Market View 4th April, 2025

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

Asia-Pacific markets saw more losses on Friday morning, following a sharp drop in US markets the previous night. This decline came after US President Donald Trump announced new tariffs, causing concern across global markets. Japan’s main stock index was significantly down in early trading. On Thursday, US stock markets experienced their biggest single-day drop in years. Major indices like the Dow Jones, S&P 500, and Nasdaq all fell sharply. These losses sent shockwaves through global financial markets, leading to a drop in investor confidence. Indian markets were also affected. The country’s major stock indices ended the day lower. Throughout the day, they showed signs of deeper losses before recovering slightly by the end. The market reaction in India reflected global concerns about the impact of US trade policies. Overall, the announcement of tariffs led to widespread market declines in the US, Asia, and India, with investors reacting to fears of a broader trade conflict and its potential effect on the world economy.

Key Financial Results for Today

PADAMCO.

Economic Calendar:

• USD: Reserve Balances with Federal Reserve Banks on 4^th April 2025.
• IND: Foreign Reserves (USD) on 4^th April 2025.
• USD: CFTC Speculative Net Positions on 5^th April 2025.
• IND: Monetary Policy on 9^th April 2025.

Brokerage Radar:

CLSA ON FEDERAL BANK:

Initiate coverage with Outperform; target price *230O, Slow and steady wins the race, While the near-term outlook is muted, expect the bank to pluck low-hanging fruit and improve returns over the next three years, FY26 NIM likely to compress, Expect NIM to decline 20 bps over the next three ee quarters and then improve.

CLSA ON TATA MOTORS:

DOWNGRADE OUTPERFORM TARGET PRICE: ₹765, % US Tariffs & Jaguar Model Cuts May Drop JLR Volumes By 14% YoY In FY26, EBIT Margin Seen Falling To 7% In FY26/27 Vs 9% In FY25, JLR FY26 EBITDA Cut By 15%, But FCF Stays Positive, JLR EV/EBITDA Multiple Cut To 2.0x From 2.5x.

HSBC ON PHARMA:

Pharma Exempt From US Tariffs, Providing Reprieve For Indian Pharma Cos, Indian Pharma Cos 10-50% Sales From The US, Tariff Discussion On Pharma May Resurface, Don’t Expect Unmanageable Tariffs For Indian Pharma Sector Ahead, For Key Indian Cos, Having Mfg Plants In Us Provides Further Cushion Against Any Dvpts.

International Markets:

U.S & Europe:

*As per 4^thApril.

 Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

Source: Moneycontrol, Bloomberg Quint, Investing

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