Stock market news: Equity benchmark indices Sensex and Nifty 50 concluded higher on Monday, marking their fourth consecutive day of gains, propelled by investments in blue-chip Reliance Industries and ongoing inflows from foreign funds.
A significant rally in global markets further fueled optimism among investors.
The Sensex rose by 411.18 points, or 0.49%, closing at 84,363.37. At one point during the day, it surged by 704.37 points, or 0.83%, reaching 84,656.56. The Nifty 50 increased by 133.30 points, or 0.52%, to settle at 25,843.15.
Market analysts noted that this shortened trading week will feature a range of events, with several important factors poised to draw investors’ attention.
On October 21, the one-hour Diwali Special Muhurat Trading session, which signifies the start of Samvat 2082, will be closely monitored for sentiment indicators and festive optimism, with expectations of strong participation from both retail and institutional investors.
Trade Setup for Tuesday
As reported by Axis Direct, during Samvat 2080, the Nifty 50 and Sensex reached all-time highs of 26,277 and 85,978, respectively. Nevertheless, both indices experienced a decline of over 15% in Samvat 2081, presenting appealing entry points for long-term investors.
The Nifty 50 and Sensex hit lows of 21,743 and 71,425; however, the markets have since bounced back and consolidated, paving the way for the next upward movement. Samvat 2081 represented a period of consolidation and underperformance compared to global counterparts.
In Samvat 2082, the technical outlook appears more robust, with the Nifty 50 showing potential upside between 26,300 and 27,000, and significant support levels at 24,500–24,000. Additionally, a recovery in Midcap and Smallcap stocks is anticipated, supporting a stock-specific accumulation approach.
Samvat 2082
As we approach Samvat 2082, India’s macroeconomic environment continues to be robust, bolstered by pro-growth fiscal policies and monetary actions alongside GST 2.0 reforms.
The valuation premium has adjusted to more typical levels, creating a more attractive entry point. With earnings recovery anticipated from Q3FY26 and double-digit growth expected in FY27, the market seems positioned for improved performance in the future, according to Axis Direct.
Stocks to buy today
Regarding stocks to buy today, market experts— Anshul Jain, Head of Research at Lakshmishree Investment, Anuj Gupta, Director at Ya Wealth, and Sugandha Sachdeva, Founder of SS WealthStreet recommended these eight intraday stocks for today: Shriram Finance Ltd, Cholamandalam Investment and Finance Company Ltd, Adani Ports and Special Economic Zone Ltd, Reliance Industries Ltd (RIL), Tata Motors Ltd, State Bank of India (SBI), PNB Housing Finance Ltd, and Samvardhana Motherson International Ltd.
Anshul Jain’s stock picks
1] Shriram Finance: Buy Shriram Finance shares at ₹675, Target ₹714, Stop Loss ₹640;
2] Cholamandalam Finance: Buy Cholamandalam Finance shares at ₹1,654, Target ₹1,850, Stop Loss ₹1,600; and
3] Adani Ports: Buy Adani Ports shares at ₹1,479, Targets ₹1,606, ₹2,000, Stop Loss ₹1,400.
Anuj Gupta’s stock picks
4] Reliance Industries: Buy RIL shares around ₹1420 to ₹1430, Targets ₹1520, ₹1560, Stop Loss ₹1360;
5] Tata Motors: Buy Tata Motors shares at ₹360 to ₹370, Targets ₹450, ₹480, Stop Loss ₹320; and
6] SBI: Buy SBI shares at ₹860 to ₹870, Targets ₹980, ₹1020, Stop Loss ₹810.
Sugandha Sachdeva’s stock picks
7] PNB Housing Finance: Buy PNB Housing shares at ₹865 to ₹867 range, Target ₹920, Stop Loss Rs830; and
8] Samvardhana Motherson International: Buy Samvardhana shares at ₹105, Target ₹112, Stop Loss ₹101.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
