Buy or sell: Aarti Industries to IGL, Vaishali Parekh recommends three stocks to buy today — April 24
Buy or sell stocks for today: Frontline indices Nifty 50 and Sensex settled higher for the third consecutive session yesterday driven by firm global cues and easing Middle East conflict. A major drop in the volatility index indicated that market participants are confident about the near-term trajectory.
Nifty 50 closed the day at 22,368, up 32 points, or 0.14 per cent, while Sensex ended with a small gain of 90 points, or 0.12 per cent, at 73,738.45 as gains in shares of select heavyweights such as ITC, Bharti Airtel, and Infosys were largely offset by losses in shares of Reliance Industries. The fear gauge India VIX which indicates how much the Nifty 50 index is expected to change in the next 30 days, fell 20 per cent to reach near the level of 10.
Mid and smallcap indices outperformed the benchmarks. The BSE midcap index rose 0.52 per cent and the smallcap index jumped 1.05 per cent.
Additionally, gold prices extended losses for a second session to hit a more than two-week low as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of US economic data this week. Oil prices rose a dollar a barrel in the previous session as the US dollar index fell to its lowest in over a week and as investors shifted focus away towards global economies.
Brent crude futures rose $1.29, or 1.5 per cent, to $88.29 per barrel. Also Read: India's crude oil consumption up 4.6% in FY24, output rises marginally at 0.6%, imports steady: PPAC Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher said that for Nifty 50, ‘’The zone around 22,000 shall remain as the important support from current levels expecting for further rise.'' The Prabhudas Lilladher expert added
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