Market View 24th March, 2025

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

Asian stock markets showed a mixed trend on Monday morning. Japanese shares fluctuated, while Australian and South Korean markets declined. Hong Kong futures also dropped, reflecting cautious investor sentiment. Meanwhile, US stock futures moved higher as reports suggested that the next round of US trade tariffs might be less aggressive than previously expected. Futures linked to key US indices, including the S&P 500, Nasdaq 100, and Dow Jones, posted solid gains. Indian stock markets ended last week with their strongest rally in years. Investors ignored global concerns and focused on buying undervalued stocks following recent corrections. Both major indices surged during the day, reaching new highs before closing with significant gains. Overall, the market trends indicate optimism in the US, mixed performance in Asia, and strong investor confidence in India. Traders remain watchful of further developments in global trade policies and economic data.

Economic Calendar:

• USD: S&P Global Services PMI (Mar) 24^th March 2025.
• IND: S&P Global Manufacturing and Services PMI on 24^th March 2025.
• USD: House Price Index (Jan) 25^th March 2025.
• IND: Foreign Reserves (USD) on 28^th March 2025.

Brokerage Radar:

NUVAMA ON JINDAL STAINLESS:

Maintain Buy, target ₹723 (earlier ₹836), Company navigating rough waters amid soft export demand and high imports, Implied Q4FY25 EBITDA/t guidance at ~₹16,000, Weak exports and firm imports forcing JSL to divert volume to low-margin segments, impacting margins, Management has deferred downstream operations at Jajpur by 8-9 months (earlier expected by H1FY27).

CITI ON ICICI BANK:

MAINTAIN BUY TARGET PRICE: ₹1,600, Positive NIM Bias In Q4; 50 bps Rate Cut May Impact FY26 By 20-25bps, Unsecured Stress Stabilising, Chunky Corporate Recovery To Aid Credit Cost, FY26 Onwards Gradual Credit Cost Normalisation, Unsecured Segments To See Gradual Growth Pick-up, Optimising In-house Sourcing For PL, Improving Credit Card Penetration & Usage, Deposit Mobilisation Not A Challenge To Fund Required Profitable & Risk-adjusted Loan Growth,

MOSL ON GAIL:

Buy, Target ₹195, Strong transmission and marketing outlook, Larger and more diversified petrochemical capacity to drive earnings, Valuations remain compelling with an FY27 dividend yield of 4.3%.

International Markets:

U.S & Europe:

*As per 24^thMarch.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing 

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