Financial & Markets Update- 07 Feb 25
Here we are, on crucial day where shortly RBI Governors MPC meeting decision will decide the course of market atleast for next few days. Fingers are crossed🤞🤞Besides cut in rate , nothing else can boost market from here… !! And if it happens a good rally of 1-2% can be expected today.
And in case if nothing happens or no cut happens… Nothing can stop market to go down further from here by around 1 to 1.5% from here.
Yesterday market did open in Green, but slowly slipped into flattish mode and ending day in Red. Although Pharma & IT stock rose but rest all struggled.
The FII are non stop withdrawing funds from Indian Markets and DII doing non stop purchase. Yesterday FII were net sellers with minus 3500 cr and DII bought for plus 2720 cr.
As per one of survey, highest withdrawals came from US based Europacific Growth Fund who was holding 51460 cr in June 24 and has now dropped by 32392 cr to stand at only 19068 cr.
Zomato/Eternal is now opening wholesale supplies named Hyperpure in India.
Market Today
US markets were mixed as S&P 500 and Nasdaq ended higher and Dow Jones was down.
Asian markets are trading mixed.
Indian markets are all set to open flattish and a muted start is expected . Sideways or flattish momentum is expected till MPC meeting announcements are made. Post same… It’s all on declaration by RBI Gov 🤞🤞🤞🤞
But technically HDFC securities feels that Near Term uptrend of Nifty remains intact. And in case Nifty goes down, the weakness could end around 23500-23450 levels in short term and one may expect upside bounce from lows soon.
A decisive move above 23800 can pull out market from negative sentiments.
India VIX levels have gone up marginally to settle at 14.18 levels as last two days flat and negative closure have increased fear in markets.
233 companies are lines up today for their Q3 results incl M&M, LIC, Mazgaon Dock etc
Stock News
ITC declares a huge dividend of Rs 6.5. Record date is 12 Feb✅.
ITC net profit down 7%❌
Airtel Q3 profit rose to over 500%✅
Aadhar Housing Q3 profit rises 17%✅
Zomato has approved changed in its legal name to Eternal.🟡
Indigo Airlines recieves a 113 cr notice from Delhi GST auth and 2.8 cr notice from Chennai GST auth. ❌
SBI net profit rose 70% ✅
REC net profit rose by 23%✅ and they have declared a dividend of Rs 4.3 with record date as 14 Feb. This is 3rd dividend of this FY✅
Gulf Oil lubricant declares an interim dividend of Rs 20 with record date of 14 Feb✅
Sobha profit of Q3 up by 44%✅
Much hyped Swiiggy is now trading below it’s IPO price.
Recommendations by Brokerage Houses
So as results are pouring in, the big brokerage houses are active analyzing the future of stocks and are issuing their recommendations .. I have compiled some recommendations for the readers here…
Geojit BNP Parinbas recommendations-
Dabur– BUY
CMP- 526
Tgt – 597
Exide – HOLD
CMP- 378
Tgt- 423
JSW Energy- HOLD
CMP- 494
Tgt- 538
Brigade Enterprise- BUY
CMP- 1155
Tgt- 1282
Axis Direct recommendations
Global Health- BUY
CMP- 1168
Tgt- 1270
V Mart – BUY
CMP- 3553
Tgt- 4370
J Kumar infra- BUY
CMP- 767
Tgt- 940
Birla corp- BUY
CMP- 1189
Tgt 1340
KR Choksey recommendations
Poonawalla Fin- BUY
CMP- 318
Tgt 370
Infibeam Avenues- BUY
CMP- 23
Tht 28
ICICI Sec recommendations
Tata Lower BUY
CMP- 365
Tgt- 470
Motilal Oswal securities recommendations
Tata Power – BUY
CMP- 365
Tgt 490
Aditya Birla- BUy
CMP 169
Tgt
240
Gold/Silver
Gold and silver had corrected marginally yesterday and Gold is now trading at 87580 and Silver near 95000.
So wait and watch for today’s RBI Governor address . Expecting some positive news for markets… All the best to all
Happy Investing
Note: All investments are subject to market risks. Please check the fundamentals and other stock market parameters carefully in detail before investing. Also, it is always good to consult a qualified financial advisor for stock market investments. Opinions and Recommendations above are Authors’ personal, you are should carry out your own checks & balances and due diligence before investment.
