Stocks to buy today: Experts recommend these five shares ahead of RBI policy meeting
- Stocks to buy today: Experts have recommended these five shares to buy — M&M, Maruti Suzuki India, Axis Bank, DLF and Prestige
Stocks to buy today: The Reserve Bank of India's (RBI's) Monetary Policy Meeting (MPC) is underway as RBI policy meeting has been scheduled from 4th to 6th October 2023. This means, outcome of RBI MPC meeting is expected on Friday i.e. today. However, market is expecting no change in rate hike and hence Dalal Street has already started discounting the possible RBI's policy meeting outcome.
According to stock market experts, Dalal Street is expecting status quo on interest rates and hence rate sensitive segments like banking, auto, realty and consumer durable segments have started to give big movement ahead of the RBI policy meeting outcome.
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They said that Q2 results for FY2023-24 would be beginning from next week. Hence, one should buy stocks in such a way that they benefit from both RBI MPC meeting outcome and quarterly results season. They advised investors to buy stocks of the above mentioned sectors that deals in premium product segments.
RBI MPC meeting in focus
On possible outcome from the RBI Policy meeting, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "As RBI policy meeting outcome is coming today, and there is buzz about status quo on interest rates, we are expecting movement in rate sensitive segments like banking, real estate, auto and consumer durables. But, one needs to remain vigilant about the reasults season begining next week."
Avinash Gorakshkar said that segments like banking, auto, real estate, etc are expected to witness rise in volume of sales and they are rate sentive segments as well. So, its better to buy and hold stocks from these segments and wait for some time. These stocks are expected to give better returns in near term.
Stocks to buy today
Advising investors to focus on premium product oriented companies, Saurabh Jain, Vice President — Research at SMC Global Securities said, "In the quarter ended recently, premium product sales are expected to witness spike. So, in auto segment one may look at Mahindra & Mahindra (M&M) and Maruti Suzuki India. On real estate segment I will bet upon DLF and Prestige whereas in banking segmebnt, I will go with Axis Bank shares."
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 decisions.
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