Market-View-Feature-Image

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 12th November 2024.
  • USD: Fed Interest Rate Decision on 7th November 2024.
  • IND: WPI Inflation (YoY) (Oct) on 14th  November 2024.

IPO Watch:

Company Open Close Price View
Swiggy Limited 6- Nov 8-Nov 371-390 Under review

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:

Particulars     1st  Nov   Chg. Chg.(%)
Nasdaq 18,239.92 144.77 0.80
Dow 42,052.19 288.73 0.69
FTSE 8,177.15 67.05 0.82
CAC 7,409.11 58.74 0.79
DAX 19,254.97 177.43 0.92
Dow Fut.* 42,111 -98 -0.23

*As per 04th November.

Asian markets:

Particulars   4th  Nov Chg. Chg.(%)
GIFT Nifty                  24,313 -70 -0.29
Nikkei 38,053.67 00 00
Straits Times 3,568.87 13.44 0.38
Hang Seng 20,518.87 12.44 0.08
Shanghai                               3,282.58 10.57 0.27

Stocks strong on Chart:

Index F&O Cash
BAJAJ FINSER HAL MAX ESTATE
BPCL INDIAN HOTEL JIO FINANCE
HDFC BANK ION EXCH JK LAKSHMI
NTPC TATA CHEM BAYER CROP
RIL FED BANK BLUE STAR
M&M TATA POWER CEAT

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 84.065 -0.08
Brent 74.11 1.38
Gold 78,778 -0.11
Silver 95,460 -0.02

FIIs & DIIs:

Particulars        1st Nov        29th Oct
FIIs                          -211.93 -548.69
DIIs -377.33 730.13

News Update:

Company

Hero MotoCorp: Reported an 18% Year-on-Year increase in total October sales at 6.79 lakh units, while scooter sales declined 5% to 43,304 units.
Zomato: Investee Adonmo completed a fundraise on Sept. 25, reducing Zomato’s shareholding in Adonmo to 17% from approximately 19%.
Premier Energies: Subsidiaries secured orders totalling Rs 560 crore from two major independent power producers.
Zen Technologies: Reported Q2 net profit of Rs 63.4 crore, up from Rs 13.6 crore YoY. Revenue rose to Rs 242 crore from Rs 66.5 crore YoY. Ebitda increased to Rs 80 crore from Rs 18.9 crore YoY, with margins expanding to 33.1% from 28.5%.
SML Isuzu: October total sales fell 8.2% YoY to 801 units, with passenger vehicle sales down 11.9% YoY to 407 units and cargo vehicle sales down 4.1% YoY to 394 units.

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