Market View 28th August, 2026

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

Asian markets traded modestly higher as investors remained cautious ahead of the Federal Reserve Chair’s speech at Jackson Hole, looking for clues on the future direction of interest rates. Treasury yields remained elevated, while the yen stayed weak against the US dollar after Tokyo’s inflation data showed continued acceleration. US stock futures moved slightly lower as investors adopted a wait-and-watch approach ahead of the Federal Reserve Chair’s Jackson Hole speech. Earlier optimism following Nvidia’s positive outlook faded, with weakness in technology stocks weighing on sentiment. Marvell Technology saw a sharp decline after its earnings, adding pressure to Nasdaq futures. Indian markets closed lower, with the Sensex and Nifty declining as selling pressure was seen across metal, banking and cement stocks. HDFC Bank and NTPC were among the major laggards, while Hindalco Industries, Shriram Finance and M&M also faced pressure. Overall, weak sectoral performance kept domestic sentiment subdued.

Economic Calendar:

• USD: Jackson Hole Symposium Conference on 28^th August 2026.
• USD: S&P Global and ISM Manufacturing PMI Data on 01^st September 2026.
• IND: Industrial Production and Foreign Exchange Reserves on 28^th August 2026.
• USD: Export & Import, Initial & Continuing Jobless Claim, S&P Global Composite & Services PMI and ISM Services PMI Data on 03^rd September 2026.
• IND: Q1 GDP Growth Rate on 31^st August 2026.

BROKERAGE

HSBC ON MANIPAL HEALTH:

Target ₹1000 Recommendation Accumulate, Economies of scale at play, India’s biggest private hospital operator, set to sharpen its focus on profitability after doubling bed capacity since FY23, Expect PAT to grow 3x over FY26-29e and net debt to EBITDA to improve to 0.7x in FY27e vs 3.7x in FY26, Improving EBITDA margins for the acquired Sahyadri Hospitals is a key catalyst.

JEFFERIES ON SBI FM:

Target ₹710 Recommendation Accumulate, Largest Indian AMC with Distribution Moat Exclusive association with largest PSU bank, Market leadership in faster-growing lower-tier markets, Well-diversified scheme mix, and institutional scale, Expect 15% OPAT CAGR till FY29 led by 18% MF AUM CAGR and operating leverage.

KOTAK SECURITIES ON METROPOLIS:

Target ₹655 Recomm Add, Eyeing growth acceleration; 14-15% YoY growth guidance for FY2027 stays, Share of TruHealth and specialty to continue to inch up, Healthy growth visibility, Expect a 300 bps EBITDA margin expansion over FY26-29, Aided by increasing maturity of the expanded network and a better margin profile for Core.

MACQUARIE ON UNITED SPIRITS:

Target ₹1475 Recommendation Outperform, Growth marginally higher than Pernod India, Pernod India saw 9% sales growth in the Jun’26 quarter, Acknowledge the near-term input cost inflationary concerns post sugar price increases, Like the constructive demand commentary by Pernod India and the stronger growth seen for United Spirits vs Pernod.

International Markets:

U.S & Europe:

*As per 28^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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