Sensex, Nifty fall for second straight session on weak global trends

The Indian equity market indices remained under pressure for the second consecutive session on Thursday, tracking weak global cues amid Middle-East crisis and fresh foreign fund outflows. Disappointing earnings from IT services company Wipro also dragged the benchmarks lower.At close, the Sensex was down 247.78 points or 0.38 percent at 65,629.24, and the Nifty was down 46.40 points or 0.24 percent at 19,624.70
Stocks and Sectors
Bajaj Auto, LTIMindtree, Nestle India, Hero MotoCorp and UltraTech Cement were the top gainers on the Nifty,while losers included Wipro, Tech Mahindra, UPL, Bharti Airtel and Hindalco Industries.
On the sectoral front, bank, metal, power, realty, oil & gas and pharma were down 0.3-0.9 percent, while the auto index was up 0.5 percent. The BSE Midcap and Smallcap indices ended on a flat note.
On 19 Oct'23,the Indian rupee traded in a narrow range and appreciated 3 paise to 83.25 against the US dollar on Thursday, tracking softening crude prices in the international markets amid lingering geopolitical uncertainties.
However, foreign fund outflows, a weak greenback overseas and a negative trend in domestic equities weighed on investor sentiment, forex traders said.
Experts Take:
Market experts have recommended six stocks to buy for Thursday- Cipla, Tata Motors, Godfrey Phillips, Quess Corp, Radhika Jeweltech, and Vimta Labs.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)