The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a cautious note on Tuesday amid mixed global cues, as investors continue to monitor developments surrounding the US-Iran peace agreement and the outlook for US interest rates.
Asian markets traded lower, while Wall Street ended on a mixed note overnight amid growing expectations that the US Federal Reserve could keep monetary policy tighter for longer.
On Monday, domestic equities extended their gains, supported by optimism over progress in US-Iran peace talks and easing crude oil prices, which improved risk sentiment across markets.
The BSE Sensex advanced 291.17 points, or 0.38%, to close at 77,094.07, while the NSE Nifty 50 gained 89.80 points, or 0.37%, to settle at 24,102.90.
US-Iran Peace Talks
US President Donald Trump stated that stopping Iran from obtaining nuclear weapons takes precedence over worries about the global economic impact, such as the potential for a worldwide depression. Previously, the US granted Iran a 60-day permit to enable the Islamic Republic to sell oil on the global market.
Crude oil prices
Crude oil prices rose amid cautious optimism about the US-Iran negotiations. Brent crude futures climbed 0.19% to $78.05 per barrel, while US West Texas Intermediate rose 0.39% to $74.15 per barrel.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a negative start for the Indian stock market today. By 7:43 AM, the Gift Nifty was trading around the 24,115 level, a discount of 8 points from the Nifty futures’ previous close of 24,123.80.
Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that the Nifty 50 continues to trade with a constructive bias, holding firmly above its key support levels despite intermittent profit-booking. From a technical perspective, the 24,200 level continues to act as the immediate resistance zone. A sustained breakout above this level would reinforce bullish momentum and could pave the way for a further advance towards the 24,400 region.
On the downside, the 24,000–23,900 region remains a crucial support zone. Holding above this range will be essential to preserve the prevailing recovery structure and maintain the positive undertone.
Gold, silver rates today
Gold prices remained stable as investors evaluated the peace discussions between the US and Iran, while increasing speculation about a Federal Reserve interest rate increase in December put pressure on the metal. The spot gold price held firm at $4,191.09 per ounce, while US gold futures set for August delivery increased by 0.2% to $4,208.40. Meanwhile, spot silver prices dipped by 0.4% to $64.92 per ounce.
India VIX today
According to Aakash Shah, Technical Analyst and Technical Research Analyst at Choice Broking in India, the VIX rose 2.35 per cent to 12.97 but continued to trade at relatively low levels and remained well below its major moving averages. The subdued volatility environment suggests that market participants remain comfortable with the broader trend. Sustaining below the 14 mark remains supportive for bullish sentiment and limits the possibility of sharp downside volatility.
Stock market today
Speaking on the outlook for the Nifty 50 today, Ajit Mishra, SVP — Research at Religare Broking, said, technically, buoyancy in the banking pack, combined with rotational participation from other sectors, is helping the index maintain its positive bias, although the pace of the advance remains gradual.
“We continue to maintain a constructive stance and recommend following a “buy on dips” approach as long as the Nifty holds above the 23,700 mark, with an upside potential towards the 24,450–24,600 zone. Sectorally, we reiterate our preference for rate-sensitive segments such as banking, realty, and auto, along with pharma and defence, while continuing to avoid aggressive long positions in the IT space,” said Mishra.
On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes that the Bank Nifty continues to outperform the broader market and remains well positioned above its key support levels, reflecting sustained buying interest in the banking space. From a technical perspective, the 58,000 psychological mark continues to act as the immediate resistance level. A sustained breakout above this zone would strengthen bullish momentum and could extend the rally towards the 58,300–58,500 region, which remains the next significant upside target.
On the downside, a sustained break below the 57,700 level could trigger fresh profit booking and drag the index towards the 57,500–57,400 support region. Overall, the near-term technical outlook remains cautiously bullish.
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: Bharat Forge Ltd, Adani Green Energy Ltd, Varun Beverages Ltd, Jindal Steel Ltd, Tata Power Company Ltd, TVS Motor Company Ltd, Marsons Ltd, and Power Finance Corporation Ltd.
Sumeet Bagadia’s stock recommendations today
Buy Bharat Forge in cash at ₹2,104; SL at ₹2,030; TGT at ₹2,250
Buy Adani Green Energy in cash at ₹1,550; SL at ₹1,500; TGT at ₹1650
Ganesh Dongre’s buy or sell stocks
BUY Varun Beverages at ₹513; SL at ₹500; TGT at ₹540
BUY Jindal Steel at ₹1,132; SL at ₹1,110; TGT at ₹1,170
BUY Tata Power at ₹406; SL at ₹400; TGT at ₹415
Shiju Koothupalakkal’s intraday stocks for today
Buy TVS Motor cmp: ₹3,488 Target: ₹3,650 Stop loss: ₹3,420
Buy Marsons cmp: ₹120.80 Target: ₹130 Stop loss: ₹116
BuyPower Finance Corporation cmp: ₹440.90 Target: ₹465 Stop loss: ₹430
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.