Market View 8th Jan, 2025

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

Asian stock markets followed U.S. markets lower after a decline in U.S. Treasuries, fueled by expectations that the Federal Reserve may not reduce interest rates soon due to ongoing inflation risks. However, U.S. stock indices showed slight gains on Tuesday, with the S&P 500, Nasdaq, and Dow Jones all edging higher. The rally was driven by sectors such as oil, gas, and financials, helping to reverse two days of losses. Investors were also awaiting upcoming U.S. jobs data, which could influence future market moves. Meanwhile, Indian stock markets ended on a positive note, with the Nifty 50 and Sensex both seeing gains. The Nifty 50 rose, reflecting a 0.39% increase, while the Sensex gained 0.3%. The positive momentum in Indian stocks was led by a broad-based rally. Overall, global and domestic markets reflected cautious optimism amid concerns about inflation and interest rate hikes, with investors focusing on key economic data.

 

Key Today’s Q3 Results

ADARSH, RHFL, TARIL and VIVIDM.

 

Economic Calendar:

• USD: Unemployment Rate (Dec) on 10th January 2025.
• IND: Foreign Reserves USD on 10^th January 2025.
• USD: Federal Budget Balance (Dec) on 13^th January 2025.
• IND: CPI (YoY) (Dec) on 13^th January 2025.

IPO Watch:

Brokerage Radar:

EMKAY ON PAYTM (ANALYST MEET):

Expects to regain 100mn MTU by the next 12-18 months, Positive results seen post NPCI approval, Q3FY25 GMV growth to improve due to the festive season, Cautious approach to fresh lending by Paytm and partners.

MACQUARIE ON HDFC BANK:

Maintain Outperform, target price 1900,  Listing of HDB Financial Services to have minimal impact, Expected 1%-3% impact on HDFC Bank’s market price, ROA dampened by higher credit costs and lower BPO services revenue in 1HFY25, Draft RBI regulations create overhang on SOTP valuations.

JEFFERIES ON GAIL:

Maintain Buy, target price ₹235, Should gain share in transmission with two major pipelines commissioning in FY26, India’s gas demand outlook remains robust, Favourable risk-reward, Transmission business rerating likely with tariff hike by Mar-25.

International Markets:

U.S & Europe:

*As per 8^thJanuary.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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