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

Asian stocks rose following a report showing that the Federal Reserve’s preferred inflation gauge was lower than expected, which fueled hopes for interest rate cuts in the future. The US dollar remained stable after the report. However, US stock markets had a tough week, with major indexes experiencing their worst performance since mid-November. This drop was largely due to the Federal Reserve’s cautious stance on reducing interest rates next year, which unsettled investors. In India, the benchmark stock indices ended at their lowest point in over a month, marking their worst week in months. The global markets were shaken by the Federal Reserve’s more hawkish outlook, causing widespread concern. Investors are now focusing on the Federal Reserve’s next steps in managing inflation and interest rates, with many hoping for rate cuts in the coming months to support economic growth.

Economic Calendar:

  • USD: Initial Jobless Claims on 26th December 2024.
  • IND: Federal Fiscal Deficit (Nov) on 31st December 2024.
  • USD: Goods Trade Balance (Nov) on 27th December 2024.
  • IND: HSBC India Manufacturing PMI (Dec) on 2nd January 2025.

 

IPO Watch:

Company Open Close Price View
Concord Enviro Syst ltd 19-Dec 23-Dec 665-701 Avoid
DAM Capital Advi ltd 19-Dec 23-Dec 269-283 Apply
Mamata Machinery ltd 19-Dec 23-Dec 230-243 Apply
Transrail Lighting ltd 19-Dec 23-Dec 410-432 Apply
Sanathan  Textiles ltd 19-Dec 23-Dec 305-321 Apply
Carraro India ltd 20-Dec 24-Dec 668-704 Apply
Unimech Aerospace ltd 23-Dec 26-Dec 745-785 Apply

Brokerage Radar:

INVESTEC ON BAJAJ AUTO:

New Chetak 3502 is priced at Rs120k, Sharp fall in cost of production for new E-2W, Cost of production of newly launched 2025 Bajaj Chetak series is ~45% lower to earlier models.

INVESTEC ON GREENPLY:

Maintain Buy; target price at Rs 420, Management expects minimal impact on sales from the Gujarat MDF plant shut down, Remains hopeful on furniture fittings JV ramp-up.

DAM CAPITAL ON JSW INFRA:

Initiate Buy; target price of Rs 400, Recent acquisitions of Navkar Corp would mark a tectonic shift in business model, Robust group cargo visibility and cross- selling to third party clients, To be become end-to-end port related logistics player.

International Markets:

U.S & Europe:

Particulars     20th  Dec   Chg. Chg.(%)
Nasdaq 19,553.28 180.51 0.93
Dow 42,840.26 498.02 1.18
FTSE 8,084.61 -20.71 -0.26
CAC 7,274.48 -19.89 -0.27
DAX 19,884.75 -85.11 -0.43
Dow Fut.* 43,416 100 0.23

*As per 23th December.

Asian markets:

Particulars   23rd  Dec Chg. Chg.(%)
GIFT Nifty                  23804.50 178.85 0.76
Nikkei 39,042.60 340.70 0.88
Straits Times 3,760.36 40.43 1.09
Hang Seng 19,786.57 65.87 0.33
Shanghai                               3,370.74 2.67 0.08

Stocks strong on Chart:

Index F&O Cash
INFOSYS COFORGE MAX ESTATE
HCL ZYDUSWELL MINDACORP
ICICI BANK HPCL BEML
SUNPHARMA FEDERALBNK NIPPON AMC
LUPIN POLYCAB GRAVITA
DRREDDY CEAT

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 84.973 0.02
Brent 72.88 0.44
Gold 76,432 0.02
Silver 88,443 0.06

FIIs & DIIs:

Particulars        20th Dec        19th Dec
FIIs                          -3,597.82 -4,224.92
DIIs 1,374.37 3,943.24

NEWS UPDATES

Indian Oil Corp: Approved an investment of Rs 657 crore for setting up a yarn project in Odisha. The project will be set up by the company’s joint venture with MCPI. The project is to be set up in Odisha’s Bhadrak.
Interarch Building Products Ltd: Has projected a 50% growth in North India for FY26, with most of this growth coming from Uttar Pradesh. The North region is expected to contribute 30% to the company’s overall business volume during this period.
IDBI Bank: The board of IDBI Bank will meet on Dec. 31 to consider and approve raising up to Rs 10,000 crore through the issuance of infrastructure bonds in the current financial year and 2025-26 (April-March).

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