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View on market: Volatility persists, eagerly searching for growth

Asian markets started the week with mixed performance. Japanese, South Korean, and Australian markets showed small declines, while Hong Kong futures also moved lower. Investors remained cautious ahead of the upcoming deadline for trade deals set by the US government. The possibility of higher tariffs is keeping market sentiment on edge. In the US, stock markets ended higher in the last trading session before the Independence Day holiday. Strong job data boosted confidence, with major indices like the Dow Jones, S&P 500, and Nasdaq all rising and hitting new record highs. Back home, Indian markets ended higher on Friday, breaking a two-day losing streak. However, both the Nifty and Sensex fell over the week after two straight weeks of gains. Broader market indices performed better than the benchmark indices during the week. Global investors are now closely watching developments on trade talks and economic signals to decide the next direction for the markets.

Key Quarterly Results for Today:

BODHTREE, DPL, ENRIN, ESARIND, MNIL, NECLIFE, TAKE, UMIYA.

Economic Calendar:

  • USD: Fed’s Balance Sheet on 08th July 2025.
  • IND: Foreign Reserves USD on 11th July 2025.
  • USD: Mortgage Market Index on 09th July 2025.
  • IND: WPI Inflation for June (YoY) on 14th July 2025.

 

Brokerage Radar:

MORGAN STANLEY ON ETERNAL:

Maintains Overweight with Target Price of Rs 320, Eternal has appointed a new CEO for the food ordering and delivery business, Leadership changes at the senior management level could have a mixed effect on sentiment, But we note that Zomato has continued to gain market share despite multiple changes over the last four years.

NUVAMA ON GCPL:

Buy, Target Rs 1,460, India volumes beat estimates, outlook strong, Most India segments performed, well HI India grew mid-to-high single digits on strong June recovery from new ads and favourable weather; aerosols weak, Soaps weak due to grammage cuts.

NUVAMA ON DABUR:

Buy, Target Rs 615, Q1FY26 update largely in line with estimates, Expect consolidated revenue to grow 2.1% YoY (vs 7% in Q1FY25), Domestic business to fall 3% YoY (vs +7% in Q1FY25), while international business to expand 17% YoY, HPC expected to perform well, healthcare to see double-digit growth led by Dabur Honitus.

MOSL ON PETRONET LNG:

Upgrade to Buy from Neutral, Target raised to Rs 410 vs Rs 315, At CMP, PLNG is pricing in an unrealistic scenario of a 20% decline in tariff at both the Dahej and Kochi terminals in FY28 with no tariff hike thereafter and 0% terminal growth, While concerns around a potential tariff cut in FY28 linger.

International Markets:

U.S & Europe:

Particulars     04th  July   Chg. Chg.(%)
Nasdaq** 20,601.10 207.97 1.02
Dow** 44,828.53 344.11 0.77
FTSE 8,822.91 -0.29 00
CAC 7,696.27 -58.28 -0.76
DAX 23,787.45 -146.68 -0.62
Dow Fut.* 44,683.47 -145.06 -0.32

*As per 07thJuly.
**As per 03rdJuly.

Asian markets:

Particulars   07th  July Chg. Chg.(%)
GIFT Nifty                  25,505 -35.10 -0.14
Nikkei 39,628.41 -182.47 -0.46
Straits Times 4,024.95 11.33 0.28
Hang Seng 23,840.06 -76.00 -0.32
Shanghai                         3,469.54 -2.78 -0.08

Stocks strong on Chart:

Index F&O Cash
RELIANCE IRFC RALLIS INDIA
JIOFIN IREDA CEAT
BEL DLF BEML
WIPRO ASHOKLEY MAX ESTATE
INFY PFC NIPPON AMC
TCS RECLTD MINDACORP

Commodities & Currency:

Particulars Current Price Chg.(%)
USD/INR 85.610 0.16
Brent 67.73 -0.83
Gold 96,988 00
Silver 108,438 0.01

FIIs & DIIs:

Particulars       04th July        03rd July
FIIs                          -760.11   -1,481.19              
DIIs -1,028.84 1,333.06

News Updates:

Texmaco Rail: Received Rs 36.3 crore order for 2 rakes with an option for 8 additional rakes from Transport Corporation of India.
Cochin Shipyard: Signed MoU with HD Korea Shipbuilding & Offshore Engineering for long-term collaboration in shipbuilding and maritime development.
Hazoor Multi Projects: Received Rs 913 crore order for a 200 MW solar PV power project in Gujarat.
RVNL: Received letter of acceptance worth Rs 143 crore from Southern Railway for upgradation work.
BEML: Secured two export orders worth $6.23 million.
Source: Moneycontrol, Bloomberg Quint, Investing

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