Stock market today: The Indian stock market is likely to open on a muted note on Friday, 18 September, in line with mixed global cues. Trends on Gift Nifty also point to a subdued start for the benchmark indices, Nifty 50 and Sensex.
Gift Nifty was trading around 23,348, indicating a premium of nearly 15 points over the previous close of Nifty futures.
In the previous session, domestic equity benchmarks ended mixed. The Sensex declined 21.86 points, or 0.03%, to close at 74,314.59, while the Nifty 50 gained 53 points, or 0.23%, to settle at 23,270.60.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a flat start for the Indian stock market today. By 7:19 AM, the Gift Nifty was trading around the 23,348 level, a premium of 15 points from the Nifty futures’ previous close.
Ponmudi R, CEO of Enrich Money, said Indian equity markets are set for a steady opening today, supported by a retreat in crude oil prices and a modest pullback in US Treasury yields that helped fuel a relief rally across Wall Street overnight. Asian markets are also trading higher in early trade, with the Nikkei 225 gaining more than 0.5% and South Korea’s KOSPI advancing over 2%, providing a supportive regional backdrop for domestic equities. GIFT Nifty futures are trading around 23,343, compared with the Nifty 50’s previous close of 23,270, pointing to a firm opening for Indian equities.
The decline in WTI crude from its recent peak offers some relief on the macroeconomic front, but oil prices remain near the $100-a-barrel mark in international markets. That level is still high enough to keep investors guarded, given the potential impact on India’s import bill, inflation outlook and corporate margins.
Despite the marginal pullback in oil prices, continuing geopolitical uncertainty and the conflict’s expansion into new fronts remain a major overhang for global markets. Investors are likely to closely monitor developments in the Middle East, as any renewed escalation could quickly reverse the recent decline in crude prices and add to market volatility.
Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today
Sensex Prediction
Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said the Sensex is likely to remain under pressure unless it sustains above the 74,700–75,000 resistance zone. He identified 73,500–74,200 as a crucial support band, which could help prevent further weakness. A decisive breakdown below this zone, he said, could trigger renewed selling pressure.
Gupta advised traders to monitor the inside-bar range and wait for a clear breakout or breakdown before taking fresh directional positions.
Nifty 50 Prediction
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the Nifty 50 extended its minor rebound on Thursday amid choppy trading and closed 53 points higher. A small positive candle with an upper shadow was formed on the daily chart.
According to Shetti, the recent market action indicates a minor rebound over the past couple of sessions from the key support zone of 23,100–23,000. These levels coincide with the previous opening upside gap formed on April 8 and the swing low recorded in early June.
However, Shetti noted that the Nifty has lacked strength for a sharp recovery from these support levels, while the bearish pattern of lower highs and lower lows remains intact on the daily chart.
On the upside, the index could face a strong hurdle around 23,400–23,500. A decisive break below 23,000, however, could trigger another round of weakness in the market.
Bank Nifty Prediction
Ponmudi R, CEO of Enrich Money, said the broader technical structure of the Bank Nifty remains weak, with the index trading below key resistance levels and momentum indicators continuing to signal selling pressure.
On the upside, 56,700–56,800 remains the immediate resistance zone. According to Ponmudi, a sustained move above 57,000 would be required to improve the near-term technical structure and support a recovery towards higher levels.
On the downside, 56,000 remains the crucial immediate support. A decisive break below this level could accelerate the weakness towards 55,800–55,700.
Ponmudi noted that the RSI, at around 38, remains below its signal line, while the bearish MACD structure indicates that downside momentum is still present. Overall, he said the technical outlook remains weak, with the index likely to stay volatile below 56,800 and remain vulnerable to further selling if 56,000 is breached.
Crude Oil
According to a Reuters report, oil prices fell around 1% on Friday, extending losses for a third consecutive session, although both benchmarks remained above the $100-a-barrel mark. Hopes that alternative routes could help move Middle Eastern crude to global markets outweighed concerns over strikes involving Saudi Arabia and Yemen’s Houthis.
Brent crude futures fell $1.01, or 1%, to $103.77 a barrel by 0020 GMT, while US West Texas Intermediate (WTI) crude futures declined $1.03, or 1%, to $100.88 a barrel. Both benchmarks had ended about 1% lower in the previous session.
Gold
According to a Reuters report, gold prices edged higher on Friday, supported by lower oil prices and a subdued US dollar, while investors remained focused on developments in the Middle East and the outlook for global monetary policy.
Spot gold rose 0.3% to $4,352.60 per ounce as of 0050 GMT. Meanwhile, US gold futures for December delivery declined 0.2% to $4,391.60.
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 of Technical Research at Prabhudas Lilladher, recommended these eight buy-or-sell stocks for intraday trading Ltd, Ltd, Ltd (HPCL), Ltd, Ltd, (M&M),Ltd (BEL), and Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Aegis Vopak Terminals in cash at ₹311; stoploss at ₹300; target price at ₹332
Buy Ipca Laboratories in cash at ₹1,978; stoploss at ₹1,907; target price at ₹2,115
Ganesh Dongre’s buy or sell stocks
Buy HPCL at ₹350; stoploss at ₹340; target price at ₹365
Buy Vedanta at ₹256; stoploss at ₹246; target price at ₹272
Buy ITC at ₹264; stoploss at ₹250; target price at ₹280
Shiju Koothupalakkal’s intraday stocks for today
Buy Mahindra & Mahindra (M&M) cmp: ₹3,076; target price: ₹3,240; Stop loss: ₹3,020
Buy BEL cmp: ₹395.45; target price: ₹417; Stop loss: ₹386
Buy Laxmi Organic Industries cmp: ₹179; target price: ₹192; Stop loss: ₹175
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.