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Blue-chip indices Sensex and Nifty50 opened lower for the fifth straight session, dragged down by weak global cues and declining financial stocks.

In early trading on Friday, the Indian rupee steadied at 83.96 against the US dollar, bolstered by falling crude oil prices and a weaker dollar against major Asian currencies. However, subdued domestic equity markets and significant foreign fund outflows hindered its recovery. The local stock indices saw minimal movement, while FIIs continued their selling spree amid positive Chinese market developments.

Indian market may consolidate on Friday influenced by mixed global cues. Nifty futures closed at 25,478 on Thursday with a loss of 1.89%. Experts recommend short-term buys in stocks like Dalmia Bharat, Angel One, Granules India, Cipla, TCS, Jubilant Pharmova, HDFC Bank, and Vijaya Diagnostic Centre with specified targets and stop losses.

Motilal Oswal Financial Services has sell call on Fine Organic Industries with a target price of Rs 4,095. The current market price of Fine Organic Industries is Rs 5,117.4.

The Nifty Pharma index was trading 0.3 per cent up at 23248.3.

Mahindra & Mahindra Financial Services expects a 1% year-on-year decline in overall disbursement to approximately Rs 13,160 crore for Q2FY25. Their H1FY25 disbursement is projected to grow by 2% YoY to Rs 25,900 crore. The company reported strong liquidity and projected growth in business assets, despite recent share performance being below Nifty.

Jupiter Wagons declares an interim dividend of Re 1 per share, with October 7 set as the record date. Payment will be made by October 17. Over the last year, the stock has nearly tripled, providing multibagger returns of 180% YTD and 102% over the past six months.

Sandip Sabharwal advises caution in investing amidst market corrections, suggesting potential buys in largecaps like Reliance if it drops 5-7%. He highlights concerns over economic data and urges waiting for a larger market dip. He also sees opportunities in mid and smallcaps, particularly in infra stocks like Ahluwalia Contracts and NCC.

Bajaj Finance shares will be watched closely on Friday due to a business update for Q2FY25. The company reported a 14% rise in new loans, a 29% increase in AUM, and a 21% growth in deposits. Net liquidity surplus stood at Rs 20,100 crore. The stock showed modest year-to-date gains.

he manager of the top-performing $23 billion GQG Partners Emerging Markets Equity Fund has kept his holdings in Chinese stocks at about 12% of the fund — roughly half of the weighting of its benchmark