Stock market today: Trade guide for Sensex, Nifty 50, crude oil to gold | Eight stocks to buy

Stock market today: The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Thursday, 10 September, amid mixed global cues.

The domestic equity indices ended lower in the previous session, with the benchmark Nifty 50 closing below 23,500 level.

The Sensex dropped 813.35 points, or 1.08%, to close at 74,764.23 , while the Nifty 50 settled 203.60 points, or 0.86%, lower at 23,431.50.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart shows a flat-to-negative start for the Indian stock market today. By 7:16 AM, the Gift Nifty was trading around the 23,477.5 level, a discount of 87 points from the Nifty futures’ previous close of 23,749.60.

Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, said Indian equities are likely to open flat to mildly negative, with GIFT Nifty indicating a cautious start. Global sentiment remains weak as elevated crude oil prices and rising bond yields revive concerns about inflation and interest rate outlooks. Beyond the opening, the market's response around the 23,400-23,300 zone will be crucial in determining whether the decline extends further or bargain buying sparks a technical recovery.

Brent crude is trading near $102 a barrel, revisiting its 23 July high—the level from which it previously reversed sharply towards $78. Another rejection from this zone could ease pressure on Indian equities. However, a sustained breakout above $102 would likely pose a significant headwind for Indian equities, as higher crude prices would intensify concerns about inflation, the rupee, the current account, and corporate margins.

Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today

Sensex Prediction

Sachin Gupta, VP – Technical Research at Choice Equity Broking, said the Sensex slipped below the 75,000 mark and closed near the lower end of the day's range, signalling weakness in the short-term structure. He placed immediate support at 74,500-74,600, while 75,000-75,200 remains the key resistance zone. The index is likely to trade within the broader 74,500-75,200 range, with the bias remaining sideways to bearish unless it convincingly reclaims the resistance zone.

Nifty 50 Prediction

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the Nifty 50 continued its sharp decline on Wednesday, closing 203 points lower. A long bearish candle was formed on the daily chart following a gap-down opening, with the opening gap remaining unfilled.

He said the price action indicates strong downside momentum in the Nifty 50. However, broader market indices, including the midcap, small-cap and microcap segments, have outperformed the benchmark with relatively smaller declines and continue to show overall bullish chart patterns.

Shetti noted that the 23,600 level, corresponding to the previous opening upside gap of 15 June, was decisively broken, keeping the overall Nifty 50 chart pattern bearish and raising the possibility of further near-term weakness. The next downside level to watch is around 23,070, the previous swing low of 8 June. Any pullback, however, could face strong resistance near 23,625, he said.

Bank Nifty Prediction

Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said the 55,900–55,800 zone is likely to act as a crucial support area going forward. A sustained break below 55,800 could open the door for a decline towards 55,400 levels.

On the upside, the 56,800–56,900 zone is expected to act as an immediate hurdle. However, a sustained move above 56,900 could extend the pullback towards 57,300, Shah said.

Crude Oil

According to a Reuters report, oil prices held firm on Thursday after Brent crude breached the $100-a-barrel mark, as traders braced for deeper supply disruptions following the largest attacks on shipping by Iran and the United States since their six-month-old conflict began.

Brent crude futures rose 0.1% to $101.34 a barrel by 0107 GMT, while US West Texas Intermediate (WTI) crude was up 0.5% at $96.55 a barrel.

Iran said on Wednesday that it had attacked 10 ships near the Strait of Hormuz after the US sank five Iranian oil tankers. Iran's Revolutionary Guard Corps also warned that it would escalate its response to any further attacks, Reuters reported.

Gold

According to Reuters, gold prices were little changed in early Asian trading on Thursday as investors remained cautious ahead of key US inflation data that could influence expectations for the Federal Reserve’s interest-rate path.

Spot gold was nearly flat at $4,396.69 per ounce as of 0015 GMT, while US gold futures for December delivery fell 0.4% to $4,440.80 per ounce, Reuters reported.

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 Sai Life Sciences Ltd, Finolex Cables Ltd, Bharat Heavy Electricals Ltd (BHEL), Vedanta Ltd, Alkem Laboratories Ltd, Fujiyama Power Systems Ltd, Rajratan Global Wire Ltd, and JSW Infrastructure Ltd.

Sumeet Bagadia's stock recommendations today

Buy Sai Life Sciences in cash at ₹1,675; Stop loss at ₹1,618; Target at ₹1,795

Buy Finolex Cables in cash at ₹1,353; Stop loss at ₹1,307; Target at ₹1,450

Ganesh Dongre's buy or sell stocks

Buy BHEL at ₹433; Stop loss at ₹426; Target at ₹445

Buy Vedanta at ₹273; Stop loss at ₹266; Target at ₹282

Buy Alkem Laboratories at ₹5,140; Stop loss at ₹5,050; Target at ₹5,300

Shiju Koothupalakkal's intraday stocks for today

Buy Fujiyama Power Systems cmp: ₹451; Target: ₹475; Stop loss: ₹440

Buy Rajratan Global Wire cmp: ₹520.85; Target: ₹550; Stop loss: ₹507

Buy JSW Infrastructure cmp: ₹341.40; Target: ₹360; Stop loss: ₹334

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.