Market View 25th Nov, 2024

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

Stocks in Asia-Pacific area rose on Monday and the greenback fell after Trump tapped hedge fund manager Scott Bessent as the Treasury Secretary. A number of stock markets on the American market posted some gains; the S&P 500 adding a marginally small amount, the Dow Jones Industrial Average, which was up by over 100 points and the Nasdaq Composite which sat steady. On Friday, NSE Nifty 50 and BSE Sensex hit their best level since early June due to the upbeat global cues. Thus, the graph of both indices demonstrated their increase, especially in the second half of the session, with a sharp increase. Stocks on the NSE were trading at their highest intraday gain in several months and the BSE’s Nifty 50 and the S&P Sensex gained 1.61 percent and 1.71 percent respectively. This global rally in Indian markets was due to favourable domestic fundamentals and other global markets especially with respect to US.

Economic Calendar:

• USD: House Price Index (YoY) (Sep) on 26th November 2024.
• IND: Federal Fiscal Deficit (Oct) on 29^th November 2024.
• USD: GDP Price Index (QoQ) (Q3) on 27^St November 2024.
• IND: HSBC India Manufacturing PMI (Nov) on 2^nd December 2024.

IPO Watch:

Brokerage Radar:

JEFFERIES ON SUVEN PHARMA:

Hosted Suven Pharma management in HK and Singapore, Company is bullish on the opportunity for Indian CDMOs as innovators look to de-risk their supply chains, ADCs and Oligonucleotides are key emerging modalities, CDMOs are looking to invest and Suven has a strong presence, Akin to peers, Suven too guides for growth to improve in H2.

JEFFERIES ON AUTO SECTOR:

M&M – Maintain Buy with target price of Rs 3700, Maruti Suzuki – Maintain Hold with target price of Rs 10900, Believe M&M is a better investment case than Maruti, M&M enjoys stronger industry demand tailwinds, M&M is gaining market share across tractors, SUVs and LCVs while Maruti is slipping in PVs, M&M has demonstrated better margin sustainability.

KOTAK SECURITIES ON INDIA STRATEGY:

BJP’s impressive victory in Maharashtra in the recent elections, following its win in Haryana in October 2024, is likely to result in continuity of the central government’s development agenda,  See limited overall fiscal consolidation, ramp-up of central government capex in H2FY25 and near-term sentiment boost for r-ter the market.

International Markets:

U.S & Europe:

*As per 25^th November.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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