Stock market today: Gift Nifty hints a flat start; eight day trading stocks to buy on Wednesday, 19 August

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open flat on Wednesday, 19 August, amid weak global cues.

The Gift Nifty also pointed to a muted start for domestic equities. It was trading around 24,210, indicating a 20.1-point discount to the previous close of Nifty futures.

Indian benchmark indices ended sharply lower in the previous session, with the Nifty 50 slipping below the 24,200 mark. The Sensex declined 492.70 points, or 0.63%, to settle at 77,235.46, while the Nifty 50 fell 132.75 points, or 0.55%, to close at 24,154.90.

Crude oil prices

Oil prices edged higher in early trade on Wednesday, extending gains for a fourth straight session amid persistent supply concerns. Uncertainty over the status of shipping through the Strait of Hormuz, coupled with conflicting signals from Iran and the US, kept investors cautious.

Brent crude futures rose 26 cents, or 0.29%, to $91.28 a barrel, while US West Texas Intermediate (WTI) crude gained 37 cents to $85.31 a barrel.

Both benchmarks settled at their highest levels since 24 July on Tuesday, supported by fading hopes of a peace agreement between the US and Iran and concerns over potential disruptions to global oil supplies.

US-Iran war

US President Donald Trump said on Tuesday that no negotiations were underway with Iran and maintained that the Strait of Hormuz remained open to shipping, contradicting Tehran's claim that the key waterway was closed.

The temporary ceasefire between the US and Iran expired on Monday, while a senior Iranian official said the country was shifting to a “fully offensive” military posture amid stalled diplomatic efforts. However, no fresh attacks were reported on Tuesday.

Meanwhile, Iraq's cabinet approved a new mechanism to export crude through specialised international and domestic companies using multiple routes. The contracts will remain valid for three months from 1 September, according to a government statement.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart shows a muted start for the Indian stock market today. By 7:50 AM, the Gift Nifty was trading around the 24,211.5 level, a discount of 19 points from the Nifty futures’ previous close of 24,230.10.

Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to remain under pressure as renewed strength in crude oil prices and a sharp rise in global bond yields continue to weigh on investor sentiment. The expiry of the temporary 60-day US-Iran ceasefire without any meaningful diplomatic breakthrough has renewed concerns over a prolonged disruption to energy supplies, driving crude oil prices higher and pushing long-term US Treasury yields to multi-year highs. The combination has triggered a broad risk-off mood across global financial markets.

Global cues remain weak. Wall Street ended lower overnight for a third consecutive session, while Asian markets opened sharply weaker. Early indications from GIFT Nifty futures, trading around the 24,190 mark compared with the Nifty's previous close of 24,154, point to a largely flat opening for domestic equities.

Crude oil remains firmly in focus, with WTI trading in the $84–85 per barrel range as the US–Iran standoff continues with no clear path toward a negotiated resolution.

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 slipped below the crucial 24,200 support zone, further weakening the near-term structure after six consecutive sessions of decline. The current setup indicates the possibility of further correction towards 24,000, followed by 23,800. On the upside, 24,250 is likely to act as the immediate hurdle, followed by the 24,350–24,400 zone.

On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty is expected to remain range-bound with a cautious undertone, as the index continues to consolidate within the broader 57,100–58,000 range. The index has shown comparatively better resilience than Nifty but remains vulnerable to selling pressure at higher levels. On the upside, 57,500 remains the immediate resistance level, followed by the stronger 57,800–58,000 zone.

On the downside, 57,200–57,100 remains the crucial support region. While a decisive break below 57,000 could weaken the near-term bias and invite fresh selling pressure towards the 56,800–56,600 region. Overall, the near-term outlook remains cautious.

Stocks to buy today

Regarding stocks to buy today, market experts — Sumeet Bagadia of Choice Broking, Ganesh Dongre, and Senior Manager — Technical Research at Anand Rathi, recommended these eight buy-or-sell stocks for intraday trading: Lenskart Solutions Ltd, Welspun Corp Ltd, BSE Ltd, Cipla Ltd, Polycab India Ltd, BEML Ltd, Samvardhana Motherson International Ltd, and Jayaswal Neco Industries Ltd.

Sumeet Bagadia's stock recommendations today

Buy Lenskart in cash at ₹628; SL at ₹606; TGT at ₹670

Buy Welspun Corp in cash at ₹1,917; SL at ₹1,850; TGT at ₹2,050

Ganesh Dongre's buy or sell stocks

Buy BSE at ₹3,308; sl at ₹3,250; tgt at ₹3,450

Buy Cipla at ₹1,430; sl at ₹1,410; tgt at ₹1,470

Buy Polycab India at ₹9,140; sl at ₹9,000; tgt at ₹9,400

Shiju Koothupalakkal's intraday stocks for today

Buy BEML cmp: ₹1,965; Target: ₹2,040; Stop loss: ₹1,925

Buy Samvardhana Motherson International cmp: ₹170.40; Target: ₹182; Stop loss: ₹166

Buy Jayaswal Neco Industries cmp: ₹90.20; Target: ₹98; Stop loss: ₹88

Disclaimer: 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.