Stock market today: Indian equities ended lower on Monday, 12 October, with the Nifty 50 and Sensex retreating as investors weighed the Reserve Bank of India’s efforts to stabilise the rupee against persistent concerns over high crude oil prices and the prospect of a weaker monsoon.
The Nifty 50 declined 0.7% to close at 22,363.35, while the Sensex shed 0.76% to settle at 71,924.68.
The decline followed Friday’s recovery, when both indices broke a 25-year record losing streak and rebounded from multi-year lows. However, the relief rally failed to sustain momentum, with early gains giving way to selling pressure on Monday.
Market participants are now turning their attention to India’s upcoming inflation data for fresh signals on the monetary policy trajectory, particularly after the RBI raised interest rates last week.
Chandan Taparia has recommended buying PNB Housing Finance and TVS Motor Company for tomorrow, citing bullish technical indicators, improving price structures and positive momentum. He has set a target price of ₹1,280 for PNB Housing Finance, with a stop-loss of ₹1,160, and a target of ₹4,150 for TVS Motor Company, with a stop-loss of ₹3,820.