This triggered risk aversion among investors, weakening the rupee and pushing bond yields higher. The volatility index (India VIX) surged more than 10%, reflecting growing market uncertainty. Profit booking in banking, financials, energy, auto, pharma, and metal stocks contributed to the decline.

Adding to the pressure, hawkish comments from the US Federal Reserve on rising inflation and unemployment risks further unsettled investors.

Top stock picks to add to your basket on 9 May, as recommended by market experts.

Here are three stocks to trade, as recommended by Raja Venkatraman for Friday, 9 May:

ACC (current price ₹1801.60)

Sell rally to ₹1,850 | Stop ₹1,880 | Target ₹1,750-1,675

Why it’s recommended: ACC has faced margin pressures due to fluctuating raw material costs, heightened competition in the infrastructure sector, and demand volatility in real estate. Despite these challenges, steady urbanisation and government-led infrastructure projects continue to support long-term growth prospects.

Key metrics: P/E: 28 | 52-week high: ₹2,750 | Volume: 1.5M

Technical analysis: Support at ₹1,600 | Resistance at ₹1,900.

Risk factors: Rising transportation costs, regulatory shifts in construction norms, and price sensitivity in bulk contracts.

Sell: Rally to ₹1,850.

Target price: ₹1,750-1,675 in one month.

Stop loss: ₹1,880.

BHARTI HEXA (current price ₹1,730)

Buy above ₹1,730 and dips to ₹1,650 | Stop ₹1,625 | Target ₹2,045-2,150

Why it’s recommended: Bharti Hexa remains a key player in telecom, benefiting from increasing data consumption and strong subscriber additions. However, industry-wide concerns about tariff hikes, competitive pricing wars, and 5G rollout costs weigh on the stock.

Key metrics: P/E: 25 | 52-week high: ₹1,752 | Volume: 535.18K

Technical analysis: Support at ₹1,290 | Resistance at ₹2,150.

Risk factors: Spectrum costs, regulatory changes, and competition from new entrants.

Buy: Above ₹1,730 and dips to ₹1,650.

Target price: ₹2,045-2,150 in one month.

Stop loss: ₹1,625.

Also Read: Dabur stock lacks triggers amid weak financial show

KIRLOSBROS (current price ₹1,840)

Buy above ₹1,850 on dips to ₹1,800 | Stop ₹1,770 | Target ₹1,900-1,945

Why it’s recommended: KirlosBros has maintained steady growth, driven by robust demand for industrial pumps and engineering solutions. However, exposure to cyclical industrial demand, rising input costs, and supply chain constraints could pose challenges.

Key metrics: P/E: 42 | 52-week high: ₹2,637 | Volume: 194.6K

Technical analysis: Support at ₹1,600 | Resistance at ₹2,190.

Risk factors: Commodity price fluctuations, logistics disruptions, and macroeconomic uncertainties.

Buy: Above ₹1,850 and dips to ₹1,800.

Target price: ₹1,900-1,945 in one month. 

Two stock recommendations by MarketSmith India for 9 May:

Buy: Aptus Value Housing Finance (current price: ₹325)

● Why it’s recommended: Focused niche in affordable housing finance, strong asset quality, and conservative lending

● Key metrics: P/E: 21.30, 52-week high: ₹ 402, volume: ₹36.97crore

● Technical analysis: Bounced back from its 200-DMA

● Risk factors: Competitive pressure in affordable housing finance and geographical concentration risk

● Buy at: ₹ 325

● Target price: ₹ 360 in three months

● Stop loss: ₹ 310

Buy: ITC Ltd (current price: ₹ 430)

● Why it’s recommended: Strong financial performance, growth prospects, market position, and operational efficiency

● Key metrics: P/E: 26.69, 52-week high: ₹ 495, volume: ₹ 855.30 crore

● Technical analysis: Bounced back from its 100-DMA

● Risk factors: Overvaluation concerns, high ESG risk rating

● Buy at: ₹ 430

● Target price: ₹ 460 in three months

● Stop loss: ₹ 421

Read this | What should investors expect from the ITC Hotels demerger?

Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.

MarketSmith India: Trade name: William O’Neil India Pvt. Ltd. Its Sebi-registered research analyst registration number is INH000015543.

Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.”