Stock Market Outlook: Market benchmarks Sensex and Nifty finished higher on Thursday, propped up by robust buying in metal, realty and energy stocks amid a mixed trend in global equities. A strengthening rupee further bolstered sentiment, even as relentless foreign capital outflows restricted the gains, traders said. 

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The 30-share BSE benchmark climbed 212.88 points or 0.36 per cent to settle at 59,756.84. During the day, it jumped 415.98 points or 0.69 per cent to 59,959.94. On similar lines, the broader NSE Nifty advanced 80.60 points or 0.46 per cent to end at 17,736.95.

Things to know before markets reopen on Thursday: 

1. Market expert Shrikant Chauhan from Kotak Securities said that the Indian market trend is very strong because of the weakness in the dollar index. If the trend continues, it will be positive for our market.

2. Chauhan recommended Tech Mahindra as stock in focus and positional long-term pick. At 8:30 pm on Thursday (October 27), Tech Mahindra share was trading at Rs 1,075.90 down by 0.61 per cent. Chauhan specified target price of Rs 1,250 with a stop loss at Rs 1030. Tech Mahindra is an Indian multinational IT services and consulting firm. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai. Tech Mahindra is a US$6.0 billion company with over 158,000 employees across 90 countries.

3. Anil Singhvi trading strategy for October 28: Nifty has support at 17575-17650. Bank Nifty has support at 41,025-41,125 while resistance is seen at 41425-41525.   

4. Zee Business Managing Editor Anil Singhvi said global markets will guide the Indian markets in the coming week. There is hardly any trend in the market which could disturb the Indian market trend.

Earlier today, Tata Steel was the biggest gainer in the Sensex pack, rising 3.02 per cent, followed by Power Grid, Sun Pharma, Bharti Airtel, Titan, Axis Bank, Dr Reddy's and NTPC. On the other hand, Bajaj Finance, Bajaj Finserv, Asian Paints, Tech Mahindra and Nestle were among the laggards. 

Realty, oil & gas, metals and power indices rose the most, while the IT index was the biggest loser. Broad markets indices mildly underperformed the Nifty even as the advance-decline ratio was positive at 1.23:1, Deepak Jasani, Head of Retail Research, HDFC Securities, said. 

In the broader market, the BSE midcap gauge ended 0.44 per cent higher and smallcap index climbed 0.41 per cent. Among BSE sectoral indices, metal rallied 3.02 per cent, followed by realty (2.95 per cent), utilities (1.85 per cent), power (1.84 per cent), commodities (1.37 per cent), energy (1.14 per cent), oil & gas (1.39 per cent) and energy (1.14 per cent). IT and tech were the only laggards. Meanwhile, the rupee appreciated 34 paise to close at 82.47 (provisional) against the US dollar on Thursday.