India’s main stock indexes climbed Oct. 29 after six declines in the prior seven sessions, while a Livemint report outlined three stock recommendations for the next trading day.
At the close, the Nifty 50 stood at 22,936.75, up 237.90 points, or 1.05%. The BSE Sensex finished at 74,151.04 after adding 905.01 points, a 1.24% gain. Across the seven sessions through Oct. 28, the Nifty had shed about 1.9% and the Sensex about 2%; each index was lower on six of those days. Both indexes rose on Oct. 26, so the declines were not consecutive.
The Federal Open Market Committee (FOMC) voted 10-2 on Oct. 28 to keep the federal funds target range at 3.75% to 4%, the Federal Reserve said. Lisa D. Cook and Beth M. Hammack dissented in favor of a quarter-point increase.
Livemint reported that Chandan Taparia, whom it identifies as Motilal Oswal Financial Services' head of derivatives and technicals, recommended three stocks for Oct. 30. The outlet listed a ₹485 target and ₹445 stop-loss for Kotak Mahindra Bank; FSN E-Commerce Ventures Limited (Nykaa) was assigned ₹373 and ₹340. Eternal Limited came with a ₹357 target and a ₹326 stop-loss. The figures are Indian rupees per share.
Livemint linked the Kotak call to a pole-and-flag formation. It described Nykaa's rationale as shares moving beyond a range held for 40 sessions and cited an inside-bar pattern for Eternal.
The Federal Reserve calendar lists Dec. 8-9 as the next FOMC meeting.
