
View on market: Volatility Prevails, Market is searching for better value
Stocks in the Asia-Pacific region showed mixed results after a strong rally on Wall Street, which was driven by optimism around artificial intelligence initiatives from US President Donald Trump. The rally in tech stocks helped lift US indices close to their all-time highs, with the S&P 500 and Dow Jones showing gains, and the Nasdaq performing even better. In India, stocks also gained, especially in the technology sector, which helped push up key indices in the final hours of trading. The boost in the market was partly due to positive sentiment surrounding Trump’s plans for artificial intelligence, which eased some concerns about the impact of trade tariffs. As a result, the main Indian stock indices ended the day higher, reflecting optimism from the technology sector and the broader market. Despite the mixed performance in Asia-Pacific markets, the overall mood was positive due to global market trends.
Key Today’s Q3 Results
BPCL, ACGL, CGCL, INDUSTOWER, KFINTECH, ULTRACEMCO, IEX.
Economic Calendar:
- USD: Initial and Continuing Jobless Claims on 23rd January 2025.
- IND: S&P Global Manufacturing, Service PMI (Jan) on 24th January 2025.
- USD: S&P Global PMI on 24th January 2025.
- IND: Federal Fiscal Deficit (Dec) on 31st January 2025.
IPO Watch:
Company | Open | Close | Price | View |
Denta Water and Infra | 22-Jan | 24-Jan | 279-294 | Apply |
Brokerage Radar:
NOMURA ON PERSISTENT SYSTEMS:
Maintain Neutral, target price ₹6200, Resilient growth driven by strong execution, Margin improvement provides additional comfort, Deal wins decent, strong execution likely to deliver industry-leading growth, Delivers on margin improvement promise.
MACQUARIE ON POLYCAB:
Maintain Outperform, target price ₹7928, Strategic outlook implies 15% revenue growth FY25-30E, Asset turns of 3x on incremental revenue expected, Worst of margins for FMEG segment is behind, Constructive outlook due to strong demand from power sectors and exports for C&W.
JEFFERIES ON BPCL:
Maintain Buy, target price ₹370 (from ₹410), Q3 earnings miss, outlook better, valuations remain favourable, Refining miss, outlook better on capacity closure, Marketing segment slightly better, LPG losses widening, LPG subsidy relief could drive earnings upgrade, Large capital commitments with uncertain payback.
International Markets:
U.S & Europe:
Particulars | 22th Jan | Chg. | Chg.(%) |
Nasdaq | 20,015.54 | 258.76 | 1.31 |
Dow | 44,156.73 | 130.92 | 0.30 |
FTSE | 8,545.13 | -3.16 | -0.04 |
CAC | 7,837.40 | 66.45 | 0.85 |
DAX | 21,254.27 | 212.27 | 1.00 |
Dow Fut.* | 44,166.75 | 10.02 | 0.02 |
*As per 23rd January.
Asian markets:
Particulars | 23th Jan | Chg. | Chg.(%) |
GIFT Nifty | 23,135 | -63.95 | -0.28 |
Nikkei | 39,830.11 | 183.86 | 0.46 |
Straits Times | 3,803.47 | 22.26 | 0.59 |
Hang Seng | 19,832.55 | 65.71 | 0.33 |
Shanghai | 3,253.45 | 39.83 | 1.24 |
Stocks strong on Chart:
Index | F&O | Cash |
ITC | SYNGENE | RALLIS INDIA |
BRITANNIA | TATACONSUM | CEAT |
INFOSYS | IPCALAB | BEML |
ONGC | JSW STEEL | MAX ESTATE |
RIL | LTT | NIPPON AMC |
BHARTI AIR | HDFC BANK | MINDACORP |
Commodities & Currency:
Particulars | Current Price | Chg.(%) |
USD/INR | 86.461 | 0.01 |
Brent | 78.79 | -0.18 |
Gold | 79,575 | 0.01 |
Silver | 92,040 | 0.10 |
FIIs & DIIs:
Particulars | 22th Jan | 21st Jan |
FIIs | -4,026.25 | -5,920.28 |
DIIs | 3,640.22 | -4,336.54 |
NEWS UPDATES
Housing & Urban Development Corp: | The company signed a memorandum of understanding with the Vadhavan Port project to explore and provide funds up to Rs 25,000 crore for the development of new ports. |
Waaree Energies: | The company’s arm Waaree Solar Americas commences commercial production of 1.6 GW Solar Module line in US. |
Zydus Lifesciences: | The pharmaceutical company announced US FDA orphan drug designation to Usnoflast for the treatment of amyotrophic lateral sclerosis. |
Bharat Petroleum Corp: | The board approved the submission of the development plan to the Indonesian regulator. An estimated investment of $121 million would commence once the development plan for the Nunukan Block, aimed at exploring oil and gas reserves, gets approved. |
Source: Moneycontrol, Bloomberg Quint, Investing
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