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The new RBI governor cut the repo rate by 25 bps, focusing on economic growth while maintaining a neutral stance on inflation. With inflation aligned to targets and fiscal prudence, the RBI projected 6.7% GDP growth for FY2025-26. Despite global uncertainties, the RBI emphasized liquidity management and regulatory changes, prioritizing growth while leaving room for further actions in future meetings.

Anand James, Chief Market Strategist at Geojit Financial Services, predicts a short-term market correction following a triple Doji candle formation and exhaustion signals in banking stocks. He suggests any correction could be shallow, with dips offering buying opportunities. Pharma stocks are expected to continue their pullback, and SUMICHEM is recommended as a top pick with a target of Rs 575.

On the daily timeframe, Chambal Fertilizers has formed a bullish candlestick, signaling potential continuation after a seven-month time-wise correction.

Budget 2025 Picks: The Union Budget 2025-26 boosts the Indian consumer sector, with a significant tax relief expected to increase disposable income, driving demand in both essential and discretionary categories. Companies like Tata Consumer and Titan are poised to benefit, with urban and premium segments seeing growth. The budget lays the foundation for long-term consumption growth through increased spending.

The IPO of Ajax Engineering, a concrete equipment manufacturer, will open for public subscription on February 10. The company has fixed a price band of Rs 599-629.

Sector-wise, buying was seen in realty, auto, metal, and telecom stocks, while selling was observed in industrials, energy, FMCG, and oil & gas sectors.

Q3 results this week: This week, 108 companies will announce their Q3 FY25 earnings, including major names like Eicher Motors, Nykaa, Hindalco, and IRCTC. Key earnings dates range from February 10 to February 14, with prominent companies in various sectors such as pharmaceuticals, telecom, FMCG, and auto industries. Investors will closely monitor these results for potential market movements.

Broader indices, including the Nifty and Sensex, have also seen sharp corrections from their highs.

The combined market valuation of six of the top-10 most valued firms surged Rs 1,18,151.75 crore last week, with HDFC Bank and Bharti Airtel emerging as the biggest gainers, in-line with firm trend in equities.