Buy or sell stocks for 9 July 2026: The Indian stock market came under intense selling pressure on Wednesday, giving up a portion of their recent gains as renewed tensions in the Middle East weighed on investor sentiment. The escalation followed fresh attacks by the U.S. and Iran, while U.S. President Donald Trump’s statement that the ceasefire agreement with Iran was “over” further rattled markets, sparking a broad-based sell-off that pushed benchmark indices down by over 2%.
The Nifty 50 dropped 2.12% to close below the 24,000 level at 23,882, while the Sensex declined 2.14% to end the session at 76,503. The fall marked the steepest single-day decline for both benchmark indices since late March.
On Thursday, Asian markets traded on a mixed note as escalating US-Iran tensions and rising crude oil prices weighed on investor sentiment. Japan’s Nikkei 225 advanced 2.17%, while the Topix added 0.54%. South Korea’s Kospi rebounded 2.97% after slipping into bear market territory in the previous session, and the Kosdaq surged 4.17%. Meanwhile, Hong Kong’s Hang Seng index futures pointed to a weaker start.
Back home, Indian benchmark indices Sensex and Nifty 50 are expected to open higher, supported by short-covering following Wednesday’s sharp decline. However, investor sentiment is likely to remain cautious amid renewed geopolitical tensions between the US and Iran and firm crude oil prices.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, said Nifty after a weak gap down opening, further crashed heavily post the lunch session breaching below the 24000 zone and closed near the 23900 level with bias and sentiment once again turning into a very cautious mode with the geo-political tensions once again triggered amid the middle east.
Speaking on the outlook of the Nifty 50 today, Parekh said, “The index would have the important near-term support at 23800 zone failing which there can be intensified selling pressure with pessimism creeping in and having the next major support positioned near the 23000 zone.”
Meanwhile, on the Bank Nifty outlook, she added that the index after finding resistance near the 58500 zone, tanked heavily with a huge bearish candle visible on the daily chart moving below the important 200 period MA at 57200 zone with bias weakening and sentiment once again precariously.
“The index would have the near-term support at 56400 level which needs to be sustained, failing which the trend would turn slightly weak and can expect for further slide having the major and crucial support near 53500 level for the coming days.
The support for the day is seen at 23700 levels, while the resistance is seen at 24200 levels. Bank Nifty would have the daily range of 55500-57400 levels,” said Parekh.
Vaishali Parekh’s stock recommendations for today
Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: Multi Commodity Exchange Of India, Moschip Technologies, and Pondy Oxides and Chemicals.
1] Multi Commodity Exchange Of India: Buy at ₹2690, Target ₹2800, Stop Loss ₹2640;
2] Moschip Technologies: Buy at ₹227, Target ₹245, Stop Loss ₹220; and
3] Pondy Oxides and Chemicals: Buy at ₹1450, Target ₹1520, Stop Loss ₹1420.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
