New Delhi, March 3 -- Indian stock market benchmark Nifty 50 is down about 16 per cent from its peak of 26,277, which it hit on September 27, due to massive capital outflow, economic growth losing steam and the rupee falling to record lows against the US dollar.

On Monday, March 3, the Nifty 50 declined almost half a per cent in morning trade to inch closer to its key support of 22,000.

Experts expect the index to find support around that level. However, a fall below this level could trigger a fresh wave of sharp selloff.

Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, recommends buying shares of Axis Bank and Hindalco for the next two to three weeks. He recommends accumulating the shares of L&...