Indian benchmark indices Sensex and Nifty 50 are likely to open on a subdued note on Wednesday amid mixed global cues, as investors assess developments surrounding the proposed US-Iran peace agreement.
Asian equities traded lower in early deals, while Wall Street ended on a mixed note overnight, weighed down by weakness in technology stocks.
The cautious start comes after Indian markets extended their winning streak for a third consecutive session on Tuesday, supported by easing geopolitical tensions and a sharp decline in crude oil prices following the announcement of a US-Iran peace deal.
The BSE Sensex surged 544.15 points, or 0.71%, to close at 76,808.48, while the NSE Nifty 50 gained 135.25 points, or 0.57%, to settle at 23,989.15, as investors welcomed the improved global risk environment.
US-Iran Peace Deal
Iran is anticipated to gain significant financial benefits as part of its deal with the US, which will allow it to sell oil without delay, access a $300 billion development fund, and eventually retrieve its frozen assets, according to a final version of the agreement reported by Bloomberg.
Crude Oil Prices
Crude oil prices increased as investors evaluated the possibility of the Iran conflict coming to a close and the reopening of the Strait of Hormuz. Brent crude futures climbed 0.49% to $79.35 per barrel, while US West Texas Intermediate surged to $76.44 per barrel, up 0.51%.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a flat-to-positive start for the Indian stock market today. By 7:41 AM, the Gift Nifty was trading around the 24,000.5 level, a discount of 0.5 points from the Nifty futures’ previous close of 24,001.
Ponmudi R, CEO of Enrich Money, said that Indian markets are likely to trade with a positive bias as improving geopolitical sentiment and a sharp decline in crude oil prices continue to support risk appetite. Crude oil prices have fallen sharply to a nearly three-month low and are currently trading in the $75–76 per barrel range. Falling energy prices are expected to act as a tailwind for the Indian economy, helping contain inflation, improve external balances and support earnings growth across several sectors.
However, some caution persists ahead of the upcoming US Federal Reserve policy meeting, as investors await further clarity on the future interest rate trajectory. The outcome and commentary from the Fed will be closely monitored by global markets and could influence near-term risk sentiment.
Domestically, concerns are beginning to emerge over the weak progress of the monsoon, with several parts of the country reporting significant rainfall deficits. Any prolonged disruption could affect farm incomes and rural demand, potentially weighing on consumption growth and sectors dependent on discretionary spending. Investors are therefore expected to closely track monsoon trends as an important indicator of the broader economic outlook.
Gold, silver rates today
Gold prices increased, marking a fifth consecutive session of gains, as worries regarding inflation diminished, while investors looked forward to the results of the US Federal Reserve’s policy meeting. The spot price of gold climbed 0.4% to $4,348.93 per ounce, whereas US gold futures for August delivery advanced 0.3% to $4,368.40. Spot silver prices also rose by 0.4%, reaching $70.47 per ounce.
India VIX today
Sachin Gupta, VP – Research, Technical Research, at Choice Broking Private Limited, said that the volatility index, India VIX, declined sharply by 6.89% to close at 13.36, indicating easing volatility and improved risk appetite among market participants.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking, said, the Nifty 50 continued to build on its recent breakout, although the pace of the advance remains gradual.” We maintain our view that the index could potentially retest the 24,200–24,500 zone in the near term, while the 23,650–23,800 region is likely to act as an important support area. With participation broadening across sectors, we recommend favouring relative outperformers while also booking profits on rallies until there is clearer confirmation of a sustained trend reversal.
On the outlook for the Bank Nifty today, Vatsal Bhuva, Technical Analyst at LKP Securities, believes that the index continued to hold above its 200-DMA, which acted as immediate support during the session. Additionally, the RSI remains above 60, suggesting that underlying momentum remains strong. The bullish chart structure remains intact following the breakout from the falling trendline, supporting a buy-on-dips strategy. Immediate support is placed at 57,000, while major support stands at 56,500 near the 100-DMA. On the upside, resistance is seen in the 57,500–57,800 zone.
Stocks to buy today
Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these seven buy-or-sell stocks for intraday trading: Titagarh Rail Systems Ltd, Chambal Fertilisers & Chemicals Ltd, SBI Cards and Payment Services Ltd, HCL Technologies Ltd, Oil and Natural Gas Corporation Ltd (ONGC), AWL Agri Business Ltd, NTPC Ltd, and Concord Enviro Systems Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Titagarh Rail Systems in cash at ₹895; SL at ₹850; TGT at ₹970
Buy Chambal Fertilisers & Chemicals in cash at ₹490; SL at ₹469; TGT at ₹522
Ganesh Dongre’s buy or sell stocks
BUY SBI Cards and Payment Services at ₹622; SL at ₹610; TGT at ₹645
BUY HCL Technologies at ₹1,760; SL at ₹1,730; TGT at ₹1,790
BUY ONGC at ₹248; SL at ₹240; TGT at ₹270
Shiju Koothupalakkal’s intraday stocks for today
Buy AWL Agri Business cmp: ₹197; Target: at ₹215; Stop loss: ₹192
Buy NTPC cmp: ₹355.50 Target: ₹372 Stop loss: ₹347
Buy Concord Enviro Systems cmp: ₹303 Target: ₹320 Stop loss: ₹295
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.
