Stock market news: The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Friday, supported by positive cues from Wall Street, although losses across Asian markets may temper early gains.
Asian equities traded in the red during early trade, while the US stock market ended mixed overnight. The Dow Jones Industrial Average extended its rally for a fourth consecutive session, marking its longest winning streak since October 2024.
Back home, benchmark indices ended Thursday’s session with strong gains, driven by broad-based buying across sectors. The BSE Sensex climbed 579.48 points, or 0.75%, to close at 77,502.12, while the Nifty 50 advanced 169.85 points, or 0.71%, to settle at 24,175.70.
Crude Oil Prices
Crude oil prices decreased as the volume of oil being transported through the Strait of Hormuz rose further. The price of Brent crude oil decreased by 0.31% to $71.58 per barrel, while the US West Texas Intermediate (WTI) crude also fell by 0.35% to $68.45.
US-Iran Tensions
Fresh tensions resurfaced between the US and Iran after Iranian Foreign Minister Abbas Araghchi criticised the US Central Command (CENTCOM) for convening a regional security conference in Bahrain. Araghchi rejected the idea that Western intervention brings stability to West Asia, asserting that Iran’s armed forces had demonstrated that “outsiders cannot even protect themselves.” He reiterated that lasting peace in the region can only be achieved without external interference.
Russia-Ukraine War
The Russia-Ukraine conflict intensified after Russia launched a fresh wave of drone and missile strikes on Kyiv, killing 27 people overnight. In response, Ukrainian President Volodymyr Zelenskyy vowed that Ukraine would “definitely” retaliate for the attacks as he visited a residential building that was partially destroyed in the bombardment.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a positive start for the Indian stock market today. By 8:11 AM, the Gift Nifty was trading around the 24,410.5 level, a premium of 146 points from the Nifty futures’ previous close of 24,265.
Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to trade on a stable note, supported by lower crude oil prices and improving global risk sentiment. Continued progress in the US–Iran negotiations has strengthened hopes for a diplomatic resolution, easing concerns over energy supply disruptions and supporting risk assets.
Meanwhile, softer-than-expected US jobs data has tempered expectations of near-term monetary tightening by the Federal Reserve, offering an additional boost to investor sentiment.
Nevertheless, caution is likely to prevail at higher levels as markets await greater clarity on the outcome of the negotiations, with geopolitical developments expected to remain the key near-term catalyst.
Crude oil prices continue to provide a favourable backdrop for Indian equities. After recently falling to a low near $67 per barrel, crude is currently trading in the $68–69 range. The sustained softness in energy prices supports India’s macroeconomic outlook by easing external sector pressures, moderating inflation risks and reinforcing overall investor sentiment.
Gold, silver rates today
Gold prices rose, aiming for their first weekly gain in five weeks, as investors reduced their expectations for Federal Reserve interest rate hikes. The spot price of gold rose 0.5% to $4,144.83 per ounce. US gold futures for August delivery climbed 0.8% to $4,157.50. Bullion is set to achieve a weekly gain of 1.2%, marking its first increase since 25 May. The spot price of silver also rose by 0.5% to $61.28 per ounce.
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 has reclaimed its medium-term moving average, the 100-day EMA, around the 24,130 zone, indicating an improvement in the overall bullish tone. A sustained move above this level could pave the way for an extension towards the 24,450–24,600 zone in the near term. On the downside, the 24,000 mark is expected to provide immediate support, followed by the 23,800 zone.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes the Bank Nifty continues to trade with a stable technical bias, indicating that the broader uptrend remains firmly intact. From a technical perspective, the 58,200–58,300 region continues to act as the immediate resistance zone. A sustained move above this band would reinforce bullish momentum and could extend the ongoing rally towards the 58,600–58,700 resistance region.
On the downside, the 58,000 psychological mark remains a crucial support level. A sustained break below this zone could trigger fresh selling pressure and drag the index towards the 57,600–57,500 support region.
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 eight buy-or-sell stocks for intraday trading: Ltd (Nykaa), Ltd, Ltd, Ltd, Ltd, Ltd, Ltd, and Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Nykaa in cash at ₹314; SL at ₹303; TGT at ₹336
Buy Zydus Wellness in cash at ₹594; SL at ₹573; TGT at ₹635
Ganesh Dongre’s buy or sell stocks
BUY Bharti Airtel at ₹1,875; SL at ₹1,835; TGT at ₹1,910
BUY HDFC Life at ₹570; SL at ₹560; TGT at ₹590
BUY Varun Beverages at ₹512; SL at ₹500; TGT at ₹530
Shiju Koothupalakkal’s intraday stocks for today
Buy Enviro Infra Engineers cmp: 228.40 Target: 240 Stop loss: 223
Buy Anant Raj cmp: ₹537.65; Target: ₹570; Stop loss: ₹525
Buy Epack Prefab Technologies cmp: ₹258; Target: ₹275; Stop loss: ₹252
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.