Stock market news: The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a muted note on Monday, tracking mixed global cues.
Asian markets traded mixed in early deals, while US stock futures edged higher. Meanwhile, crude oil prices remained under pressure, offering some support to investor sentiment.
On Friday, domestic equity benchmarks extended their winning streak for a third consecutive session. The BSE Sensex advanced 261.79 points, or 0.34%, to close at 77,763.91, while the Nifty 50 gained 95.15 points, or 0.39%, to settle at 24,270.85.
Crude Oil Prices
Crude oil prices dropped following OPEC’s decision to boost its output targets starting in August. Brent crude futures decreased by 0.33% to $71.88 per barrel, whereas US West Texas Intermediate crude fell 0.16% to $68.58 per barrel.
Gold, silver rates today
Gold prices remained near a two-week high after a US jobs report that was cooler than expected, easing expectations for further interest rate increases by the Federal Reserve. The spot price of gold remained unchanged at $4,175.02 per ounce, while US gold futures for August delivery climbed 1.5% to reach $4,186.80 per ounce. Spot silver prices rose slightly by 0.1%, bringing the price to $62.47 per ounce.
OPEC
OPEC has announced an additional rise in output targets starting in August, according to a statement from the group. During an online meeting, the oil-producing alliance decided to boost quotas by 188,000 barrels per day as of August, following similar increases for June and July.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a flat-to-negative start for the Indian stock market today. By 7: 33 AM, the Gift Nifty was trading around the 24,335.5 level, a discount of 17.2 points from the Nifty futures’ previous close of 24,352.70.
Ponmudi R, CEO of Enrich Money, said Indian equities are expected to open on a steady note, supported by positive global cues, subdued crude oil prices and improving risk sentiment.
Geopolitical concerns have continued to recede as the US–Iran situation remains stable, with diplomatic engagement progressing and no major disruptions reported. The easing of tensions has reduced concerns over energy supply risks in the Middle East, underpinning investor confidence across global markets.
Crude oil prices have remained contained in the $68–69 per barrel range as shipments through the Strait of Hormuz continue uninterrupted and OPEC+ signals higher production in the coming months. Stable energy prices provide a favourable backdrop for India by easing inflationary pressures and supporting the country’s macroeconomic outlook.
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 strengthened its technical structure after reclaiming the 24,000 mark and sustaining above its short- and medium-term moving averages. A decisive move above the 24,450 level could extend the ongoing rally towards the 24,600–25,000 zone.
On the downside, the 24,100–23,900 zone is expected to provide immediate support, followed by a stronger support base around 23,600.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty continues to trade with a cautious undertone, although the broader bullish structure remains intact. From a technical perspective, the 58,200–58,300 zone continues to act as the immediate resistance area. A sustained move above this region would reinforce bullish momentum and could extend the recovery towards the 58,600–58,700 zone.
On the downside, a sustained break below the 58,000 mark could trigger fresh profit booking and drag the index towards the 57,600–57,500 support zone. Holding above these levels will be essential to preserve the prevailing positive structure.
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, Ltd,Ltd, Ltd, Ltd, Ltd, Ltd, and Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Indusind Bank in Cash at ₹974; SL at ₹940; TGT at ₹1,040
Buy Torrent Pharmaceuticals in cash at ₹4,768; SL at ₹4,600; TGT at ₹5,100
Ganesh Dongre’s buy or sell stocks
Buy Varun Beverages at ₹516; SL at ₹505; TGT at ₹540
Buy NTPC at ₹356; SL at ₹345; TGT at ₹370
Buy Coal India at ₹439; SL at ₹425; TGT at ₹456
Shiju Koothupalakkal’s intraday stocks for today
Buy ABB India cmp: ₹6,950 Target: ₹7,250 Stop loss: ₹6,840
Buy Astral cmp: ₹1,385 Target: ₹1,460 Stop loss: ₹1,355
Buy Brigade Enterprises cmp: ₹513.85 Target: ₹540 Stop loss: ₹500
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.