Stock market news: The domestic benchmark indices, Sensex and Nifty 50, ended lower on Friday, snapping their three-session winning streak, as a sharp rise in retail inflation to 6.09% in October fuelled concerns over a possible RBI rate hike next month.
The 30-share BSE Sensex declined 318.56 points, or 0.39%, to close at 81,592.45. During the session, the index fell as much as 622.26 points, or 0.75%, to an intraday low of 81,288.75.
The Nifty 50 settled 155.05 points, or 0.61%, lower at 25,144.30.
Friday's decline marked the first significant fall in both benchmark indices this month.
Chandan Taparia, Head of Derivatives & Technicals, Wealth Management at Motilal Oswal Financial Services, has recommended buying three stocks — MCX, BSE and Bharti Airtel.
He has set a target price of ₹3,900 for MCX with a stop loss of ₹3,600. For BSE, the target is ₹4,170 with a stop loss of ₹3,820, while Bharti Airtel has a target of ₹2,230 and a stop loss of ₹2,040.
On the Nifty options front, Chandan Taparia, said the maximum call OI is at 25,200 then…