The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Thursday, 13 August, amid mixed global cues and continued concerns over elevated crude oil prices.
The Gift Nifty also pointed to a weak start for the domestic market. It was trading around 24,446.5, indicating a 24-point premium over the previous close of Nifty futures.
On Wednesday, Indian equities ended in negative territory, with the Nifty 50 closing below the 24,500 mark. The Sensex declined 187.90 points, or 0.24%, to 77,966.35, while the Nifty 50 fell 35.75 points, or 0.15%, to settle at 24,435.95.
Crude oil prices
Crude oil prices declined by more than $1 on Thursday as analysts lowered their forecasts for global oil demand in 2026, citing disruptions arising from the ongoing US-Israeli conflict with Iran. However, concerns over potential supply disruptions continued to limit the decline.
Brent crude futures fell $1.29, or 1.5%, to $87.69 a barrel, while US West Texas Intermediate (WTI) crude futures declined $1.30, or 1.6%, to $81.97 a barrel.
Oil prices also came under pressure after US commercial crude inventories unexpectedly surged last week, recording their biggest weekly increase since January 2023, according to the Energy Information Administration (EIA). The build-up was partly driven by a sharp decline in US crude exports.
US-Iran war
Uncertainty continued over the reopening of the Strait of Hormuz, with little sign of progress in negotiations. US President Donald Trump said Washington has “total control” over the strategically important waterway.
US-Iran talks appeared to remain deadlocked as both sides maintained their hardline positions. Washington continues to enforce a blockade of Iranian ports to increase economic pressure on Tehran, while Pakistan, which has been facilitating mediation efforts, said the broader peace process had stalled. However, the deadline for a US-Iran memorandum of understanding could still be extended.
Meanwhile, the conflict in the Middle East, alongside the ongoing Russia-Ukraine war and repeated attacks on energy infrastructure, including ports and refineries, has tightened global crude and refined-product markets, keeping supply risks elevated despite the recent decline in oil prices.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a weak start for the Indian stock market today. By 7:45 AM, the Gift Nifty was trading around the 24,437 level, a discount of 33.5 points from the Nifty futures’ previous close of 24,470.50.
Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to open on a cautious note, with GIFT Nifty futures hovering just above the 24,400 mark, compared with the Nifty’s previous close of 24,435, suggesting a muted start despite a rebound across global markets. Elevated crude oil prices, driven by the continuing U.S.-Iran standoff over the Strait of Hormuz, remain the primary overhang for domestic equities and are likely to keep investor sentiment measured.
Global risk appetite improved after softer-than-expected U.S. inflation data reinforced expectations that the Federal Reserve is likely to keep interest rates unchanged at its September meeting. Sentiment received an additional boost from another round of strong earnings from AI infrastructure companies, sparking broad-based gains in technology stocks. Reflecting the improved backdrop, Japan’s Nikkei 225 is trading more than 1% higher, while South Korea’s Kospi has advanced over 3%, providing supportive regional cues for Indian markets.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, Senior Vice President, Research at Religare Broking, said the Nifty 50 staged a smart recovery after briefly breaching the crucial 24,350 support level, which coincides with the moving-average ribbon. Going ahead, sustainability above this zone will be critical to maintain the prevailing positive bias. Failure to hold above this level could lead to renewed consolidation, with the 24,000–24,200 zone emerging as the next major support.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty remains comparatively stronger and is likely to outperform Nifty if banking-sector buying continues. The 58,000 zone remains the immediate resistance, while a sustained breakout above 58,300 would strengthen the bullish momentum and could pave the way for an advance towards the 58,500–59,000 region.
On the downside, 57,500 remains the immediate support, followed by the 57,200–57,000 zone. Sustaining above 57,400 will be important to preserve the prevailing recovery structure, while a decisive break below this level could weaken the near-term bias and invite profit booking.
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, and Senior Manager — Technical Research at Anand Rathi, recommended these eight buy-or-sell stocks for intraday trading: Hindustan Aeronautics Ltd (HAL), Aditya Infotech, Kaynes Technology India, Coal India, Piramal Finance, Bharat Heavy Electricals Ltd (BHEL), Thermax, and Union Bank of India.
Sumeet Bagadia’s stock recommendations today
Buy Hindustan Aeronautics in cash at ₹4,995; SL at ₹4,810; TGT at ₹5,350
Buy Aditya Infotech in cash at ₹3,899; SL at ₹3,730; TGT at ₹4,200
Ganesh Dongre’s buy or sell stocks
Buy Kaynes at ₹3,830; sl at ₹3,750; tgt at ₹4,050
Buy Coal India at ₹410; sl at ₹400; tgt at ₹435
Buy Piramal Finance at ₹2,075; sl at ₹2,030; tgt at ₹2,200
Shiju Koothupalakkal’s intraday stocks for today
Buy BHEL cmp: ₹420; Target: ₹442; Stop loss: ₹410
Buy Thermax cmp: ₹4,083; Target: ₹4,270; Stop loss: ₹4,000
Buy Union Bank of India cmp: ₹187; Target: ₹198; Stop loss: ₹183
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
