Market View 24th September, 2025

View on market: Volatility persists, eagerly searching for growth:

Asian stocks fell as investors reacted to signals from the US Federal Reserve that created uncertainty about the timing of future interest-rate cuts. The regional benchmark index slipped, with losses across Japan, Australia and South Korea after Japan’s markets reopened from a holiday. Hong Kong shares also weakened. In US trading, a record rally paused as major indexes turned lower, especially technology companies that are more sensitive to borrowing costs. The comments from the Federal Reserve chair gave no indication of support for a rate cut at the next meeting, dampening sentiment. Futures for US and European equities moved in different directions during Asian hours, reflecting a cautious outlook. In India, the main stock benchmarks extended their losing streak, ending modestly lower for a third session in a row. Overall, markets across Asia and other regions showed signs of profit-taking and uncertainty as investors waited for clearer guidance from central banks on monetary policy.

Economic Calendar:

• USD: Crude Oil Inventories Data on 24^th September 2025.
• IND: Foreign Reserves USD on 26^th September 2025.
• USD: Initial and Continuing Jobless Claims Data on 25^th September 2025.
• IND: Bank Loan and Deposit Growth Rate on 26^th September 2025.

IPO Watch:

Brokerage Radar:

JPMORGAN ON SWIGGY:

Target Rs 470 Recommendation Overweight, Rapido stake sale bolsters balance sheet and extends quick commerce burn runway, New cash balance can support this business for 6 quarters and longer as burn moderates, Could reduce the need to raise funds to support its current aggressive strategy on marketing, subsidies and sales.

INVESTEC ON MARUTI:

Target Rs 18475 Earlier Target Rs 13980 Recommendation Buy, Well placed to benefit from the anticipated demand upturn, Recent launch of Victoris should strengthen Maruti’s presence in the fast growing mid-size SUV space, Implementation of the 8th pay commission from 2026 should help Maruti.

MORGAN STANLEY ON SBI CARDS:

Target Rs 710 Recommendation Underweight, SBI Cards’ spending market share increased 50 bps MoM to 17.3%, Market share in credit cards in force (stock) was flat MoM at 19% in August, August 2025 spending rose 1.6% MoM for SBI Card vs. 1.4% decrease for the industry.

KOTAK SECURITIES ON ADANI PORTS:

Target Rs 1900 Earlier Target Rs 1840 Recommendation Buy, Creating value at a fast pace in the port portfolio, Taking rapid strides in transshipment, East Coast ports poised for strong growth and capex boost, Mundra: Volume disruption may not last long; container to drive growth.

International Markets:

U.S & Europe:

*As per 24^th September.

Asian markets:

Particulars	24th  Sept	Chg.	Chg.(%)
GIFT Nifty	25,179.00	-76.80	-0.30
Nikkei	45,303.00	-190.66	-0.42
Straits Times	4,298.45	-4.22	-0.10
Hang Seng	26,262.00	102.88	0.39
Shanghai	3,823.53	1.70	0.04

 

Stocks strong on Chart:

Index	F&O	Cash
SBIN	HDFCAMC	RALLIS INDIA
AXISBANK	BRITANNIA	CEAT
HUL	DABUR	BEML
ULTRACEMCO	PFC	MAX ESTATE
HEROMOTOCO	ICICIGI	NIPPON AMC
BEL	RECLTD	MINDACORP

Commodities & Currency:

Particulars	Current Price	Chg.(%)
USD/INR	88.897	0.12
Brent	67.74	0.16
Gold	113,800	1.40
Silver	135,000	1.08

 

FIIs & DIIs:

Particulars	23rd Sept	22nd Sept
FIIs	-3,551.19	-2,910.09
DIIs	2,670.87	2,582.63

 

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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