Market View 25th August, 2026

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

Global markets remained cautious as weakness in technology and semiconductor stocks weighed on investor sentiment. Asian equities were largely under pressure after Wall Street ended lower, although some markets showed resilience. Investors also continued to monitor developments around Iran and the potential impact on global trade and energy markets. US markets started the week on a weak note, with technology and chip stocks leading the decline. Semiconductor shares faced heavy selling pressure ahead of Nvidia’s earnings, while concerns over rising prices for artificial intelligence-related products added to uncertainty. The decline in technology stocks outweighed support from lower oil prices. European markets were also expected to open on a cautious note, with futures indicating weakness. Investors remained focused on global economic developments, geopolitical tensions and corporate earnings. In India, benchmark indices ended lower after a recent two-session rally. Selling pressure across the market led both the Nifty and Sensex to close in negative territory. However, the indices recovered some of their early losses before the close. Overall, investor sentiment remained cautious amid mixed global signals and weakness in global technology stocks.

Economic Calendar:

• USD: House Price Index on 25^th August 2026.
• IND: Industrial Production and Foreign Exchange Reserves on 28^th August 2026.
• USD: API Crude Oil Stock Change and GDP Growth Rate and PCE Price Index on 26^th August 2026.
• IND: GDP Growth Rate on 31^st August 2026.

BROKERAGE RADAR:

CITI ON TCS:

Target ₹1825 Recommendation Sell, Acquisition will anchor a long-term partnership with Porsche, Assuming EUR600-700mn run-rate for FY28 and 7-9% EBIT margins, it would translate to ~5-8x EV/EBIT, Valuations appear low, but there is risk of a revenue decline and other European IT companies trade at similar valuations, Such deals across the sector, could support growth near-term, but there is risk of existing book declining YoY increases, Remain cautious on Indian IT.

JEFFERIES ON INDIAN HOTELS:

Target ₹875 Recommendation Accumulate, Simplification Continues; Growth Outlook Strong, All-stock deal values Oriental Hotels at a 50% discount to Indian Hotels, Deal is EPS accretive from year one, Oriental adds non-LFL growth with scope for margin/Revenue improvement, Operationally, Q2 trends remain strong, and FY27 RevPAR growth could stay in double digits.

BERNSTEIN ON PB FINTECH:

Target ₹2310 Recommendation Outperform, PB Fin has built a phenomenal sales engine with high growth, high renewals & lower claims, This is resulting in high take-rates, In an industry that struggles for growth, PB Fintech grows top-line at 30-35%+, at scale, Near-term regulatory clouds exist, but our channel checks corroborate price action (cuts unlikely to be harsh), Delay in regulations partly comes from the understanding that take-rates are high for a reason, and growth is the regulatory priority.

JEFFERIES ON UPL:

Target ₹715 Recommendation Accumulate, Met with the senior management of UPL, Company is confident of full year growth guidance (10-14%) with Q2 growth shaping broadly in line, Company expects Ebitda margin to improve on rationalization of unprofitable parts of the business, Company has a tight leash on inventories in Latam in light of the El Niño, Marketing of the Advanta IPO should start soon.

International Markets:

U.S & Europe:

*As per 25^th August.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

View on market: Volatility persists, eagerly searching for growth

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