Stock market updates on October 30, 2023: Frontline indices recovered early losses and moved higher on Monday supported by index heavyweight Reliance Industries, HDFC Bank, ICICI Bank and Bharti Airtel.  The BSE Sensex was up 200 points at 64,014. The NSE Nifty50 held the 19,100 level.  Speaking at the BFSI Summit, Christopher Wood, global head of equity strategy at Jefferies said investors should use the weakness that may arise due to an unfavourable election result ahead to build positions. “If markets correct 25-30 per cent due to current government not winning with a majority, you should buy the market,” he said.  Wood added that Indian equities remain the best story among emerging markets, though he flagged expensive valuations in the MidCap universe. 

The broader indices – BSE MidCap and SmallCap wiped out intra-day losses, and were hovering around the dotted line.