MPC’s Policy Decision

Segments to look at

On segments that may trade volatile ahead of RBI policy meeting outcome, On intraday trading strategy in the wake of RBI MPC meeting, Santosh Meena, Head of Research at Swastika Investmart, said, "Rate-sensitive sectors such as banking, NBFCs, real estate, auto, and infrastructure are likely to remain in focus."

Stocks to buy today

On stocks that should be in focus of intraday traders and positional investors, Swastika Investmart experts said that stocks like DLF, Godrej Properties, and M&M Finance may remain volatile on policy day.

On segment-wise stocks to look at, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, "In the auto segment, one can look at Mahindra & Mahindra (M&M) and Tata Motors shares; in the banking sector, one can look at Bank of Baroda, Punjab National Bank and ICICI Bank shares."

In third RBI monetary policy meeting of the financial year 2023-24, the RBI MPC unanimously decided to keep the repo rate steady at 6.50 percent, which most of the economic experts were expecting. However, the RBI governor announced that retail inflation during FY24 would be around 5.4 percent, compared to 5.1 percent in FY23. The RBI governor predicted GDP growth of 6.50 percent in FY24 as well.

Read more:

1. Day trading guide for today: Six stocks to buy or sell on Thursday — August 10 - Mint
2. RBI policy: Stock market experts suggest ‘buy on dips’ strategy in these interest rate sensitive sectors - Mint
3. On a fast track: Rail stocks climbed up to 170% in just 4 months. Here’s why the momentum will sustain - Business Today