Stocks to buy today: Experts recommend these 5 shares to buy in stock market today

Stocks to buy today: After announcement of RBI MPC meeting outcome with no negative surprise, market has gone highly bullish as Nifty 50 index hit 21,000 levels and touched a new peak of 21,006 during Friday deals. Likewise, BSE Sensex too climbed to a new high of 69,888.

According to stock market experts, investors still have an opportunity to maximise their returns in this bull trend. They said that RBI's growth projection has gone down well on Dalal Street and bulls' have come strongly after the announcement of RBI's MPC meeting outcome. They said that infrastructure projects are expected to run in full swing in next one to two quarters. Hence, banking, realty and auto sector stocks are expected to generate alpha return in upcoming sessions.

Speaking on stock marekt outlook after RBI's growth projection, Sandeep Pandey, Founder & Director at Basav Capital said, "After RBI's growth projection and raising forecast for GDP growth in FY24 by 50 bps, market is highly bullish on infra sector. This will raise demand for project liquidity leading to netter quarterly numbers of banks. Apart fromt his rising GDP and economic growth means rise in per capital income too. So, auto and realty sector stocks are expected to come under the radar of Dalal Street bulls in near term."

Sectors to look at

On how rise in income would fuel demand in auto and real estate sector, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "In the wake of rise in income, one's expenditure goes upside as well. In that case, people buy new vehicle, upgrade from two sheeler to four wheeler, and from basic four wheeler to high end four wheelers, move from rented accomodation to own house or from small flats to biggre flats. So, demands in auto and real estate segment is expected to shoot up in the wake of RBI's growth projection for FY24."

Stocks to buy today

On shares to buy in stock market today, stock market experts recommended investors to look at buying large-cap stocks in auto, banking and real estate segments. They listed out State Bank of India (SBI), Axis Bank, HDFC Bank, Oberoi Realty and Mahindra & Mahindra (M&M).

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.