Market View 01st September, 2026

View on market: Volatility persists, eagerly searching for growth:

Asian markets opened lower as renewed fighting in the Middle East increased investor concerns and weakened market sentiment. Fresh military exchanges between the US and Iran, including developments around the Strait of Hormuz, raised fears of further regional instability and possible disruption to global trade and energy supplies. US markets ended on a weaker note as investors reacted to the renewed tensions between the US and Iran. The uncertainty encouraged a cautious approach among investors and put pressure on major US indices. Indian equity markets also ended lower in the previous session. Selling pressure was mainly seen in metal and IT stocks, which dragged the benchmark indices down. Overall, global markets remain under pressure as geopolitical tensions continue to create uncertainty and investors closely monitor developments in the Middle East.

Economic Calendar:

• USD: S&P Global and ISM Manufacturing PMI Data on 01^st September 2026.
• IND: S&P Global Manufacturing PMI and Monthly Auto Sales for August Data on 01^st September 2026.
• USD: Export & Import, Initial & Continuing Jobless Claim, S&P Global Composite & Services PMI and ISM Services PMI Data on 03^rd September 2026.
• IND: S&P Global Services and Composite PMI on 03^rd September 2026.

BROKERAGE

UBS ON IDFC FIRST:

Target ₹92 Earlier Target ₹78 Recommendation Neutral, Improving earnings outlook, Asset quality outlook improving, but high C/I ratio limits RoA expansion, Branch expansion to support loan growth; margins to remain stable, Asset quality improving, but likely already priced in, Expect growth to pick up gradually in the high yielding book, though it is likely to lag overall loan growth, Consequently, NIMs are likely to remain stable at 5.8% over FY27-29.

GOLDMAN SACHS ON ICICI BANK:

Target ₹1935 Recommendation Accumulate, Management highlighted that loan growth remains strong, helped by MSME segment and pickup in secured as well as unsecured retail loans, Bank has sustained strong market share in FCNR (B) deposit mobilization which is expected to be earnings accretive, Overseas NIM will moderate given self-funded FCNR (B) deposit-related loans.

GOLDMAN SACHS ON HYUNDAI:

Target ₹2640 Recommendation Accumulate, Expect H2FY27 industry growth on high base + margin levers, To launch compact EV in Q4 and compete in the Nexon segment, All Hyundai EV model will be PLI compliant from day one, New Mid Size SUV expected to be in the Creta category but will be a technology first/Software Defined Vehicle, to be launched.

JEFFERIES ON RIL:

Target ₹1710 Earlier Target ₹1705 Recommendation Accumulate, O2C Strength Supports FY27 Earnings, 4% of global refinery throughput has been lost due to conflicts resulting in diesel and gasoline inventories falling to 5-year lows, Singapore GRM prevails near life-high as a result, The tightness could last through CY2026, Petchem spreads remain firm supporting O2C earnings growth in FY27E.

International Markets:

U.S & Europe:

*As per 01^st September.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

News Updates:

Source: Moneycontrol, Bloomberg Quint, Investing

View on market: Volatility persists, eagerly searching for growth

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