Stocks to buy—10 February: Ankush Bajaj recommends three stocks for today
Subscribe to enjoy similar stories. The Nifty 50 closed nearly flat on Friday, slipping into negative territory after the Reserve Bank of India (RBI) anncounced a 25 basis point cut. Markets remained volatile initially due to the policy impact but later stabilized, ending the session with minor losses.
India VIX (Volatility Index) declined by 3.46%, indicating a decrease in overall market fluctuations. The Nifty 50 index fell 43.40 points (-0.18%) to close at 23,559.95, while the Bank Nifty dropped 223.25 points (-0.44%) to settle at 50,158.85. Sectoral trends reflected mixed sentiment—PSU Banks (-1.38%), FMCG (-1.30%), and Oil & Gas (-0.90%) saw notable declines, while Metal (+2.66%), Auto (+0.69%), and India Consumption (+0.42%) closed in positive territory, showing resilience.
Among Nifty 50 stocks, Tata Steel (+4.35%), Bharti Airtel (+3.52%), and JSW Steel (+3.41%) led the gainers, reflecting strong buying interest in select metal and telecom stocks. On the downside, ONGC (-2.83%), ITC (-2.32%), and SBI (-2.0%) were the top laggards, suggesting profit booking in heavyweight stocks. Despite the initial volatility, the market found stability as traders digested the RBI’s policy move.
While selling pressure persisted in PSU Banks and FMCG stocks, selective buying in Metal and Auto stocks helped cushion the broader indices. The Nifty opened on flat with a positive bias on Friday, but gradually declined towards the 10-DEMA at 23,493, closing 30 points lower. In the final hour, it rebounded from a crucial support level near 23,443 but still closed below the 200-DEMA at 23,620.
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