Buy or sell: Wockhardt to MOIL, Vaishali Parekh recommends three stocks to buy today — April 10
Buy or sell stocks for today: The 30-share BSE Sensex breached the historic 75,000-mark for the first time in the previous session, while the NSE Nifty 50 also hit its fresh lifetime high of 22,768.40, before both domestic equity benchmarks settled in the red dragged by profit-booking and weak global cues. Investors await the US inflation data, which due later in the evening today, while expectations of Fed rate cuts have been easing over strong macro data and sticky inflation in the world's largest economy.
Analysts say that market may experience volatility ahead of the release of January-March quarter results for fiscal 2023-24 (Q4FY24) which are scheduled to begin later this week. The Nifty 50 settled 23.55 points or 0.10 per cent lower at 22,642.75 on April 9.
Sensex hit its fresh record high of 75,124.28 during the session, but erased all gain and closed the day at 0.08 per cent or 59 points lower at 74,683.70. Also Read: Exide Industries hits back-to-back 52-week high on EV deal with Hyundai, Kia; Time to buy? In the broader market, the BSE Midcap index underperformed the benchmark ending 0.47 per cent lower after hitting its new record high of 41,172.56.
The BSE Smallcap index fell 0.15 per cent, mirroring cautious buying sentiment. Additionally, international crude oil prices declined on Tuesday, easing for the second straight session over Gaza ceasefire discussions, however, analysts have pegged the near-term range of Brent crude futures to be in the range of $85-95 per barrel due to the ongoing geopolitical conflicts in the Middle-East.
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