View on market: Volatility persists, eagerly searching for growth

Global markets showed mixed performance as investors remained cautious ahead of major economic data releases, corporate earnings, and the upcoming U.S. Federal Reserve meeting. U.S. stock futures remained steady, with European futures showing only slight gains. On Wall Street, stocks edged higher, supported by renewed optimism following a weekend trade agreement between the U.S. and the European Union. The S&P 500 recorded its sixth straight record close, while tech stocks continued to rise. However, the Dow slipped slightly. Asian markets were mostly lower, reflecting the cautious mood among investors. Major indices in Japan, South Korea, Australia, and Hong Kong declined, extending their recent losing streak. In India, stock markets continued their downward trend for a third consecutive session. Investor sentiment was hurt by weak quarterly results from a major private bank, which dragged down financial stocks and broader indices. Overall, global markets are trading with a watchful eye on key earnings and data that could influence future interest rate decisions.

Key Quarterly Results for Today:

ARVIND, ASIANPAINT, ASKAUTOLTD, BANKINDIA, BLUEDART, COMFINCAP, CRAFTSMAN, DEEPAKFERT, ELECTHERM, GABRIEL, GOLKUNDIA, IFL, JGTL, JKIL, JUBLPHARMA, LT, NTPC, PEL, PILITA, QUADFUTURE, RADHIKAJWE, REMIEDEL, RHL, STARHEALTH, SUMMITSEC, TIMEX, TRIVENI, VBL, VGUARD, ZEEMEDIA.

Economic Calendar:

• USD: House Price Index Data on 29^th July 2025.
• IND: Federal Fiscal Deficit (June) on 31^st July 2025.
• USD: GDP Price Index (QoQ) (Q2) on 30^th July 2025.
• IND: RBI Monetary Policy and Credit Information Review on 31^st July 2025.

IPO Watch:

Company	Open	Close	Price (Rs/-)	View
Shanti Gold Int Ltd.	25th July	29th July	189-199	Avoid
Aditya Infotech Ltd.	29th July	31st July	640-675	Apply
NSDL	30th July	1st Aug	760-800	Apply

 

Brokerage Radar:

JPMORGAN ON BEL:

Maintain Overweight with TP of Rs 490, Margin-driven beat in Q1; order wins remain strong, Not unduly concerned about revenue growth, Order wins well ahead of the run rate required to achieve the FY26 guidance of Rs 27000 cr.

CITI ON INDUSIND BANK:

Maintain Sell with TP of Rs 765, Earnings Reset in Progress; Eyes on CEO Appointment, Slippages normalized after one-offs in 1Q, though remains elevated, See weaker growth and higher credit cost, partially offset by better NIM and treasury gains.

JEFFERIES ON AJANTA PHARMA:

Maintain Buy; Hike TP to Rs 3320 from Rs 3140, Modest beat in Q1 for Ajanta, growth drivers in place, FY26 guidance pointed for continued outperformance for India, mid-teens growth in Asia, See Ebitda margin at 27% (+/-1% range) due to ongoing investments in Asia/Africa, Cut FY26/27 EPS by 2-3% on higher near-term opex.

MACQUARIE ON GAIL:

Maintain Outperform with TP of Rs 215, Q1: muted quarter; petchem drags, Transmission volume was soft for the Jun-Q, believe this should improve, Gas Marketing has been offsetting losses for Petchem.

International Markets:

U.S & Europe:

*As per 29th July.

Asian markets:

Particulars	29th  July	Chg.	Chg.(%)
GIFT Nifty	24,661.50	-48.70	-0.20
Nikkei	40,632.00	-366.27	-0.89
Straits Times	4,218.10	-23.04	-0.54
Hang Seng	25,270.00	-292.13	-1.14
Shanghai	3,593.85	-4.09	-0.11

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

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