Stock market news: Indian equities declined for the third consecutive session on Thursday, 21 October as escalating conflict in the Middle East drove oil prices up to $112 a barrel, fuelling inflation concerns for the world's third-largest crude oil importer.
The Nifty 50 fell 0.54% to 22,687.65, while the Sensex dropped 0.62% to 73,249.39. Broader markets also came under pressure, with the small-cap and mid-cap indices declining 1.1% and 0.9%, respectively.
Market expert Chandan Taparia has recommended two stocks to buy tomorrow — Federal Bank and Indian Hotels Company — with defined target prices and stop-loss levels.
Taparia has recommended buying Indian Hotels Company with a target price of ₹830 and a stop loss of ₹760. For Federal Bank, he has set a target price of ₹368 and a stop loss of ₹336.
On the Nifty options front, Chandan Taparia, Head Derivatives & Technicals, Wealth Management, Motilal Oswal Financial Services Ltd, said the maximum Call OI is at the 23,000 and 23,200 strikes, while the maximum Put OI is at the 22,600 and 22,500 strikes.