Stocks to buy or sell: Dharmesh Shah of ICICI Securities suggests buying Ultratech Cement tomorrow – 27 January 2025 | Stock Market News
Source: Live Mint
Stock Market News: The domestic benchmark indices, Nifty 50 and Sensex, experienced losses on Friday, marking the third consecutive week of declines amid rising worries about slowing corporate earnings. The Nifty 50 closed down 0.49% at 23,092.2, while the Sensex dropped 0.43% to settle at 76,190.46. Throughout the trading session, both indices oscillated between gains and losses.
This decline is notable particularly because it contrasts with a positive trend in global markets. These markets were boosted by expectations of a more lenient US trade policy towards China and potential reductions in interest rates, following comments from President Donald Trump.
In India, however, investors are struggling to find good news as the ongoing earnings season has largely been described by analysts as “disappointing” for the third quarter. The combination of this disappointing earning outlook and the uncertainty surrounding US trade policies since Trump took office has cast a shadow over Indian markets, leading to a weekly loss of about 0.5% for the benchmarks.
Vinod Nair, Head of Research at Geojit Financial Services, noted that the market wrapped up the week on a pessimistic note, characterized by a sell-on-rally mentality. The realty sector experienced the steepest declines as investors grew cautious due to shrinking prospects for interest rate cuts and disappointing industry data. The PMI figures added to the bearish sentiment, coming in weaker than anticipated.
On a slightly brighter side, the IT sector delivered results that met expectations, and there are early signs of a rebound in discretionary spending, suggesting potential recovery. Key upcoming events, such as the FOMC meeting and the Union Budget, are likely to significantly impact market sentiment. The FOMC’s hawkish stance continues, although there are murmurs from Trump regarding rate cuts that could inject a favorable outlook in the future. While expectations surrounding the Union Budget are generally low, the absence of negative surprises during this critical event could help ease market anxieties.
Stock To Buy This Week – Dharmesh Shah
Dharmesh Shah of ICICI Securities recommends buying Ultratech Cement this week.
1. Buy Ultratech Cement in the range of 10,900-11,300 for the target of 12,430 with a stop loss of 10,440.
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 24/01/2025 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.
