Indian Stock Market Ends Week in Red Amid Rising Oil Prices

The Indian stock market experienced a weak and volatile trading week, marked by losses in benchmark indices due to rising crude oil prices and geopolitical tensions. Banking stocks were particularly affected after mixed Q1 FY27 earnings, while a risk-off mood and weakness in the rupee limited buying interest.

Despite resilient domestic macroeconomic indicators and stock-specific opportunities emerging from the ongoing earnings season, elevated oil prices and global uncertainties overshadowed positive triggers. As a result, the Sensex fell 2.68% to end at 76,059.77, while the Nifty declined 2.33% to close at 23,767.45.

Sumeet Bagadia, Executive Director at Choice Broking, notes that the Nifty formed a bullish recovery candle with a long lower shadow, indicating strong buying interest near lower levels after an early decline. He adds that the index successfully defended a crucial support area despite prevailing cautious sentiment and continues to trade below its key moving averages.

Bagadia recommends three stocks to buy on Monday: Confidence Petroleum India, Filatex India, and Ujjivan Small Finance Bank. He suggests buying Confidence Petroleum India at ₹78.3 with a target price of ₹84.5 and stop loss at ₹74; Filatex India at ₹73.83 with a target price of ₹80 and stop loss at ₹70; and Ujjivan Small Finance Bank at ₹70.72 with a target price of ₹75.5 and stop loss at ₹67.