Stocks to buy: Experts recommend these 10 shares to buy after US Fed meeting

Shares to buy today: Despite US Federal Reserve deciding to keep interest rate at 22-year high, the US central bank has signaled three rate cuts in the year 2024. This has opened gates for other assets, especially gold and equities as the US dollar and US treasury yields may feel some heat after this US Fed meeting outcome.

According to stock market experts, Indian economy is already doing well and chances of rate cut in India are more higher than the US central bank. So, rate sensitive segments like auto, real estate, banking etc. are expected to witness some buying interest after this US Fed meeting outcome. They advised investors to look at shares like SBI, Bank of Baroda, ICICI Bank, HDFC Bank, Axis Bank, M&M, Maruti Suzuki India Ltd, Prestige Estates Projects, DLF and Oberoi Realty.

US Fed meeting outcome in focus

On impact of US Fed rate cut outlook on Indian stock market, Saurabh Jain, Vice President — Research at SMC Global Securities said, "After the US Fed rate cut signal, market is expecting interest rate cut in India in near term. This may lead to lower EMI in auto and real estate borrowers. Hence, we are expecting buying interest in these segments. As this is directly related to banking segment, lower EMI may lead to rise in higer sales in these segments, which may help increase in retail lending business of various banks like SBI, Bank of Baroda, ICICI Bank, HDFC Bank and Axis Bank."

Expecting big upside in auto and real estate stocks, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Lower interest rate cycle means higher liquidity in the market or in other worther rise in spending or purchasing power. As higher income leads to rise in sales volume in auto and real estate sector."

Stocks to buy today

On how to make money from stock market after the US Fed meeting outcome, Saurabh Jain of SMC Global Securities said, "One can look at buying shares of SBI, Bank of Baroda, ICICI Bank, HDFC Bank, Axis Bank, M&M, Maruti Suzuki India Ltd, Prestige Estates Projects, DLF and Oberoi Realty."

US Fed meeting outcome

The US Federal Reserve voted on Wednesday to hold interest rates at a 22-year high for a third straight meeting and signaled it expects to make three cuts next year. The US Fed's decision to keep its key lending rate between 5.25 percent and 5.50 percent allows policymakers to determine "the extent of any additional policy firming that may be appropriate," the US central bank said in a statement.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.