Latest news with #RBIPolicy
Mint
14 hours ago
- Business
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Bajaj Finance, Godrej Properties shares today
Stock market today: Indian shares began the day on a positive note on Monday, supported by favourable global signals, which include robust US job statistics and progress in trade discussions between the US and India, alongside the Reserve Bank of India's (RBI) substantial monetary policy actions. Sensex jumped 480.01 points to 82,669 in early trade; Nifty 50 surged 157.05 points to 25,160.10. On Friday, the Nifty 50 and Sensex increased by approximately 1% each after the RBI unexpectedly lowered the repo rate by 50 basis points and cut the cash reserve ratio (CRR) for banks by 100 bps. On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to challenge the upper band of consolidation placed at 25,100. Shah has recommended two stocks to buy for short-term. Here's what he expects from Indian stock market next week, along with his stock recommendation. Equity benchmark resumed uptrend after two weeks breather and settled eventful week at 25,003, up 1%. Meanwhile, broader market continued with its relative outperformance and gained 3% each. Rate sensitives sectors like realty, capital market remained at forefront followed by defense and metals. The weekly price action formed a bull candle, indicating resumption of uptrend On expected lines, Nifty 50 managed to hold 24,500 mark and staged a strong rebound as RBI Policy boosted market sentiment. The resumption of uptrend after shallow correction confirms that the bull market template is still intact. Meanwhile, Bank Nifty clocked a fresh All time high after 6 weeks hiatus that would provide impetus for Nifty 50 to challenge the upper band of consolidation placed at 25,100 and open the door for next leg of up move towards 25,500 in coming weeks. Hence, bouts of volatility tracking geopolitical escalations should be capitalized as a buying opportunity as we expect Nifty 50 to hold the key support of 24,500 in the coming week The broader market outperformance was clearly reflected in the ratio chart of Nifty 500 / Nifty 100 that continued to inch northward. The current rally is backed by significant improvement in the market breadth as 55% stocks of Nifty 500 universe are trading above their long term 200 days SMA compared to a month back reading of 30% that augurs well for durability of ongoing up move. The RBI surprised the market with a larger than expected (50 basis points) rate cut that coupled with CRR cut would assist economic growth. Consequently, rate sensitive sectors like Banking, NBFC, Realty, Auto, Capital Goods would be in focus, going ahead. Key monitorable which would provide cushion to the ongoing up move: US and India Inflation data FII's inflow Further weakness in US Dollar index and Brent crude oil prices Bilateral Trade Agreement between India and US Dharmesh Shah of ICICI Securities recommends buying Bajaj Finance, Godrej Properties shares today. Buy Bajaj Finance shares in the range of ₹ 9,100-9,372. He has Bajaj Finance share price target of ₹ 10,380 with a stop loss of ₹ 8,522. Buy Godrej Properties shares in the range of ₹ 2,350-2,470. He has Godrej Properties share price target of ₹ 2,748 with a stop loss of ₹ 2,218. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 06/06/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Times of Oman
3 days ago
- Business
- Times of Oman
RBI policy brings cheer for Indian stocks: Nifty Bank soars over 800 points, realty skyrockets
New Delhi: The Indian stock indices ended on a strong note and surged after the larger-than-expected policy rate cut, reflecting elevated optimism among the market participants on the last trading day of the week. At the end of the trading on Friday, the BSE Sensex was at 82,188.99, up 746.95 points or 0.92 per cent, and the Nifty 50 was up 252.15 points or 1.02 per cent. The market analysts say that the RBI's decision to cut the repo rate exceeds expectations and gives a strong message to the markets that the apex bank is willing to move aggressively when macroeconomic conditions allow. Following the MPC outcome announcements, Nifty Bank hit a new high, and the Central Bank was surprised with a larger-than-expected policy rate cut of 50 basis points, taking the repo rate to 5.5 per cent. The Nifty Bank ended at 56,578.40, climbing over 817 points. "This big rate cut will impact the margins of the banks and, therefore, bank stocks will be under pressure in the near term. However, the credit growth that this rate cut will hopefully stimulate will compensate for the dip in margins," said VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited. "The Indian stock market responded optimistically to RBI's surprise and aggressive growth push policy," Vijayakumar further added. CS Setty, Chairman at State Bank of India & Chairman at IBA said, "RBI today's monetary policy communication was action-packed - innovative, out of the box and an unanticipated surprise." "The policy is definitely positive for all sectors of the economy, particularly for banking and finance. In particular, lower cost of borrowing will act as a counterbalance to any uncertainty," he added. The investors also reacted strongly to the Realty, which rose over 4 per cent. Reacting to the rate cut announcement, Mayank Jain, CEO, KREEVA, a real estate developer, said, "The reduced borrowing cost will not only strengthen homebuyers' sentiments but also help in easing the liquidity flow in the market. "In light of significant market volatility and real estate witnessing a surge in the investment flow, this proactive approach signals the central bank's strong commitment to thrust economic momentum and boost investor confidence," Jain added.
Mint
4 days ago
- Business
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today — 6 June 2025
Buy or sell stocks: Ahead of the weekly expiry, the Indian stock market ended higher on Thursday. The Nifty 50 index ended 130 points higher at 24,750, the BSE Sensex finished 443 points upside at 81,442, while the Bank Nifty index added 84 points and closed at 55,760. Eternal, Trent and Dr Reddy were major gainers on the Nifty, while major losers were IndusInd Bank, Tata Consumer, and Axis Bank. Trading volumes on the NSE cash market were higher by 6% compared to Wednesday's session. The Mid-cap and the Small-cap indices continued to outperform the benchmark. The Nifty Mid-cap 100 Index rose by 0.53%, while the Nifty Small-cap 100 Index surged by 0.96%. Nifty small-cap index continued its upward journey for the fourth day to close at a four-month high. Market breadth remained positive for the fourth consecutive day, with advancing stocks outpacing declining ones, as indicated by a BSE advance-decline ratio of 1.33. Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market bias is sideways as the market is awaiting the outcome of the RBI MPC meeting. The Prabhudas Lilladher expert said the Nifty 50 index needs to break above 25,000 on a closing basis to turn the sentiment bullish. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index witnessed a highly volatile session with huge fluctuations taking the index to touch 24,900 level during the intraday session but ended near the 24750 zone with profit booking happening during the post-lunch session. Market players are awaiting the RBI Policy outcome, which can trigger further fluctuations and have important support near the 24500 zone, which needs to be sustained; the index needs to breach above the tough hurdle near the 25000 levels and thereafter expect a fresh upward move in the coming days." "The Bank Nifty index, amid the volatility, failed to cross above the 56000 zone and closed almost on a flat note near the 55750 zone, anticipating a positive outcome from the RBI Policy announcement. As said earlier, the index needs a decisive breach above the 55800 zone to give a breakout above the tight range and expect a fresh move on the upside. At the same time, it needs to sustain above the crucial support of the 54500 level to maintain the overall bias intact," said Parekh." Parekh said that today, the Nifty's immediate support is at 24600, while the resistance is at 25000. The Bank Nifty will have a daily range of 55,300 to 56,200. Regarding stocks to buy today, Vaishali Parekh recommended buying these three buy-or-sell stocks: HDFC AMC, Religare, and Hindustan Zinc. 1] HDFC AMC: Buy at ₹ 4866, Target ₹ 5100, Stop Loss ₹ 4760; 2] Religare: Buy at ₹ 230, Target ₹ 250, Stop Loss ₹ 220; and 3] Hindustan Zinc: Buy at ₹ 474, Target ₹ 500, Stop Loss ₹ 465. Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
