Stock market today: Gift Nifty hints a positive start; eight day trading stocks to buy on Friday, 4 September

Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Friday, 4 September, in line with positive global market cues.

The Gift Nifty also pointed to a positive start for domestic equities. It was trading around 24,051, indicating a premium of 50.9 points over the previous close of Nifty futures.

In the previous trading session, Indian equity benchmarks ended lower, with the Nifty 50 slipping below the 23,900 mark.

The Sensex declined 417.49 points, or 0.55%, to settle at 76,152.86, while the Nifty 50 fell 41 points, or 0.17%, to close at 23,873.45.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart shows a positive start for the Indian stock market today. By 7:58 AM, the Gift Nifty was trading around the 24,032 level, a premium of 32 points from the Nifty futures’ previous close of 24,000.10.

Ponmudi R, CEO of Enrich Money, said Indian markets are expected to open on a firmer footing, supported by Wall Street's overnight rebound and gains in Asian equities, as easing global bond yields provide some relief to risk assets. US Treasury yields retreated after Federal Reserve Governor Christopher Waller suggested that another rate hike may not be necessary if upcoming inflation data remains moderate. Even so, Friday's US nonfarm payrolls report remains the week's key macro event and is expected to shape expectations for the Federal Reserve's policy path. However, with geopolitical uncertainty persisting and crude oil prices holding at elevated levels, investors may remain reluctant to carry aggressive positions into the weekend, potentially limiting upside and prompting some profit-taking at higher levels.

Asian markets are trading higher in early trade, supported by the pullback in global bond yields and Wall Street's positive close overnight. Japan's Nikkei 225 is up around 0.5%, while South Korea's Kospi has gained more than 1%. Despite the improved global backdrop, investors remain focused on crude oil prices and developments in the Middle East, which continue to drive broader risk sentiment.

Stock market today

Speaking on the outlook for the Nifty 50 today, Ajit Mishra, Senior Vice President, Research at Religare Broking, said Nifty 50 continues to face hurdle on rebound, indicating weakening near-term structure.

The 23,800 zone remains an important near-term support, and a decisive break below this level could reopen the downside towards the 23,700–23,600 zone. On the upside, the 24,000–24,150 region is likely to act as the resistance zone. Given the prevailing combination of elevated crude prices, geopolitical uncertainty and weak market momentum, we recommend maintaining a cautious, stock-specific approach with a strong focus on risk management

On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty continues to demonstrate comparatively better resilience, although the index remains vulnerable to selling pressure at higher levels. On the upside, the 57,700–57,800 region remains the immediate resistance zone, followed by the major 58,000 level. The index has repeatedly encountered selling pressure near the upper end of this range, indicating persistent supply at higher levels. A decisive and sustained breakout above 58,000 would be essential to shift the near-term sentiment decisively in favour of the bulls and could support a stronger recovery.

On the downside, 57,300–57,200 remains the immediate support zone. Holding above this region would help maintain the prevailing range-bound structure, while a decisive break below 57,200 could intensify selling pressure and expose the index to the 57,000–56,800 region. The broader technical structure remains range-bound, with the index continuing to consolidate within a wider trading range. Overall, the near-term technical outlook remains cautious and range-bound.

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 Caplin Point Laboratories Ltd, RBL Bank Ltd, Multi Commodity Exchange of India Ltd (MCX), State Bank of India, ITC Hotels Ltd, Cemindia Projects Ltd, Netweb Technologies India Ltd, and GE Vernova T&D India Ltd.

Sumeet Bagadia's stock recommendations today

Buy Caplin Point Laboratories in cash at ₹2,845; SL at ₹2,745; TGT at ₹3,044

Buy RBL Bank in cash at ₹408; SL at ₹393; TGT at ₹437

Ganesh Dongre's buy or sell stocks

Buy MCX at ₹3,170; SL at ₹3,100; TGT at ₹3,300

Buy State Bank of India at ₹1,028; SL at ₹1,015; TGT at ₹1,055

Buy ITC Hotels at ₹160; SL at ₹155; TGT at ₹170

Shiju Koothupalakkal's intraday stocks for today

Buy Cemindia Projects cmp: ₹1,296; Target: ₹1,350; Stop loss: ₹1,270

Buy Netweb Technologies cmp: ₹5,270; Target: ₹5,500; Stop loss: ₹5,180

Buy GE Vernova T&D India cmp: ₹4,362; Target: ₹4,550; Stop loss: ₹4,280

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.