A morning walk down Dalal Street: Market to take cues from earnings

What a turnaround for Indian markets on Monday. Benchmark indices managed to recoup losses and closed with gains of over 100 points on the Sensex while for Nifty it was about 40 points.

Fall in crude oil prices helped Nifty regain more than 100 points from the lows. Monday was the first instance where the index managed to close in green for two consecutive days for the first time in the last one month.

A falling rupee helped IT and pharmaceutical stocks outperform the index.

Most technical experts were suggesting of a pullback rally. In case you are going long on the index, the ideal stop loss should be placed below 10,300-10390 levels.

For September, both retail and wholesale inflation have risen in comparison to the previous month.

Consumer price inflation (CPI) marginally increased to 3.77 percent in September, against 3.69 percent in August. Wholesale price inflation (WPI) on the other hand, surged to 5.13 percent in September. It was 4.5 percent in August.

Falling rupee is something which we have to keep an eye on because of fluctuation in crude oil prices

India's industrial production grew 4.3 percent in August, as against 6.6 percent in July, data released by the Central Statistics Office showed.