Stock market today: The US stock market closed sharply lower overnight, with the S&P 500 slipping nearly 2% and the Nasdaq plunging close to 2.5%, marking the worst single-day fall since October. The global sell-off was triggered by renewed trade-war concerns after President Trump escalated tariff threats on select European nations opposing US control over Greenland, with proposed duties rising from 10% in February to 25% by June. This sudden escalation rattled risk sentiment across asset classes, leading to heavy unwinding in equities, a spike in US Treasury yields with clear bear-steepening across the curve, and a strong rush toward safe-haven assets. Gold surged to fresh lifetime highs above $4,777 per ounce, while technology and growth stocks led the decline amid rising geopolitical uncertainty.
The Indian stock market is likely to open on a weak note amid this broad global risk-off environment and follow-through pressure from yesterday’s sharp domestic decline. Renewed U.S. tariff threats, coupled with persistent selling by foreign investors, continue to weigh heavily on market sentiment. The rupee remains vulnerable, keeping import-cost risks elevated, while Q3 earnings have so far been mixed to weak across several heavyweights, particularly in IT, Auto, Realty and select Financials. Ahead of the Union Budget on February 1, expectations of a capex push in railways, defence and consumption support remain constructive, but these positives are not yet strong enough to counter the prevailing global uncertainty. Short-term technical bounces may emerge if DII inflows absorb supply or if FII selling eases, but investor confidence in the sustainability of such moves remains low in the current environment.
Stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment has turned weak after sharp selling on Tuesday. The Choice Broking expert said the Nifty 50 index has breached the crucial support placed at the 25,550 to 25,500 band, and the 50-stock index finished close to its 200-DEMA support placed at 25,100.
Speaking on the outlook of the Indian stock market today, Sumeet Bagadia said, “The Indian stock market bias has turned weak as the Nifty 50 index crashed below the crucial support placed at the 25,550 to 25,500 band. The strong base for the key benchmark index has now shifted to 25,100 — 200-DEMA. For improvement in the Indian stock market bias, the Nifty 50 index needs to close above 25,550. So, one should maintain a stock-specific approach and focus on those stocks that look strong on the technical chart. Looking at breakout stocks can be a good option.”
Stocks to buy or sell
Regarding stocks to buy today, Sumeet Bagadia recommended buying these five breakout stocks: Jindal SAW, Deepak Nitrite, GPPL, JK Lakshmi Cement, and Dalmia Bharat.
1] Jindal SAW: Buy at ₹186, Target ₹199, Stop Loss ₹178.
Jindal SAW share price is showing early signs of a trend reversal after a prolonged decline. The stock has formed a strong bullish candle on the daily chart and reclaimed the 20 EMA and 50 EMA, indicating improving short-term momentum.
2] Deepak Nitrite: Buy at ₹1606, Target ₹1720, Stop Loss ₹1545.
Deepak Nitrite share price has witnessed a sharp pullback followed by a strong bounce from the ₹1,520 to ₹1,550 demand zone. The price has reclaimed the 20 EMA and is attempting to stabilise above the 50 EMA, signalling a potential short-term trend reversal.
3] GPPL: Buy at ₹177.90, Target ₹190, Stop Loss ₹171.
GPPL’s share price is trading near a key support zone and has shown resilience with a bullish recovery candle on the daily chart. The stock is holding above the 100- and 200-EMA, indicating a strong underlying base. Short-term momentum is improving as the price attempts to reclaim the 20 EMA.
4] JK Lakshmi Cement: Buy at ₹793, Target ₹850, Stop Loss ₹766.
JK Lakshmi Cement share price has bounced from the ₹760 to ₹770 demand zone after a corrective phase, indicating strong buying interest at lower levels. The price has moved above the 20 EMA and is attempting to cross the 50 EMA, signalling improving short-term momentum.
5] Dalmia Bharat: Buy at ₹2191, Target ₹2350, Stop Loss ₹2111.
Dalmia Bharat’s share price has formed a higher low on the daily chart after testing long-term support near 2,000. The stock has reclaimed the 20- and 50-EMA levels, indicating a shift in short-term momentum.
Disclaimer: This story is for educational purposes only. 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.
