Market View 22nd April, 2025

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

Asian stock markets opened lower after the US President criticized the Federal Reserve Chair, raising concerns about the central bank’s independence. This created uncertainty and led to a drop in US markets. In contrast, Indian stock markets continued their positive momentum, gaining for the fourth day in a row and reaching their highest levels since early January. Several companies, including Mahindra Logistics, Pitti Engineering, and Tata Investment, released their quarterly earnings after trading hours. Among key business updates, Tata Power announced a partnership in the renewable energy space. Hindustan Unilever moved to acquire skincare brand Minimalist. Paytm Money updated its pricing model, and the government introduced a safeguard duty to regulate steel imports. The global pressure from the US markets contrasts with India’s local corporate activity and market optimism, suggesting investors are focusing on domestic developments despite international concerns.

Key Q4FY25 Financial Results for Today

AUBANK, CDG, CELLA, CHOICEIN, CISTRO, CYIENTDLM, DELTACORP, HATHWAY, HAVELLS, HCLTECH,    HUHTAMAKI, JMJFIN, M&MFIN, SAMPANN, TATACOMM, VSSL, WAAREEENER.

Economic Calendar:

• USD: IMF Meetings on 22^nd April 2025.
• IND: S&P Global Manufacturing (Apr) on 23^rd April 2025.
• USD: S&P Global Manufacturing & Services PMI on 23^rd April 2025.
• IND: S&P Global Service PMI (Apr) on 23^rd April 2025.

Brokerage Radar:

MS ON STEEL:

Imposition Of Safeguard Duty Is A Positive Development, Removes Multiple Months Of Overhang Around Safeguard Duty Imposition, May See Some Positive Stock Reaction In The Near-term, Domestic HRC Prices Are Currently At 18% Premium Vs Import Parity Levels, Even After Imposition Of Safeguard Duty.

NOMURA ON ICICI BANK:

Maintain Buy with target price at ₹1690 vs 1575, Steady margins and asset quality; loan growth was a tad soft, ICICI’s sector-leading delivery across all parameters, Expect ICICIBC to deliver sector-leading 2.2-2.3% RoA and ~16-17% RoE over FY26-28F, See premium valuations sustaining.

JEFFERIES ON BANKS:

RBI Has Eased LCR Norms Vs Original & Draft With Lower Run-off On Deposits From 100% To 40%, Lower Run-off On Digital Deposit Vs First Draft (Nil Currently), Val Of G-Secs Is Being Tightened, Per RBI, These Will Release 6% Of Liquidity From Apr 1, 2026.

International Markets:

U.S & Europe:

*As per 22 ^ndApril.
**As per 17 ^thApril.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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