgrade, Better loan growth and outlook of improving margins, Asset quality improves aided by corporate recovery.

MORGAN STANLEY ON ICICI BANK:

Target Rs 1800 Recommendation Overweight, Well managed NIM; see faster growth ahead, Bank has navigated system asset quality and profitability challenges well, Delivered NIM of 4.3% in Q2 despite 100 bps of repo rate cuts.

MORGAN STANLEY ON JSW STEEL:

Target Rs 1300 Recommendation Overweight, Q2 results: good operating numbers, Standalone EBITDA was 6% below estimate; Consolidated EBITDA was in line, Believe this is the trough of margins, with steel prices expected to rise from here.

JEFFERIES ON RIL:

Target Rs 1780 Earlier Target Rs 1785 Recommendation Buy, Consol EBITDA was 4% above estimate with Retail 8% above and Media’s strong contribution, Core Retail grew 22% YoY, expect momentum to sustain in Q3 likely allaying a key investor concern, Jio’s revenue missed but Ebitda was inline with strong home broadband traction.

International Markets:

U.S & Europe:

*As per 20^th October.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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