Market Trading Guide: BSE, Muthoot Finance are among 8 stock recommendations for Thursday

Indian frontline indices closed slightly lower on Wednesday, as gains in heavyweight financial and oil & gas stocks were neutralised by declines in consumer stocks. The benchmark BSE Sensex lost 312.53 points or 0.40% to close at 78,271.28, while the broader Nifty 50 index closed at 23,696.30, lower by 42.95 points or 0.18%. The subdued trade was also on account of a cautious approach from investors ahead of the Reserve Bank of India's (RBI) outcome on Friday. Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that the Nifty remained mostly sideways during the session before closing slightly lower. "On the lower end, the fall was limited to around 23,700, while the upside was capped at approximately 23,800. However, in the short term, the trend continues to favor the bulls as the index remains above the critical moving average, supporting a bullish outlook. On the higher end, the index may continue to move towards 24,050 in the near term. Meanwhile, support is placed at 23,500, where maximum put writing is visible," De said.Here are 8 stock recommendations for Thursday: Stock Ideas