Market View 21th March, 2025

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

Asian stock markets showed mixed performance on Friday as investors remained cautious about the US-China trade war. Japan’s market opened with small gains, while South Korea’s stocks declined, and Hong Kong’s futures were also lower. Australia’s market saw a slight increase. In the US, stock futures edged up after the S&P 500 closed slightly lower on Thursday. Investors were closely watching developments in trade policies and economic signals from the Federal Reserve. Indian stock markets ended at their highest level in over a month, driven by optimism after the US Federal Reserve indicated more interest rate cuts this year. The Fed also noted that inflation might rise temporarily due to US trade policies. Investors responded positively, boosting market sentiment. Overall, markets remained uncertain about global trade tensions, but central bank signals of policy support helped sustain some optimism. The focus remains on upcoming economic decisions that could influence market trends in the near future.

Economic Calendar:

• USD: Fed’s Balance Sheet on 21^st March 2025.
• IND: Foreign Reserves (USD) on 21^st March 2025.
• USD: S&P Global Services PMI (Mar) 24^th March 2025.
• IND: S&P Global Manufacturing and Services PMI on 24^th March 2025.

Brokerage Radar:

MOTILAL OSWAL ON PAYTM:

Maintain Neutral, target Rs 870 vs 950, Merchant business gaining traction; EBITDA to achieve breakeven by FY27E, Contribution margin to remain steady at 57% by FY27E, With 85% of GMV coming from merchants, Paytm maintains a robust market share in merchant business, though its UPI market SPOUT share has moderated, Estimate a 24% CAGR in GMV over FY25-27E.

NUVAMA ON VOLTAS:

Buy, Target Rs 1810, Voltas, in its business update conference call, indicated:, 35% revenue growth in RAC in Apr 24-Feb’25 (versus 30% industry growth), Misplaced concerns over recent market share loss in Jan/Feb, No specific comment on extent of compressor availability with it, but we draw comfort from its guidance of outstripping RAC industry growth in future (further market share gains) while focusing on absolute profit growth.

JEFFERIES ON IT:

Accenture’s Q2 Revenue Growth Was Healthy With Strong Growth in North America/BFSI A Positive, Weak Deal Bookings & Rising Pressures On Discretionary/Shorter Duration Deals Is a Negative, Accenture’s Revised Growth Guidance of 5-7% For FY25, Implies A Soft 2-4% YOY, Growth in H2FY25.

International Markets:

U.S & Europe:

*As per 21^thMarch.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing 

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