Stock market today: The Indian stock markets saw declines for the second week in a row, with both the Nifty 50 and Sensex dropping by nearly 0.4%, ending the week at 24,750 and 81,451, respectively, on May 31. Meanwhile, the Bank Nifty index showed better performance, rising by 0.63% to finish at 55,749, thanks to robust results in the banking sector.
Experts note that domestic economic indicators are promising, such as an improved monsoon forecast, a stable inflation trend, and an encouraging Q4 GDP growth rate of 7.4%, which could mitigate risks. The market appears to be anticipating a 25 bps rate cut, which would enhance projections for sectors sensitive to interest rates. While the favourable macroeconomic conditions may uplift investor confidence, the stability of the wider market will rely on substantial earnings growth and diminishing trade disputes.
On the technical front, Dharmesh Shah, Vice President at ICICI Securities, expects Nifty 50 to consolidate in the broader range of 25,100-24,500 amid positive bias.
Shah has recommended two stocks to buy for short-term. Here’s what he expects from Indian stock market next week, along with his stock recommendation.
b. RBI’s commentary on rate cut
c. Persistent FII’s inflow
d. Further weakness in US Dollar index and Brent crude oil prices
e. Bilateral Trade Agreement between India and US
Stocks To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying HEG, and Larsen & Toubro shares to buy tomorrow.
Buy Larsen & Toubro shares in the price range of ₹3,420-3,672. He has Larsen & Toubro share price target of ₹3,928, and suggests maintaining a stop loss of ₹3,264.
Buy HEG shares in the price range of ₹493-522. He has HEG share price target of ₹578, and suggests maintaining a stop loss of ₹467.
Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 30/05/2025 or have no other financial interest and do not have any material conflict of interest.
The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
