Stock Market Outlook on November 4: Benchmark indices finished on a weak note on Thursday, extending their previous day's decline amid a negative trend in global equity markets after the US Fed hiked interest rates by 75 basis points.

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The 30-share BSE Sensex declined 69.68 points or 0.11% to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69% to 60,485.14. Similarly, the broader NSE Nifty dipped 30.15 points or 0.17% to end at 18,052.70. From the Sensex pack, Tech Mahindra, PowerGrid, NTPC, Infosys, Wipro, HDFC, Tata Consultancy Services and Mahindra & Mahindra were the major laggards.

State Bank of India, Titan, Bharti Airtel and Hindustan Unilever were among the winners.

Things to know before markets reopen on November 4 (Friday)

1) Market expert Shrikant Chauhan from Kotak Securities suggests buyers to invest in select stocks between 17,800-17,600 level. Eventually, we will see the markets trail to 17,500-18,500 level.

2) Chauhan recommended Dr Reddy's as stock in focus and positional long-term pick. He specified target price of 4,850 with a stop loss at 4,450. At 3:30 pm on Thursday (November 3), Dr Reddy's share was trading at Rs 4,594.00 apiece on NSE up by 0.84 per cent. Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company located in Hyderabad. The company was founded by Kallam Anji Reddy, who previously worked in the mentor institute Indian Drugs and Pharmaceuticals Limited.

3) Chauhan further recommended Reliance Industries Ltd for long term pick. He specified target price of 3,050 with a stop loss at 2,400. At 3:30 pm on Thursday (November 3), Reliance Industries Ltd's share was trading at Rs 2,552 apiece on NSE up by 0.25 per cent. Reliance Industries Limited is an Indian multinational conglomerate company, headquartered in Mumbai. It has diverse businesses including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles.

4) Strategy for November 4: Sumeet Bagadia from Choice Broking recommended SBI for tomorrow's option strategy. He specified target price of Rs 28/30 with a stop loss at 15.

5) Another stock that he recommended is Pidilite Industries Limited for tomorrow's option strategy. He specified target price of Rs 70/80 with a stop loss at 30.
Meanwhile, elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended lower. Stock exchanges in Europe were trading in the negative territory in mid-session deals.