Stock market today: Gift Nifty hints a weak start; eight day trading stocks to buy on Tuesday, 11 August

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open weak on Tuesday, 11 August, as a sharp rise in Brent crude oil prices continues to weigh on investor sentiment.

The Gift Nifty also pointed to a negative start for the Indian benchmark indices. Gift Nifty was trading at around 24,616.5, indicating a 43.2-point discount to the previous close of Nifty futures.

On Monday, the Indian stock market ended on a muted note, with the Nifty 50 closing below the 24,600 mark.

The Sensex gained 43.27 points, or 0.06%, to close at 78,542.44, while the Nifty 50 settled 13.15 points, or 0.05%, higher at 24,583.80.

Crude oil prices

Oil prices held near their highest levels in more than a week on Tuesday as hopes of a US-Iran agreement to end the conflict and reopen the Strait of Hormuz weakened. Uncertainty increased after US President Donald Trump called on Iran to compensate the United States for damages resulting from the conflict.

Brent crude futures were largely unchanged at $87.81 a barrel, while US West Texas Intermediate (WTI) crude futures stood at $82.20 a barrel. Both benchmarks surged more than 5% on Monday, reaching their highest levels since 31 July.

US-Iran war

The outlook for a potential US-Iran agreement became more uncertain after Trump said Iran would be required to compensate the United States for people killed in the conflict. Tehran has also renewed its demand for reparations as part of negotiations aimed at ending the war.

Trump said the compensation demand would be firmly included in any future negotiations, potentially reducing the chances of an immediate agreement that could facilitate the reopening of the Strait of Hormuz.

Meanwhile, the Middle East conflict, alongside the ongoing Russia-Ukraine war, has disrupted refinery operations and tightened diesel supplies, contributing to higher oil prices across Europe and the US.

Iran and Oman continue to negotiate over reopening the strategic waterway. Tehran has maintained that any agreement would require Washington to lift its blockade and provide compensation for damages. Before the conflict, the Strait of Hormuz handled roughly one-fifth of global oil and liquefied natural gas shipments, making its reopening critical for global energy markets.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart shows a weak start for the Indian stock market today. By 8:03 AM, the Gift Nifty was trading around the 24,614 level, a discount of 46 points from the Nifty futures’ previous close of 24,659.70.

Ponmudi R, CEO of Enrich Money, said, Indian equity markets are expected to trade with a cautious bias as uncertainty surrounding US-Iran negotiations over the reopening of the Strait of Hormuz continues to weigh on global risk sentiment. The renewed geopolitical uncertainty has triggered a rebound in crude oil prices, contributing to a weaker close on Wall Street and a subdued start across Asian markets, setting a cautious backdrop for domestic equities.

Investor sentiment remains restrained as negotiations appear to have entered a more complex phase. US President Donald Trump has called for compensation from Iran, while Tehran has reiterated conditions for reopening the Strait of Hormuz, raising doubts over the timing and durability of any potential agreement. Until greater clarity emerges, markets are likely to remain headline-driven, with investors reluctant to take aggressive directional positions.

WTI crude oil continues to hold on to its recent gains, trading near the $82-per-barrel mark as uncertainty surrounding the Strait of Hormuz negotiations keeps a geopolitical risk premium embedded in energy prices.

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 continues to hold above the crucial 24,350–24,500 support zone, keeping the broader bullish structure intact despite the recent consolidation. The index is currently consolidating below the immediate hurdle of 24,800–25,000, and a decisive breakout above this zone could pave the way for an extension towards 25,200.

On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty is expected to trade with a cautious bias, with the 57,500–57,300 zone acting as the key support area. On the upside, the 58,000 psychological level remains the immediate resistance. A sustained breakout above 58,000–58,100 could strengthen buying momentum and pave the way for an advance towards the 58,500 region.

On the downside, the 57,500 level aligns with the 20-day EMA, making it an important near-term support level to hold. A decisive break below 57,300 could intensify selling pressure and drag the index towards the 57,000 mark. Overall, the 57,300–58,000 range remains crucial, with a decisive breakout on either side likely to provide the next directional cue.

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: Piramal Pharma Ltd, Titan Company Ltd, Piramal Finance Ltd, Bharat Electronics Ltd (BEL), Grasim Industries Ltd, Billionbrains Garage Ventures Ltd (Groww), Cemindia Projects Ltd, and JSW Energy Ltd.

Sumeet Bagadia's stock recommendations today

Buy Piramal Pharma in cash at ₹214; SL at ₹206; TGT at ₹230

Buy Titan Company in cash at ₹5,090; SL at ₹4,910; TGT at ₹5,450

Ganesh Dongre's buy or sell stocks

Buy Piramal Finance at ₹2,100-2,110; SL ₹2,040; TGT ₹2,200

Buy BEL at ₹405; sl at ₹395; tgt at ₹420

Buy Grasim Industries at ₹3,380; sl at ₹3,300; tgt at ₹3,700

Shiju Koothupalakkal's intraday stocks for today

Buy Groww cmp: ₹193; Target: ₹205; Stop loss: ₹188

Buy Cemindia Projects cmp: ₹1,266; Target: ₹1,330; Stop loss: ₹1,250

Buy JSW Energy cmp: ₹578; Target: ₹615; Stop loss: ₹565

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.