Stock market today: Gift Nifty hints a positive start; eight day trading stocks to buy on Wednesday, 26 August

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Wednesday, 26 August, in line with positive global market cues.

The Gift Nifty also signalled a positive start for domestic equities, trading around 24,559.5, a premium of about 88 points to the previous close of Nifty futures.

The domestic benchmark indices ended higher in the previous session, with the Nifty 50 reclaiming and closing above the 24,300 level.

The Sensex gained 286.98 points, or 0.37%, to settle at 77,656.09, while the Nifty 50 advanced 115.50 points, or 0.48%, to close at 24,334.55.

Crude oil prices

Oil prices fell for a third consecutive session as diplomatic efforts between Iran and Oman raised hopes of a resumption in shipping through the Strait of Hormuz, according to a Bloomberg report.

Brent crude slipped below $87 a barrel, taking its losses for the week to around 8%, while West Texas Intermediate (WTI) traded near $81 a barrel.

The decline followed discussions between Iranian Foreign Minister Abbas Araghchi and his Omani counterpart, Badr Albusaidi, on an “interim framework” aimed at reopening maritime traffic through the crucial waterway. The proposal involves establishing a temporary joint maritime corridor, according to a statement carried by the Oman News Agency.

Crude prices have declined this week as diplomatic efforts gained momentum and concerns over a renewed military escalation eased. Washington’s latest sanctions on Tehran also stopped short of imposing tougher measures on major trading partners, including China, the largest buyer of Iranian crude.

Despite the recent correction, oil futures remain up more than 40% so far this year as the US-Iran conflict, which has disrupted energy supplies from the Persian Gulf, approaches its six-month mark.

US-Iran War

According to news reports, US President Donald Trump said the US Navy had informed him that all mines in international waters of the Strait of Hormuz had either been removed or detonated, while warning Iran against laying any new mines in the strategic waterway.

In a post on Truth Social, Trump said Iran had been notified that any vessel involved in placing new mines in international waters would be “immediately and systematically destroyed”.

The warning comes as the Trump administration continues to intensify economic and military pressure on Tehran amid ongoing tensions over the Strait of Hormuz and stalled diplomatic efforts.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart shows a weak start for the Indian stock market today. By 8:00 AM, the Gift Nifty was trading around the 24,154 level, a discount of 60 points from the Nifty futures’ previous close of 24,209.60.

Ponmudi R, CEO of Enrich Money, said Indian equity markets are poised for a stronger start on Wednesday as a sharp decline in crude oil prices and a pullback in U.S. Treasury yields improve the backdrop for risk assets. The easing in global bond yields, coupled with a rebound on Wall Street overnight, has lifted investor sentiment. Reflecting an improved mood, GIFT Nifty futures are trading above the 24,500 mark in early trade, compared with the Nifty's previous close of 24,334, indicating a gap-up opening for domestic equities.

Crude oil has emerged as the key positive catalyst. WTI has fallen more than 6% over the past two sessions to trade in the $80–81-per-barrel range. For domestic markets, the retreat in oil prices provides a meaningful near-term tailwind after crude-driven inflation worries dominated sentiment over the past several weeks.

The geopolitical backdrop remains fluid. While tensions between the U.S. and Iran remain elevated, recent developments surrounding discussions involving Iran and Oman over the Strait of Hormuz have raised cautious optimism that supply-disruption risks could ease. Any further progress on that front would likely provide additional support to energy markets and broader global 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 has once again tested the trendline support, currently placed around 24,100. A decisive break below the 24100-24000 zone could extend the correction towards the 23,650–23,800 zone.

On the upside, the 24,400 region is expected to act as the immediate resistance on rebound. Given the rising geopolitical risks, and persistent volatility, we continue to advocate a stock-specific approach while maintaining disciplined risk and position management

On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes the Bank Nifty continues to demonstrate relative resilience, although it remains range-bound. The 57,800–58,000 region continues to act as the immediate resistance zone, and a sustained breakout above 58,000 would strengthen the recovery momentum and pave the way towards the 58,300–58,500 levels.

On the downside, 57,300–57,200 remains the immediate support zone, followed by the stronger 57,000 level. Holding above these support levels will be important to preserve the prevailing recovery structure, while a decisive break below 57,000 could trigger renewed selling pressure and weaken the near-term technical setup. Momentum indicators remain broadly balanced, with the RSI hovering around the neutral zone, while the MACD continues to require further improvement to provide stronger confirmation of the recovery. Overall, the near-term technical outlook for Bank Nifty remains cautiously constructive.

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 Indus Towers Ltd, Laurus Labs Ltd, ICICI Lombard General Insurance Company Ltd, Coal India Ltd, Adani Energy Solutions Ltd, Mazagon Dock Shipbuilders Ltd, Sterling and Wilson Renewable Energy Ltd, and Quess Corp Ltd.

Sumeet Bagadia's stock recommendations today

Buy Indus Towers in cash at ₹387; SL at ₹373; TGT at ₹415

Buy Laurus Labs in cash at ₹1,866; SL at ₹1,800; TGT at ₹1,995

Ganesh Dongre's buy or sell stocks

Buy ICICI Lombard General Insurance Company at ₹1,616; SL at ₹1,600; TGT at ₹1,648

Buy Coal India at ₹404; SL at ₹398; TGT at ₹412

Buy Adani Energy Solutions at ₹1,595; SL at ₹1,550; TGT at ₹1,670

Shiju Koothupalakkal's intraday stocks for today

Buy Mazagon Dock Shipbuilders cmp: ₹2,610; Target: ₹2,740; Stop loss: ₹2,560

Buy Sterling and Wilson Renewable Energy cmp: ₹197; Target: ₹210; Stop loss: ₹193

Buy Quess Corp cmp: ₹347; Target: ₹370; Stop loss: ₹338

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.