Market View 4th Nov, 2024

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

Asian-Pacific stocks started the week on a high, boosted by expectations of the Federal Reserve meeting and uncertainties over the outcome of the presidential elections in the United States. U.S Large caps posted gains as equity markets, S&P 500, Nasdaq and Dow Jones were also up driven by improving investor sentiment. The Indian NSE Nifty 50 and BSE Sensex staged a smart recovery from a two-day based loss during a special session on account of the beginning of a new Samvat year 2081. Stocks including Mahindra & Mahindra and Oil Natural Gas Corporation formed a huge contribution to the increase in Nifty 50 index. OveralL sentiment is undoubtedly bullish as investors consider next week’s economic reports and political event. This positive trend indicates readiness and intent of traders to transact in the market before key decisions that shape the economic policy and the market in the near-future months.

Economic Calendar:

• USD: US Presidential Election on 5th November 2024.
• IND: CPI (YoY) (Oct) on 12^th November 2024.
• USD: Fed Interest Rate Decision on 7th November 2024.
• IND: WPI Inflation (YoY) (Oct) on 14^th  November 2024.

IPO Watch:

Brokerage Radar:

KOTAK SECURITIES ON M&M:

Upgrade to Buy from Add; Cut target price to Rs 3150 from Rs 3300, Tractor industry poised for recovery during H2,  Well-positioned despite slowdown in domestic passenger vehicle segment,  Demand trends remain muted in LCV segment Continuing to execute well in all three segments and improvement in return ratios.

DAM CAP ON BHARTI AIRTEL:

Initiate Buy with target price of Rs 1907,  Telecom industry has now reached a state of maturity,  Home broadband is on the cusp of a multi-year growth,  B2B business continues to expand steadily d 400, Expect FY25-27 revenue/EBITDA CAGR to be 12%/15% for India businesses.

JEFFERIES ON NYKAA:

Maintain Buy with target price of Rs 220,  Visit to Nykaaland 2.0, India’s One of its Kind Beauty Festival,  Recently attended 3-day beauty festival in Mumbai which hosted >80 brands and 1k+ content creators, Nykaaland attracted >25,000 visitors and as many as 400k samples were distributed.

International Markets:

U.S & Europe:

*As per 04^th November.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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