Stocks to buy or sell: Dharmesh Shah of ICICI Securities suggests buying Kotak Bank, JK Lakshmi Cement tomorrow – 10 Feb

Stock Market News: The domestic benchmark indices, Nifty 50 and Sensex, finished in the negative on Friday after the Reserve Bank of India (RBI) declared a 25 basis points (bps) reduction in the repo rate, lowering it to 6.25 percent. This was the first rate cut in more than five years, indicating a move to stimulate economic growth amidst global uncertainties.

The Sensex dropped by 197.97 points, closing at 77,860.19, while the Nifty 50 fell by 43.40 points, wrapping up the day at 23,559.95. Among the Nifty 50 stocks, 28 rose in value while 23 saw declines.

Vinod Nair, who is the Head of Research at Geojit Financial Services, remarked that the rate cut intended to stimulate the faltering economy is a sign of positivity. Nonetheless, yields rose slightly as investors reacted negatively to the lack of expected liquidity measures, which led to profit-taking in the indices.

Moreover, a downward adjustment in the short-term growth outlook, affected by global trade issues and inflation worries, indicates that the central bank will likely pursue a careful and gradual strategy for future rate changes.

Experts believe that the coming week will be quite eventful for both global and Indian markets, influenced by significant macroeconomic data releases and corporate earnings reports. Market sentiment will be impacted by inflation statistics, industrial production data, and major earnings announcements.

Stock To Buy This Week – Dharmesh Shah

Dharmesh Shah of ICICI Securities recommends buying Kotak Mahindra Bank, and JK Lakshmi Cement this week.

1. Buy Kotak Mahindra Bank in the range of ₹1,890-1,955 for the target of ₹2,120 with a stop loss of ₹1,789.

2. Buy JK Lakshmi Cement in the range of ₹820-875 for the target of ₹994 with a stop loss of ₹754.

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 07/02/2025 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.