Market View 6th Jan, 2025

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

Asian equities showed mixed results on Monday, influenced by a strong recovery in U.S. stocks after Wall Street ended a five-day losing streak. On Friday, all major U.S. indices closed higher, driven by renewed demand for large technology stocks. The S&P 500 saw a notable gain, while the Nasdaq Composite rose significantly, and the Dow Jones also posted a positive close. Despite the positive performance in the U.S., Indian markets faced declines, with the Nifty 50 and Sensex both ending lower on Friday, breaking their two-day winning streak. The Nifty 50 dropped, and the Sensex saw a notable fall, marking a decrease after two consecutive days of gains. However, both indices managed to end the week on a positive note, rising for the second consecutive week. The overall market sentiment reflected cautious optimism, with mixed performance in Asia despite the stronger showing from U.S. stocks.

Economic Calendar:

• USD: S&P Global Services PMI (Dec) on 6th January 2025.
• IND: HSBC India Services PMI (Dec) on 6^th January 2025.
• USD: Import and Export Data on 7^th January 2025.
• IND: GDP Annual on 7^th January 2025.

 

IPO Watch:

Brokerage Radar:

MORGAN STANLEY-EQUITY OUTLOOK:

Expect India to be among the best-performing EMs in 2025, Strong earnings, macro stability, and domestic flows support India’s investment case, Global growth, IPO bunching, and near-term domestic growth are risks, Cyclicals > Defensives, SMID > Large caps, Overweight Financials, Consumer Discretionary.

MORGAN STANLEY ON REALTY (Q3FY25 UPDATES):

DLF and Oberoi expected to show strong sales momentum in 3QFY25 with 20-35% QoQ sales growth,  DLF FY25 growth ~60% YoY outpacing peers,  Dahlia (150 units/Rs120bn) and 360W (13 units) are positive surprises, Prestige 9M25 pre-sales Rs10800cr disappointed.

MACQUARIE ON DABUR:

Maintain Neutral, target price ₹560, Low single-digit consolidated sales growth and flattish YoY EBITDA in 3Q, Flattish healthcare sales and muted beverage performance drove weaker sales, EBITDA margin declined YoY due to inflationary pressures.

International Markets:

U.S & Europe:

*As per 6^thJanuary.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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