Stock market today: Gift Nifty hints a muted start; eight day trading stocks to buy on Friday, 14 August

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Friday, 14 August, amid mixed global cues and cautious investor sentiment.

The Gift Nifty also pointed to a muted start, trading around 24,439, indicating a discount of 29 points to the previous close of Nifty futures.

Domestic equities ended on a mixed note in the previous session, with the Nifty 50 closing below the 24,400 mark, while the Sensex managed to finish higher.

The Sensex gained 113.61 points, or 0.15%, to settle at 78,079.96, while the Nifty 50 declined 40.10 points, or 0.16%, to close at 24,395.85.

Crude oil prices

Oil prices edged higher on Friday after the US said it could maintain its naval blockade of Iran indefinitely, reviving concerns over potential disruptions to crude supplies. The move came a day after oil prices fell sharply on expectations of weaker global demand, according to a Reuters report.

Brent crude futures rose 9 cents, or 0.1%, to $87.16 a barrel, while US West Texas Intermediate (WTI) crude futures gained 4 cents to $81.29 a barrel by 0130 GMT.

Both benchmarks declined more than 2% in the previous session, snapping a six-session winning streak for Brent and a five-session rally for WTI. Despite the pullback, both contracts remained on track to gain around 4% for the week.

The US said on Thursday that it could maintain the naval blockade of Iran indefinitely and intensify economic pressure on Tehran as ceasefire negotiations remain stalled, adding fresh uncertainty to the outlook for Middle East oil supplies.

US Iran war

According to news reports, the United States has indicated that it could maintain its naval blockade of Iran indefinitely and further intensify economic pressure on Tehran, as ceasefire talks remain stalled and tensions in the region continue to escalate.

US Defence Secretary Pete Hegseth said the US military has the capability to sustain its naval presence in the region for as long as required to enforce the blockade. The measures have already placed significant economic pressure on Iran, reports said.

Hegseth told reporters that the US Navy could maintain the blockade indefinitely by rotating ships in and out of the region, signalling that Washington is prepared for a prolonged standoff with Tehran.

Gold prices today

According to a Bloomberg report, gold prices were largely unchanged after slipping below $4,400 an ounce, as investors assessed the Federal Reserve’s interest-rate outlook and the possibility of a deal to reopen the Strait of Hormuz.

The precious metal remained on track for its second consecutive weekly gain, despite retreating on Thursday from a 10-week high. A softer-than-expected US inflation reading suggested that the impact of energy price shocks stemming from the Iran conflict eased in July, reducing expectations of a more aggressive monetary policy stance by the Fed.

Markets are currently pricing in roughly a one-in-three probability of a September rate hike. Investors will also track upcoming US employment data and comments from Fed Chair Kevin Warsh at the central bank’s annual Jackson Hole symposium later this month.

While expectations of stable or lower interest rates generally support non-yielding gold, persistently high rates could weigh on bullion by making interest-bearing assets more attractive. Meanwhile, renewed tensions in the Middle East could push energy prices higher again, potentially reviving inflationary pressures.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart shows a muted start for the Indian stock market today. By 7:51 AM, the Gift Nifty was trading around the 24,436 level, a discount of 32 points from the Nifty futures’ previous close of 24,468.

Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to trade with a cautious bias, with investors likely to remain selective despite an improvement in global risk appetite. While softer US inflation data has reinforced expectations that the Federal Reserve will keep interest rates unchanged in September, the unresolved US-Iran standoff continues to underpin crude oil prices, leaving oil-importing economies such as India more vulnerable to inflationary pressures and currency volatility.

Overnight, Wall Street advanced, with the S&P 500 closing at a record high after weaker-than-expected US producer price inflation strengthened expectations of a steady Federal Reserve policy stance. Continued strength in AI-driven technology stocks also lifted the Nasdaq, extending the positive momentum across US equities.

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 technically, the 24,350 support zone remains crucial, with bulls making efforts to defend this level and prevent further deterioration in the near-term structure. At the same time, mixed trends among key index heavyweights make it difficult to establish a clear directional bias.

On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty is expected to remain range-bound in the near term, with the broader structure holding relatively steady as long as the index sustains above the 57,500–57,400 support region. The 57,800–58,000 zone remains the immediate resistance band. A sustained breakout above 58,000 could strengthen buying momentum and pave the way for an advance towards the 58,300–58,500 region.

On the downside, 57,500 remains the immediate support, followed by the 57,200–57,000 zone. Sustaining above 57,400 will be important to preserve the prevailing recovery structure, while a decisive break below 57,200 could trigger fresh profit booking and weaken the near-term technical setup. Overall, the near-term outlook remains cautious and range-bound, with 58,000 acting as the key upside trigger and 57,400–57,200 serving as the crucial support zone.

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: Raymond Ltd, SG Mart Ltd, Bharat Electronics Ltd (BEL), Motilal Oswal Financial Services Ltd, InterGlobe Aviation Ltd (Indigo), Black Box Ltd, Anant Raj Ltd, and Greaves Cotton Ltd.

Sumeet Bagadia's stock recommendations today

Buy Raymond in cash at ₹642; SL at ₹611; TGT at ₹690

Buy SG Mart in cash at ₹757; SL at ₹709; TGT at ₹810

Ganesh Dongre's buy or sell stocks

Buy BEL at ₹411; sl at ₹400; tgt at ₹430

Buy Motilal Oswal Financial Services at ₹900; sl at ₹885; tgt at ₹935

Buy Indigo at ₹5,760; sl at ₹4,650; tgt at ₹5,950

Shiju Koothupalakkal's intraday stocks for today

Buy Black Box cmp: ₹832; Target: ₹885; Stop loss: ₹814

Buy Anant Raj cmp: ₹627; Target: ₹675; Stop loss: ₹612

Buy Greaves Cotton cmp: ₹198; Target: ₹215; Stop loss: ₹193

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.