Market View 25th August, 2025

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

Asian markets began the week on a positive note, following strong gains from Wall Street. Investors were encouraged after remarks from the US Federal Reserve Chair signaled the possibility of fresh interest rate cuts in the near future. This boosted confidence across the region, with shares in Japan and South Korea moving higher, while Australian equities reached a new peak. Hong Kong futures also pointed to strong momentum. On Wall Street, stocks surged to finish the week on a high. The Dow Jones Industrial Average achieved a new record close for the first time this year. Both the S&P 500 and the Nasdaq advanced strongly, with most major sectors showing healthy gains. The rally was driven by optimism that lower borrowing costs may arrive sooner than expected, which typically supports business growth and stock valuations. In India, however, local markets ended the week weaker, as both major benchmarks declined, closing below an important psychological level.

Economic Calendar:

• USD: House Price Index (June) on 26^th August 2025.
• IND: Industrial Production (July) on 28^th August 2025.
• USD: Crude Oil Inventory on 27^th August 2025.
• IND: GDP Quarterly (Q2) on 29^th August 2025.

Brokerage Radar:

JEFFERIES ON BAJAJ FINANCE:

Target Rs 1,100 Recommendation Buy, Mgmt clarified that while SME segment is seeing some pressure, stress isn’t as high as feared, Credit cost for FY26 can be near guided range of 185-195bps of loans & loan growth can be 23-24% YoY, Rajeev’s role as MD is till Mar-28 & thereafter there would be new CEO from internal candidates.

JM FINANCIAL ON ITC HOTELS:

Target Rs 215 Initiates sell Recommendation Sell, Solid fundamentals, stretched valuations, Fee business to scale up rapidly, Strong balance sheet but growth restricted in near term, No new asset getting commissioned till FY28.

CITI ON IT SECTOR:

FY26E is the third slow growth year for our Indian IT coverage, Common view is that it is macro driven and should be resolved with rate cuts etc., Believe the slowdown is due to a combination of factors and not only macro, Multiple data points suggest that overall IT spending is not bad.

JEFFERIES INDIA STRATEGY:

Met several very senior bureaucrats/experts in Delhi, Upcoming GST rate rationalization has been more than a year in making and should aid consumption, without much fiscal hit, Govt is preparing for the worst case US tariff situation though hopes of improvement exist, India/China relationship improving, but that’s going on for more than a year, Govt.

International Markets:

U.S & Europe:

*As per 25^thAugust.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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