New Delhi, May 13 -- Stocks to buy for the short term: A day after surging nearly 4 per cent, boosted by the ceasefire between India and Pakistan and the US-China trade deal, the Indian stock market benchmark Nifty 50 index fell 1 per cent in morning trade on Tuesday, May 13, due to profit booking.

Experts pointed out that the rally on Monday could be due to short-covering, as indicated by the trends of FII and DII buying.

VK Vijayakumar, Chief Investment Strategist at Geojit Investments, pointed out that a sharp 916-point surge in Nifty on Monday was not caused by institutional activity.

"The combined FII and DII buying yesterday was only Rs.2,694 crore. This means the market surge was triggered by short-covering and HNI plus retail b...