Market View 21st Jan, 2025

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

Stocks in the Asia-Pacific region advanced on Tuesday after US President Donald Trump resisted imposing any trade tariff in his inaugural speech, while promising a “golden age” for America. Asian currencies strengthened after Bloomberg’s dollar gauge slid more than 1% Monday. The dollar index — which tracks the greenback’s performance against a basket of 10 leading global currencies — was 0.92% down at 108.34. Bitcoin traded above the $102,000 mark. Trump promised to sign a series of executive orders, including a national energy emergency, promising to “drill baby drill”. The president held off on unveiling China-specific tariffs, triggering a decline in the US dollar lower and US stock futures higher. The NSE Nifty 50 and BSE Sensex recorded their second best session in 2025 on Monday. The S&P BSE Sensex index closed 454 points, or 0.59% up, at 77,073.4, while the NSE Nifty 50 was 141 points or 0.61%, higher at 23,344.75

Key Today’s Q3 Results

Dalmia Bharat, Tata Tech, Aditya Birla Fashion, Servotec

Economic Calendar:

• USD: Initial and Continuing Jobless Claims on 23^rd January 2025.
• IND: S&P Global Manufacturing, Service PMI (Jan) on 24^th January 2025.
• USD: S&P Global PMI on 24th January 2025.
• IND: Federal Fiscal Deficit (Dec) on 31^st January 2025.

IPO Watch:

Brokerage Radar:

BOFA ON ZOMATO:

Reiterate Buy, target price at ₹375, Zomato’s Q3 numbers missed consensus estimates on EBITDA/EPS, Blinkit’s adjusted EBITDA loss stood at ₹103 crore, Management attributed higher losses to faster expansion, Guides for Blinkit losses to continue for the next 1-2 quarters but expects 100%+ GOV growth for FY25 & FY26, Food revenue growth at 17% was lower than estimated.

CITI ON AAVAS FINANCIERS:

 Maintain Buy, target price ₹2,170, Open 90-day positive catalyst watch, and Relative preference for secured financiers in Q3,Estimate strong sequential AUM growth of 5% in Q3, Anticipate higher CLSS subsidy in the upcoming budget, Normalization of disbursements  expected.

CITI ON HINDALCO

Resume coverage with Buy, target price ₹725, Top pick in the metals space, Most concerns, including Bay Minette capex, priced in, Stock underperformed domestic non-ferrous, global aluminum producers, and LME for the last six months, Tailwinds include LME upside in H2FY25 and Novelis’ diversification efforts

International Markets:

U.S & Europe:

*As per 21^th January.

* Nasdaq and dow are of 18Jan 2025

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing 

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