Stock Market Outlook on 27 October: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) were closed on Wednesday (October 26) on the occasion of 'Diwali Balipratipada' and the market will open on Thursday (October 27). 

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Earlier on Tuesday (October 25) Equity benchmarks nursed losses as investors booked profits after a seven-session rally amid weak Asian market cues and foreign fund outflows. 

The 30-share BSE Sensex failed to hold on the early gains and declined 287.70 points or 0.48 per cent to finish at 59,543.96. During the day, it hit a low of 59,489.02 and a high of 60,081.24. On similar lines, the broader NSE Nifty fell 74.40 points or 0.42 per cent to end at 17,656.35. 

Nestle India was the top loser in the Sensex pack, slipping 2.83 per cent, followed by Hindustan Unilever, Bajaj Finserv, Kotak Mahindra Bank, HDFC, Reliance Industries, Bajaj Finance and Asian Paints. Market heavyweight Reliance Industries was the biggest drag on the benchmark following lacklustre Q2 results. In contrast, Tech Mahindra, Maruti, Larsen & Toubro, Dr Reddy's, SBI, NTPC and M&M were among the winners, climbing as much as 3.29 per cent. 

Things to know before markets reopen on Thursday:

1. Market Expert Vikas Sethi said that the market showed good cues on Tuesday (October 25). He said that Indian markets have shown good resilience against the international markets and he hopes that the same trend on Thursday (October 27). "Due to truncated week, investors might have depreciated their positions. If the market is down, investors should buy quality stocks," he added.

2. Sethi recommended Sansera Engineering company as a positional term pick. It was trading at Rs 726 apiece on NSE at 8.30 pm on Wednesday. Sethi put target price at Rs 775 with a stop loss of Rs 700. Sansera was incorporated in 1981 in Bengaluru and commenced commercial production of passenger vehicle components in 1986. In April 2017, the company acquired a 100% stake in Sansera Sweden, which has facilitated its entry into the heavy commercial vehicle vertical in the automotive sector, expanded its customer base and improved geographical access to OEMs outside India. As his long-term pick, Vikas Sethi suggested IIFL Finance. The target price is Rs 450. He has a 12 months view on this stock. 

3. Sethi recommended KNR cons for intraday pick on Thursday (October 26). 

4. Anil Singhvi trading strategy: Indian markets will take cues from the closing on Tuesday and Dow Futures on Thursday morning. 

5. Nifty has support at 17525-17575. Bank Nifty has support at 40650-40800 while resistance is seen at 40625-40700.    

The rupee appreciated 7 paise to close at 82.81 (provisional) against the US dollar on Tuesday, as easing crude oil prices buoyed investor sentiments. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 153.89 crore on Monday, as per exchange data.

In a special one-hour Muhurat trading session on Monday to mark the beginning of Hindu Samvat year 2079, the BSE benchmark jumped 524.51 points or 0.88 per cent to end at 59,831.66. The Nifty advanced 154.45 points, or 0.88 per cent, to finish at 17,730.75.