Stock market today: Trade guide for Gift Nifty, US-Iran war, US Fed meeting, gold & silver; 8 stocks to buy or sell

Stock market today: Extending the bull trend for the third straight session, the key benchmark indices of the Indian stock market finished higher on Wednesday. The Nifty 50 index went up 196 points and closed at 23,777. The BSE Sensex shot up 633 points to close at 76,704. The Bank Nifty index gained 450 points and closed at 55,326.

Among sectors, almost all the major sectoral indices registered buying interest at lower levels, but the Media index outperformed today, rallying over 3%.

What SGX Nifty live chart, Asian stock market signals?

The SGX Gift Nifty live chart suggests a sharp decline of over 500 points in the early morning session. At 8:25 AM, the Gift Nifty is trading around 23,300.

The Dow Jones and S&P 500 indices are down by around 1.50%, driven by the Asian stock market crash. The Japanese Nikkei is down around 3%, the South Korean KOSPI fell around 2.50%, and the Hang Seng is down by around 1.45%.

Decoding the Gift Nifty Live chart and the Asian stock market crash, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said, “The Indian stock market is poised for a weak start, with early signals from Gift Nifty indicating a sharp gap-down opening as global sentiment deteriorates. The shift in risk appetite follows weakness across US and Asian markets, triggered by a combination of hawkish policy signals and escalating geopolitical tensions.”

US Fed meeting: No rate cut in the near term?

Hariprasad of Livelong Wealth said that investor sentiment turned cautious after the Federal Reserve maintained rates, but highlighted rising oil prices as a key inflationary risk. Jerome Powell's commentary suggests that elevated energy prices could delay the rate-cut cycle, adding uncertainty to global growth expectations. This, coupled with renewed tensions in the Middle East and attacks on critical energy infrastructure, has pushed crude oil prices higher and weighed on global equity markets, including the Dow Jones Industrial Average.

Gold, silver rates today

Expecting a flat-to-weak opening for gold and silver rates today, Anuj Gupta, a SEBI-registered market expert, said, “After the escalation in the US-Iran war, crude oil prices have skyrocketed, renewing concerns about inflation. The US Dollar Index has regained the 100 level, putting pressure on precious metals. So, the MCX gold and silver rates are expected to open flat to weak today.”

Stocks to buy today

Regarding stocks to buy today, stock market experts — Sumeet Bagadia, Executive Director at Choice Broking, Ganesh Dongre, Senior Manager — Technical Research at Anand Rathi, and Shiju Koothupalakkal, Senior Manager — Technical Research at Prabhudas Lilladher, recommended these six buy-or-sell stocks for intraday trading: AU Small Finance Bank, Oberoi Realty, Jio Financial Services, Eternal, Tata Motors PV, Syrma SGS Technology, Finolex Cables, and Cummins India.

Sumeet Bagadia's stock recommendations for today

1] AU Small Finance Bank: Buy at ₹930.15, Target ₹995, Stop Loss ₹898;

2] Oberoi Realty: Buy at ₹1472.80, Target ₹1570, Stop Loss ₹1425.

Ganesh Dongre's buy or sell stocks

3] Jio Financial Services: Buy at ₹248, Target ₹260, Stop Loss ₹235;

4] Eternal: Buy at ₹242, Target ₹265, Stop Loss ₹230; and

5] Tata Motors PV: Buy at ₹324, Target ₹345, Stop Loss ₹315.

Shiju Koothupalakkal's intraday stocks for today

6] Syrma SGS Technology: 784, Target ₹840, Stop Loss ₹766;

7] Finolex Cables: Buy at ₹876, Target ₹940, Stop Loss ₹856; and

8] Cummins India: Buy at ₹4717, Target ₹4950, Stop Loss ₹4630.

Disclaimer: This story is for educational purposes only. 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.