The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to start Monday’s session on a positive note, tracking mixed global cues as investors weigh progress in US-Iran peace negotiations against concerns over rising crude oil prices and elevated bond yields.
Asian markets traded mostly in the green, while US stock futures edged lower as market participants continued to monitor developments surrounding the US-Iran talks.
On Friday, domestic equities ended lower, snapping a five-day winning streak amid heavy selling pressure in information technology stocks.
The BSE Sensex fell 607.08 points, or 0.78%, to close at 76,802.90, while the NSE Nifty 50 declined 154.90 points, or 0.64%, to settle at 24,013.10.
US-Iran War
Iranian negotiators reported progress in discussions with the United States, alleviating concerns that the negotiations were faltering. Representatives from Qatar and Pakistan issued a statement indicating that the initial round of talks had concluded and that headway had been made towards a plan to finalise an agreement within 60 days.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a positive start for the Indian stock market today. By 7:40 AM, the Gift Nifty was trading around the 24,147 level, a premium of 91 points from the Nifty futures’ previous close of 24,056.90.
Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that Indian equity markets are likely to open on a cautious note as optimism surrounding a potential US–Iran peace agreement has been tempered by reports of a rocky start to the negotiations. Concerns emerged after reports indicated that an Iranian delegation walked out of the talks following recent threats from US President Donald Trump, casting doubt on the pace and durability of the proposed agreement. Nevertheless, negotiations are reportedly continuing through mediators, suggesting that diplomatic efforts remain on track despite the initial setback.
The renewed uncertainty has pushed crude oil prices modestly higher, a development that could weigh on near-term sentiment. Investors are likely to remain focused on further headlines from the negotiations, as any signs of progress or escalation could significantly impact energy prices and broader market sentiment. Crude oil prices have edged higher and are currently trading in the $77–78 per barrel range after recently declining to around $73 per barrel.
RBI MPC Meeting Minutes
All six members of the RBI’s Monetary Policy Committee supported a cautious approach, voting to maintain the current benchmark interest rates earlier this month, citing significant uncertainty about inflation trends and economic growth prospects due to the US-Iran conflict, as indicated by the MPC meeting minutes.
Crude Oil Prices
Crude oil prices increased as shipping traffic through the Strait of Hormuz declined, coinciding with rocky initial talks between US and Iranian officials. Brent crude futures rose by 0.83% to reach $81.24 per barrel, while US West Texas Intermediate crude futures climbed 2.04% to $77.40 per barrel.
Gold, silver rates today
Gold prices rose over 1%, recovering from a low not seen in more than a week as worries about inflation and rising interest rates eased. The spot price of gold rose by 1.2% to reach $4,209.03 per ounce, whereas US gold futures for August delivery dropped by 0.5% to $4,225.80. The spot price of silver surged by 2.6%, reaching $66.60 per ounce.
India VIX today
Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse Ltd, said that the India VIX declined 13% during the week, settling below 13, and any further moderation in volatility could provide additional support to the market’s positive sentiment.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking, said, the Nifty 50 witnessed profit-taking after encountering resistance near the 24,150 zone, which coincides with the 100-day EMA. While the broader recovery structure remains intact above the 23,700 support zone, the inability to sustain above higher levels suggests a possible consolidation phase before the index resumes its gradual uptrend towards the 24,500–24,600 zone. Given the prevailing mixed setup, we continue to advocate a stock-specific approach, favouring relative outperformers while maintaining disciplined risk management.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes that the Bank Nifty continues to exhibit underlying strength, comfortably holding above its key support levels and indicating that the broader recovery trend remains intact. From a technical perspective, the 58,000 psychological mark remains the immediate resistance level. A sustained breakout above this zone would reinforce bullish momentum and could pave the way for an extension of the rally towards the 58,300–58,500 region, which represents the next significant upside target.
On the downside, the 57,500–57,400 region is expected to act as an important immediate support 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 eight buy-or-sell stocks for intraday trading: Ltd, Ltd, Ltd, Ltd, Ltd, Ltd, Ltd, and Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Kalpataru Projects International in Cash at ₹1,399 SL at ₹1,330; TGT aat ₹1,530
Buy Welspun Corp in Cash at ₹1,423; SL at ₹1,350; TGT at ₹1,570
Ganesh Dongre’s buy or sell stocks
BUY Eicher Motors at ₹7,649; SL at ₹7,550; TGT at ₹7,850
BUY Eternal at ₹263; SL at ₹255; TGT at ₹272
BUY Sarda Energy & Minerals at ₹524; SL at ₹510; TGT at ₹545
Shiju Koothupalakkal’s intraday stocks for today
Buy PNC Infratech cmp: ₹227 Target: ₹242 Stop loss: ₹222
Buy Diamond Power Infrastructure cmp: ₹209 Target: ₹225 Stop loss: ₹204
Buy Aster DM Healthcare cmp: ₹809 Target: ₹850 Stop loss: ₹790
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.