Ganesh Dongre of Anand Rathi recommended three stocks to buy on Monday, June 8, 2026, amid cautious market sentiment. The stocks identified were SBI Life, Bharat Electronics Limited (BEL), and Bajaj Finance. This recommendation came as the Sensex and Nifty 50 indices ended modestly lower on June 5, reflecting investor caution following the Reserve Bank of India's revised economic outlook.
The Sensex fell 116.67 points, or 0.16%, closing at 74,243.34, while the Nifty 50 declined by 49.85 points. The Reserve Bank of India lowered its growth forecast for fiscal year 2027 and raised its inflation outlook, influencing market sentiment. Dongre advised investors to adopt a selective stock-picking approach and manage risks carefully given the prevailing uncertainties, including ongoing US-Iran negotiations affecting global markets.
This cautious stance is significant as it reflects broader concerns in the Indian equity market, which has seen fluctuations due to macroeconomic factors and geopolitical tensions. Dongre’s picks—SBI Life, BEL, and Bajaj Finance—represent sectors with potential resilience amid volatility. SBI Life is a key player in the insurance sector, BEL is a government-owned defense electronics company, and Bajaj Finance is a major non-banking financial company, all of which could benefit from selective investment strategies.
The Nifty 50 index’s support level is identified between 23,000 and 23,300, indicating a critical range for market stability. Investors are expected to watch these levels closely as they navigate the current environment shaped by RBI’s economic revisions and global developments. Ganesh Dongre’s recommendations provide a focused approach for navigating these challenges, according to livemint.com.