Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 3
Buy or sell stocks for today: Indian stock market snapped its three-day winning streak in the previous session dragged by profit booking in select auto and bank stocks and foreign fund outflows. Analysts expect volatility to persisist as investors will closely monitor the Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI) starting Wednesday, with the first outcome for the new fiscal 2024-25 (FY25) to be pronounced on Friday. The RBI's rate-setting panel is expected to maintain a pause on the key interest rates over the current economic growth trajectory and retail inflation data.
The 30-share BSE Sensex benchmark dropped by 110.64 points or 0.15 per cent to settle at 73,903.91 on April 2. During the day, the index dipped 270.78 points or 0.36 per cent to a low of 73,743.77. Also Read: Nifty April series outlook: 4 stocks where investors can park their money; do you own? The broader NSE Nifty dipped 8.70 points or 0.04 per cent to 22,453.30, despite fag-end recovery.
In the broader market, the more domestically-focused BSE smallcap rose1.28 per cent and midcap index gained 1.14 per cent. Analysts said mid and small-cap stocks continued recovery, yet concerns over high valuations stayed. US Fed Chair Powell's speech is due later today which will be keenly eyed by investors for further cues on rate cuts and near-term market movement.
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