The NSE Nifty 50 and BSE Sensex opened flat on Friday as investors remained on the sidelines before the Reserve Bank of India's rate decision. Most traders expected the central bank to deliver a quarter-basis-point rate cut.
Later, however, the RBI announced a repo rate cut of 50 basis points to 5.5%. Both the NSE Nifty 50 and BSE Sensex advanced 0.83% and 0.77% higher, respectively. The indices traded at day's high around 11:02 a.m.
The NSE Nifty Bank also rose 0.80% to a record high of 56,205.
Amid the buzz of repo rate cut, Motilal Oswal Financial Services Head of Technical and Derivatives Research Chandan Taparia shared his top stock picks for the day with NDTV Profit.
PB Fintech
Taparia recommends buying the stock at Rs 1,886 with a price target of Rs 1,985 and suggested booking your losses at Rs 1,835.
Out of 20 analysts tracking the company, eight have a buy call, three suggest holding the stock and nine advise selling it, as per Bloomberg data.
Hindustan Zinc
Hindustan Zinc Ltd. got a 'buy' call as well. Taparia recommended buying the stock at Rs 1,585, with a stop loss at Rs 1,545 and a price target of Rs 1,660.
Out of 16 analysts tracking the company, six recommend buying the stock, three recommend holding it, and seven have a 'sell' call, according to Bloomberg data.
Computer Age Management Services
CAMS is a 'buy' for Taparia, at a price of Rs 4,248. He advised investors to book their losses at Rs 4,095 and have a target price of Rs 4,720.
Out of 15 analysts tracking the company, 11 suggest 'buy', three recommend 'hold' and one has a 'sell' call.
Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.
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