Market View 5th Nov, 2024

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

Indices in the Asia-Pacific area began traded mixed way as concerns regarding the emerging US presidential election and Fed policy meeting mounted. People are more conscious and they are waiting to check the impact of election in stock markets. Similar caution was seen in US market, and barely there was a movement in the major stock index at the opening of the trading today. Due to the uncertainty in the election the wait and see factor has come into play. The Indian Markets – NSE Nifty 50 and BSE Sensex ended at their lowest levels in more than a month on Monday. The decline was mainly provided by bad performances in such stocks as Reliance Industries and HDFC Bank. This revealing that investor are concerned about global and domestic factors that have an impact on the market such as the change in policy of the US and the result of the election. In general, markets are worrying and investors are firmly observing the movement in the United States and the world economy.

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:

MORGAN STANLEY ON APOLLO HOSPITAL:

Maintain Overweight with target price of Rs 7110, Apollo is building a 500-bed hospitals in Worli,  Mumbai is an attractive micro market,  Metro share in overall mix to rise from 57% in FY24 to 60% in FY29, Metro markets had 28% ROCE for the company vs 23% for non-metro.

NOMURA ON EXIDE:

Maintain Buy with target price of Rs 589, Q2 EBITDA margin below estimates,  Maintain view that industrial demand will grow by 12% in FY25-26, See a recovery in auto replacement demand which will drive 8-10% volume growth.

CITI ON HDFC BANK:

Maintain Buy with target price of Rs 1990, HDB files for IPO to comply with mandatory listing and raise growth capital, HDB is leading, granular, diversified NBFC-UL with AAA credit rating, HDB at 3-4x post issue translates N to 2.8-4.3% of HDFC Bank’s market cap.

International Markets:

U.S & Europe:

*As per 05^th November.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Update:

Company

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