Market View 2nd Jan, 2025

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

Asian stock markets started the new year cautiously after a mixed end to 2024, which had otherwise been a strong year for global investors. Wall Street was closed on New Year’s Day, adding to the uncertainty. However, Indian stock markets showed a positive rebound on the first trading day of 2025. Both the major indices, the Nifty 50 and the Sensex, ended the day higher, recovering from a recent decline. The Indian markets saw gains, signaling a hopeful start for the year despite the global caution. Investors remain cautious, with market movements influenced by global trends and the upcoming economic reports. The recovery in India suggests some optimism, but the overall sentiment remains watchful as the year begins. This marks a mixed start for Asian markets, with some regions experiencing gains while others await further signals for clearer trends.

Economic Calendar:

• USD: S&P Global Services PMI (Dec) on 6th January 2025.
• IND: HSBC India Services PMI (Dec) on 6^th January 2025.
• USD: Import and Export Data on 7^th January 2025.
• IND: GDP Annual on 7^th January 2025.

 

IPO Watch:

Brokerage Radar:

JPMORGAN ON PREMIER ENERGIES:

Maintain Neutral, target price at Rs 1148, Facilities are ramping up output, Driving strong revenue and returns momentum, Fifth-largest solar module manufacturer in India, Intends to build new 4+4 GW cell and module facilities by 2026, which should help drive scale further.

INVESTEC ON NTPC:

Maintain Buy, target price of Rs 421 (From Rs 457),  Stock correction presents opportunity, Strong and stable coal-based capacity across regulated business model, Risk averse regulatory business model,  Evolution into cleaner energy by focusing on adding renewable capacities, Assign 25% holding discount to green business.

INVESTEC-CEMENT:

Pan India prices increased by Rs 8.5/bag MoM in Dec’24, Pricing in Dec’24 though is 8% lower YoY, Price hike announcements in the range of Rs10-20/bag for Jan’25 in a few pockets, Dealers indicate demand trends improved slightly MoM but still lower YoY,  Dealers anticipate a revival in demand into Q4FY25 as construction activity picks up post Sankranti.

International Markets:

U.S & Europe:

*As per 2^ndJanuary.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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