New Delhi, July 18 -- Shares to buy for the short term: The Indian stock market has been lacklustre over the last few sessions. The benchmark Nifty 50, after falling 0.40 per cent in the previous session, dropped almost 1 per cent to hit an intraday low of 24,931.40 during the session on Friday, July 18, looking set to extend losses to the third consecutive week.

Ajit Mishra, SVP of research at Religare Broking, pointed out that global uncertainty and a muted start to the Q1 earnings season are weighing on investor sentiment, even though sustained liquidity inflows are helping to cushion the downside.

"The current divergent trend, while the benchmark index is under pressure, is mainly due to weakness in heavyweight IT stocks. At the sam...