Buy or sell: SBI to Mukand — Vaishali Parekh recommends three stocks to buy today — April 12
Buy or sell stocks for today: Following strong global market sentiments, the Indian stock market ended higher on Wednesday. Two out of three benchmark indices — the Nifty 50 and the Bank Nifty — climbed to a new peak of 22,775 and 49,057 respectively. The Nifty 50 index had the highest-ever closing of 22,753 as well.
The BSE Sensex finished above the psychological 75,000 mark at 75,105 mark, just 19 points away from the lifetime high of 75,124. In the broad market, the mid-cap index outperformed the Nifty 50 index even as the advance-decline ratio rose to 1.13:1. Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher believes that the overall Indian stock market sentiment is positive.
The Prabhudas Lilladher expert said that the Nifty 50 index has almost achieved its initial target of 22,800 and on breaching this level, the 50-stock index may head towards the 23,200 mark. On stocks to buy today, Vaishali Parekh recommended three buy or sell stocks for today — State Bank of India (SBI), Sumitomo Chemical India, and Mukand. On the outlook for the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index index has slowly and gradually surged ahead making new highs with the overall bias and sentiment maintained strong with the initial target of 22,800 almost achieved.
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