Market View 3rd Dec, 2024

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

Asian markets rallied strongly, taking cues from a robust overnight performance on Wall Street, where technology stocks drove major indices higher. The S&P 500 and Nasdaq extended gains to hit fresh peaks, although the Dow Jones registered a slight decline. Technology shares remained the highlight, reflecting investor confidence in the sector. Meanwhile, Indian markets continued their upward trend for the second straight session, led by Reliance Industries and Infosys. Both the NSE Nifty 50 and BSE Sensex rebounded in the latter half of the trading session, showing resilience and renewed buying interest. Global investors are now looking ahead to Federal Reserve Chair Jerome Powell’s upcoming speech and a series of economic data releases for further guidance on monetary policy and economic health. The overall sentiment across markets remains buoyant, driven by strong performances in key sectors and optimism about sustained economic recovery.

Economic Calendar:

• USD: Initial Jobless Claims on 5th December 2024.
• IND: Monetary Policy on 6^th December 2024.
• USD: CPI Index (MoM) (Nov) on 11th December 2024.
• IND: WPI Inflation (YoY) (Nov) on 13^th December 2024.

 

Brokerage Radar:

JEFFERIES ON GLOBAL HEALTH:

Maintain Hold with target price of Rs 1170, New bed additions on track sans Indore and South Delhi, Sequential improvement in Lucknow, Patna ramp-up continues Capex plans of Rs 2800 cr over the next five years, Delays at Indore are a disappointment, Medanta is exploring other options to enter the market.

JPMORGAN ON KPIT TECH:

Maintain Overweight with target price of Rs 1900, A fallen hero that can rise again, Near term softness is transient in nature and not structural, EV/hybrid investments will continue albeit at a gradual pace, QIP money to be used for multiple tuck- in M&A,  Base case potential upside of 42%, bear case downside of 10%.

BOFA ON VEDANTA MANAGEMENT MEET:

Maintain Neutral with target price of Rs 470, FY25 Aluminum cost of production guidance maintained, O&G: Near-term production likely to be muted, In final stages of demerger with shareholder and creditor meetings scheduled in the coming months.

International Markets:

U.S & Europe:

*As per 3^rd December.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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