Stocks to buy today: MCX, IndusInd Bank among top 6 trading ideas for 6 February 2025
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Indian benchmark equity indices opened higher on Thursday, driven by gains in financial and IT stocks, as optimism over a potential rate cut later this week to boost economic growth outweighed concerns about global trade uncertainty. At around 9:19 am, the BSE Sensex was up 151 points, or 0.19%, at 78,422, while the Nifty50 gained 34 points, or 0.14%, to trade at 23,730. "After a positive opening, Nifty can find support at 23,600 followed by 23,500 and 23,400. On the higher side, 23,800 can be an immediate resistance, followed by 23,900 and 24,000," said Hardik Matalia, Derivative Analyst at Choice Broking. “The market is moving into a consolidation phase on expectations of a pick up in growth in the coming quarters. In the near-term the market is likely to get a mild boost from a possible 25 bp rate cut by the MPC tomorrow. Even though steadily depreciating INR doesn’t provide a favourable macro backdrop for a rate cut, the MPC...
