The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday, 18 August, amid mixed global cues.
The Gift Nifty also pointed to a weak start for domestic equities. It was trading around 24,310.5, indicating an 82.2-point discount to the previous close of Nifty futures.
Indian equity benchmarks ended lower in the previous session, with the Nifty 50 closing below the 24,300 mark. The Sensex declined 281.09 points, or 0.36%, to 77,728.16, while the Nifty 50 fell 78.35 points, or 0.32%, to settle at 24,287.65.
Crude Oil Prices
Oil prices rose on Tuesday as hopes of a deal to end the US-Iran conflict weakened, with Iran signalling a more aggressive military stance and the US ruling out an extension of the ceasefire. The developments heightened concerns over potential disruptions to global energy supplies.
Brent crude futures gained 27 cents, or 0.3%, to $91.14 a barrel, after hitting their highest level since July 30 in the previous session. US West Texas Intermediate (WTI) crude rose 42 cents to $85.04 a barrel, after earlier touching $85.37, its highest level since July 31.
US-Iran War
Iran is preparing to adopt a “fully offensive” military posture as negotiations with the US over a lasting end to the conflict have stalled, a senior Iranian official was quoted as saying by Reuters. The comments came after Washington ruled out extending the temporary ceasefire.
Progress on peace talks and the resumption of oil tanker traffic through the Strait of Hormuz has also stalled, raising concerns that the conflict, which began with US and Israeli strikes on Iran on February 28, could persist for longer.
Meanwhile, Iran and Oman have been negotiating an arrangement to manage the Strait of Hormuz, with Tehran saying the two sides are close to an agreement. However, US President Donald Trump has threatened military action against Oman, a longstanding US security partner.
Despite the escalating tensions, there were signs that diplomacy could remain possible, with media reports suggesting that Trump had initiated back-channel discussions with Iran’s Islamic Revolutionary Guard Corps.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a muted start for the Indian stock market today. By 8:09 AM, the Gift Nifty was trading around the 24,300.5 level, a discount of 92.2 points from the Nifty futures’ previous close of 24,392.70
Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to trade with a cautious bias as renewed strength in crude oil prices and persistent geopolitical uncertainty continue to weigh on investor sentiment. With no meaningful progress in resolving the U.S.–Iran conflict and U.S. President Donald Trump ruling out an extension of the 60-day temporary ceasefire arrangement, concerns over energy supplies remain firmly in focus. WTI crude is trading around the $84-per-barrel mark, keeping inflationary pressures and energy-related risks at the forefront for oil-importing economies such as India.
Global cues remain mixed. Wall Street ended lower overnight, while Asian markets are trading on a divergent note. Japan’s Nikkei 225 is down around 0.4% in early trade, whereas South Korea’s Kospi has rallied more than 3%, supported by strong gains in semiconductor and electronics stocks. Against this backdrop, GIFT Nifty futures are trading near the 24,300 mark, suggesting a largely flat opening for domestic equities, compared with the Nifty’s previous close of 24,287.
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 came close to testing its crucial medium-term moving-average support, with the 100 DEMA placed around 24,200, with weakness in key sectors such as banking and IT weighing on the index. A decisive break below this level could trigger fresh selling pressure towards 24,000, followed by 23,800. On the upside, the 24,400–24,600 zone remains a critical hurdle for any meaningful recovery.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty is expected to remain range-bound with a relatively stable undertone, provided it sustains above the 57,100–57,200 support region. The 57,800–58,000 zone remains the immediate resistance band, and a sustained breakout above 58,000 could strengthen buying momentum and open the way towards 58,300–58,500.
On the downside, 57,200–57,100 remains the immediate support area, followed by the 57,000 zone. Holding above these levels would help preserve the recovery structure, while a decisive break below 57,000 could weaken the near-term bias and invite fresh selling pressure. Overall, the near-term outlook remains cautiously positive to range-bound.
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: Radico Khaitan Ltd, Ajanta Pharma Ltd, L&T Finance Ltd, Aditya Birla Capital Ltd, ICICI Bank Ltd, TVS Motor Company Ltd, Thermax Ltd, and Siemens Energy India Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Radico Khaitan in cash at ₹4,693; SL at ₹4,530; TGT at ₹5,020
Buy Ajanta Pharma in cash at ₹3,718; SL at ₹3,590; TGT at ₹3,980
Ganesh Dongre’s buy or sell stocks
Buy L&T Finance at ₹344; SL at ₹308; TGT at ₹324
Buy Aditya Birla Capital at ₹398; SL at ₹390; TGT at ₹425
Buy ICICI Bank at ₹1,420; SL at ₹1,400; TGT at ₹1,460
Shiju Koothupalakkal’s intraday stocks for today
Buy TVS Motor Company cmp: ₹4,385; Target: ₹4,560; Stop loss: ₹4,300
Buy Thermax cmp: ₹4,141; Target: ₹4,380; Stop loss: ₹4,070
Buy Siemens Energy India cmp: ₹3,605; Target: ₹3,800; Stop loss: ₹3,530
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.
