View on market: Volatility persists, eagerly searching for growth

Asian stock markets continued their winning streak for a sixth day, boosted by improved investor confidence after the US and Japan reached a trade deal. This progress raised hopes for more such agreements in the future. Japanese markets saw strong early gains, and the broader Asia Pacific index also moved higher. In the US, markets remained positive, with the S&P 500 hitting a new record for the third straight day. Investor interest in safer assets like government bonds fell, causing bond yields to rise slightly. Back home in India, stock indices closed higher, helped by gains in major banks like HDFC Bank and ICICI Bank. Reports emerged that the US and the European Union are close to finalizing a trade deal that includes tariffs on many goods. After trading hours, Alphabet posted strong revenue, though it also plans to increase its spending. Meanwhile, Tesla’s results were weaker than expected. In Japan, long-term bond demand was the weakest it has been in over a decade.

Key Quarterly Results for Today:

ABSLAMC, ACC, ADANIENSOL, AETHER, AJMERA ANANTRAJ, APLAPOLLO, BAJFINANCE, CANBK, CAPITALSFB, CGPOWER, COROMANDEL, CYIENT, IEX, IGCL, INDIANB, INDOCO, KFINTECH, LTFOODS, MOTILALOFS, MPHASIS, NESTLEIND, RECLTD, SBILIFE, SUPREMEIND, TRIDENT, UNIMECH, UTIAMC, VANTABIO, VMART.

Economic Calendar:

• USD: Initial and Continuing Jobless Claims Data on 24^th July 2025.
• IND: S&P Global Services and Manufacturing PMI (July) on 24^th July 2025.
• USD: S&P Global Manufacturing PMI (July) on 24^th July 2025.
• IND: Foreign Reserves (USD) Data on 25^th July 2025.

IPO Watch:

Company	Open	Close	Price (Rs/-)	View
GNG Electronics Ltd.	23rd July	25th July	225-237	Apply
Shanti Gold Int Ltd.	25th July	29th July	189-199	Under Review

 

Brokerage Radar:

MORGAN STANLEY ON COFORGE:

Maintain Overweight with TP of Rs 1880, Revenue growth inline; EBIT and margin below estimates, Executable order book grew QoQ by $40mn, lower than expectation of $55mn.

MACQUARIE ON INFOSYS:

Maintain Neutral; Cut TP to Rs 1490 from Rs 1500, Unbilled revenue up QoQ; EBIT below estimate, Guidance at the top end was not increased despite the impact of acquisitions, For FY26-28, raise revenue 1.8-2.2% and lower EBIT margins 1-15 bps.

BOFA ON DR REDDY:

Maintain Buy; Hike TP to Rs 1600 from Rs 1500, Inline margin despite sharp Revlimid erosion, Multiple levers to support 25% margin – sema, core biz growth, cost, Sharper than expected erosion in Revlimid would mean FY26 earnings cut, FY27 EPS is unchanged as the core business performance remains on track.

CITI ON TATA CONSUMER:

Maintain Buy; Cut TP to Rs 1275 from Rs 1325, Weak Q1; Margin Recovery In H2FY26 Key As Tea Prices Soften, Profitability outlook also remains mixed, Will monitor the pace of recovery in NourishCo and Capital Foods.

International Markets:

U.S & Europe:

*As per 24th July.

Asian markets:

Particulars	24th  July	Chg.	Chg.(%)
GIFT Nifty	25,291.50	38.70	0.15
Nikkei	41,983.50	812.18	1.93
Straits Times	4,252.85	21.57	0.51
Hang Seng	25,649.00	110.93	0.43
Shanghai	3,594.95	12.65	0.35

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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