Domestic Indices Snap Losing Streak as Key Stocks Rise

Domestic benchmark indices ended a four-session losing streak on Monday, driven by post-earnings gains in key stocks like Dr Reddy's Laboratories, JSW Steel and Kotak Mahindra Bank. The Nifty 50 rose 0.68% to close at 22,753.20, while the Sensex gained 0.66% to 73,606.75 after both fell about 0.9% earlier in the session.

Market Pressures

Gains remained limited as Brent crude futures traded near $115 a barrel, adding to inflation worries. Investors also waited for the US Federal Reserve policy decision on Wednesday, where the central bank was widely expected to keep interest rates unchanged.

Stock Picks

Chandan Taparia, Head of Derivatives and Technicals at Motilal Oswal Financial Services, recommended buying Laurus Labs with a target price of ₹2,180 and a stop-loss of ₹1,990. He also suggested MCX with a target of ₹3,300 and a stop-loss of ₹3,020, along with Coforge carrying a target price of ₹2,120 and a stop-loss of ₹1,930.

Context

Stock market indices often fluctuate based on global oil prices and upcoming decisions from major central banks like the US Federal Reserve. Analysts use technical indicators such as moving averages and open interest data to suggest trading ranges and stock picks for investors.