Stock market today: Indian equity benchmarks closed lower on Wednesday, 14 October, as rising oil prices and sustained foreign investor outflows dampened sentiment following the previous session’s rally. Investors also assessed corporate earnings and awaited key US inflation data.
The Nifty 50 fell 0.44% to close at 22,622.70, while the Sensex declined 0.34% to 72,781.89. Eight of the 16 major sectors ended in the red, while the broader market also weakened, with small-cap and mid-cap indices falling 0.3% and 0.1%, respectively.
The decline followed a strong rebound on Tuesday, when the Nifty and Sensex gained around 1.6% each, led by IT stocks after HCLTech reported quarterly profit that exceeded expectations.
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, has recommended buying Sagility at ₹45.60, with a target price of ₹49.50 and a stop-loss at ₹43.50. The trade has a timeframe of two to three weeks.
He has also recommended buying Rain Industries at ₹236, with a target of ₹255 and a stop-loss at ₹223, for a similar investment horizon of two to three weeks.