The Indian stock market is likely to open on a weaker note on Thursday, 27 August, with the Sensex and Nifty 50 expected to open lower amid mixed signals from global markets.
Early trends in the Gift Nifty also indicated a negative start. Gift Nifty was trading near 24,358.5, about 70 points below the previous close of the Nifty futures contract.
The domestic benchmark indices ended Wednesday’s session in the red, with the Nifty 50 slipping below the 24,250 mark.
The BSE Sensex declined 183.15 points, or 0.24%, to close at 77,472.94, while the Nifty 50 fell 126.80 points, or 0.52%, to settle at 24,207.75.
US-Iran war
Iran and Oman are reportedly close to finalising an agreement on the management and control of the Strait of Hormuz, according to a senior Iranian source cited on Wednesday. The development follows an earlier statement by Iran’s Revolutionary Guards that the two countries had reached an understanding on managing the strategic waterway and sharing related revenues.
Before the US-Israel war against Iran began on 28 February, the Strait of Hormuz was a key transit route for oil and natural gas shipments, accounting for nearly one-fifth of global consumption. However, after Iran moved to close the waterway in response to the conflict, energy flows through the strait dropped sharply to around one-fourth of their pre-war levels, according to ship-tracking data.
Crude oil prices
Crude oil prices extended their decline on Thursday as growing optimism over diplomatic efforts raised hopes of a possible reopening of the Strait of Hormuz and an easing of supply disruptions caused by the Middle East conflict.
Brent crude futures fell 60 cents, or 0.7%, to $87.24 per barrel, marking their fourth consecutive session of losses. West Texas Intermediate (WTI) crude declined 56 cents, or 0.7%, to $81.67 per barrel, extending its losing streak to five straight sessions.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a weak start for the Indian stock market today. By 7:56 AM, the Gift Nifty was trading around the 24,365.5 level, a discount of 64 points from the Nifty futures’ previous close of 24,429.10.
Ponmudi R, CEO of Enrich Money, said Indian equity markets are poised for a steady start as easing crude oil prices continue to improve the near-term macro backdrop for domestic equities. WTI crude remains in the $81–82 per barrel range after retreating from recent highs. Reflecting improved sentiment, GIFT Nifty futures are trading above the 24,300 mark in early trade, indicating a positive opening for domestic markets despite mixed global cues.
Global markets present a mixed picture. Wall Street ended lower after US inflation came in slightly above expectations, clouding the outlook for the Federal Reserve’s policy path. Asian markets, however, are showing mixed performance, with Japan’s Nikkei 225 trading marginally lower while South Korea’s Kospi is up nearly 1% in early trade. The Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation gauge, came in slightly above expectations, complicating the outlook for monetary policy and reinforcing expectations that policymakers are likely to remain cautious. Investor attention now turns to Fed Chair Kevin Warsh’s speech at the Jackson Hole symposium for further clarity on the interest-rate outlook.
On the corporate front, Nvidia lifted technology sentiment after delivering better-than-expected quarterly results and forecasting roughly 70% revenue growth for fiscal 2028, easing investor concerns about the sustainability of heavy AI-related capital spending.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, Senior Vice President, Research at Religare Broking, said we continue to maintain our consolidation view on the Nifty 50, with the 24,000–24,100 zone expected to provide immediate support, while the 24,400–24,500 region is likely to act as the key resistance band.
Despite the range-bound movement in the benchmark index, rotational buying and relative sectoral strength continue to offer ample stock-specific trading opportunities. We recommend maintaining a cautious stance on the index and focusing on relatively stronger sectors such as metal, auto, and select banking names for long positions, while adhering to disciplined risk management
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes the Bank Nifty continues to display comparatively stronger technical resilience, comfortably holding above all key EMAs, including the 20-, 50-, 100-, and 200-day EMAs. The 57,800–58,000 remains the crucial resistance band, where selling pressure remains visible. A sustained breakout above 58,000 would strengthen the recovery structure and could pave the way towards the 58,300–58,500 levels.
On the downside, 57,500–57,600 is likely to act as the immediate support zone, followed by the stronger 57,200–57,300 region. Holding above these levels will be important to preserve the prevailing recovery structure. However, a decisive break below 57,000 could trigger renewed selling pressure and expose the index to lower support levels. Overall, the near-term technical outlook for Bank Nifty remains cautiously constructive. Sustained trading above 58,000 would reinforce bullish momentum and support further upside, while failure to clear the resistance band could keep the index 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 five buy-or-sell stocks for intraday trading Karur Vysya Bank Ltd, Ipca Laboratories Ltd, State Bank of India (SBI), APL Apollo Tubes Ltd, and Computer Age Management Services Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Karur Vysya Bank in cash at ₹354; SL at ₹341; TGT at ₹380
Buy Ipca Laboratories in cash at ₹1,952; SL at ₹1,885; TGT at ₹2,085
Ganesh Dongre’s buy or sell stocks
Buy SBI at ₹1,060; SL at ₹1,040; TGT at ₹1,090
Buy APL Apollo Tubes at ₹2,150; SL at ₹2,100; TGT at ₹2,300
Buy Computer Age Management Services at ₹750; SL at ₹735; TGT at ₹775
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.
