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

Stock market today: The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open in the red on Wednesday, 9 September, amid mixed global cues.

The domestic equity indices ended lower in the previous session, with the benchmark Nifty 50 closing below 23,700 level.

The Sensex dropped 555.23 points, or 0.73%, to close at 75,577.58 , while the Nifty 50 settled 144.05 points, or 0.61%, lower at 23,635.10.

What Gift Nifty live chart signals?

The Gift Nifty Live Chart shows a negative start for the Indian stock market today. By 7:02 AM, the Gift Nifty was trading around the 23,663 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 with a gap-down, with GIFT Nifty signalling a weak start as Brent crude approaches the $100-a-barrel mark and escalating tensions in the Middle East continue to weigh on global risk appetite. A weak Wall Street close has added to the cautious tone. Beyond the opening, the market's response around the 23,600 level will be critical in determining whether selling extends towards 23,500 or bargain buying triggers a recovery towards the 23,750-23,800 zone.

Brent crude is trading near $99.60 a barrel after the US-Iran conflict widened and Iran-backed Houthi attacks disrupted Saudi energy infrastructure. For India, sustained crude prices around or above $100 could intensify inflationary pressures, weigh on the rupee and the current account, squeeze corporate margins and diminish expectations of monetary easing. As a result, elevated oil prices are likely to remain a key overhang on domestic market sentiment even if broader global cues improve.

Global markets are sending mixed signals. Wall Street closed lower overnight as rising crude prices and a sell-off in software stocks dampened risk appetite, while Asian equities have opened on a slightly positive note, led by gains in Japan's Nikkei and South Korea's Kospi.

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

Sensex Prediction

Hitesh Tailor, Technical Research Analyst at Choice Equity Broking, said the Nifty 50 remains below both its 50-day EMA at around 77,130 and 200-day EMA near 78,343 on the daily chart, keeping the broader trend bearish. The RSI has declined to around 33.40, reflecting weak momentum and proximity to the oversold zone.

He noted that 75,000–75,300 is likely to act as the key support zone, while 75,800–76,000 has emerged as the immediate resistance area. A sustained move above 76,000 could signal a meaningful recovery, while a decisive break below 75,000 may lead to further downside.

Nifty 50 Prediction

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the Nifty's downside momentum continued on Tuesday, with the index closing 144 points lower. However, broader markets and overall market breadth remained positive during the session.

According to Shetti, a long bearish candle was formed on the daily chart near the 23,600 support level, corresponding to the previous opening upside gap of June 15. However, there are no clear signs of an upside recovery from these support levels yet.

He said the underlying trend remains weak, although the index is positioned near crucial support around 23,600. A short-term bounce could emerge from the 23,600–23,500 zone, with 23,800 acting as the immediate resistance.

Bank Nifty Prediction

Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, said Bank Nifty witnessed a breakdown from its consolidation range on Tuesday, signalling a weakening price structure in the near term. The index closed at its lowest level since July 2026 and slipped below its 20-day, 50-day and 100-day EMAs, indicating increased selling pressure and giving bears the upper hand.

Shah said the 56,400–56,300 zone will serve as the immediate support for Bank Nifty. A sustained break below 56,300 could trigger further downside towards 55,800. On the upside, the 57,000–57,100 zone, which coincides with the 100-day EMA, is expected to act as an immediate hurdle.

As long as Bank Nifty remains below 57,000–57,100, the broader bias is expected to remain negative, he added.

Crude Oil

Oil prices climbed for a fourth consecutive session on Wednesday, rising more than $1 in early trade after Iran launched fresh attacks on US military assets in the Gulf, intensifying concerns that the ongoing conflict between Washington and Tehran could spread further across the region.

Brent crude futures rose $1.57, or 1.6%, to $99.49 a barrel by 0001 GMT, while US West Texas Intermediate (WTI) crude gained $1.60, or 1.72%, to $94.63 a barrel, according to a Reuters report.

Brent crude has surged around 25% since early August as hopes of a permanent resolution to the six-month-old conflict have faded and renewed fighting has heightened concerns over potential disruptions to regional oil supplies.

Gold

Gold prices edged lower on Wednesday as escalating tensions in the Middle East raised concerns about a potential increase in inflation, strengthening expectations that interest rates could remain elevated. Investors are also awaiting key US inflation data due later this week, according to a Reuters report.

Spot gold fell 0.1% to $4,349.44 per ounce as of 0040 GMT, while US gold futures for December delivery declined 1% to $4,393.30, 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 seven buy-or-sell stocks for intraday trading Lenskart Solutions Ltd, Laurus Labs Ltd, Godrej Consumer Products Ltd, NTPC Ltd, Siemens Energy India Ltd, Finolex Cables Ltd, and Precision Wires India Ltd.

Sumeet Bagadia's stock recommendations today

Buy Lenskart Solutions in cash at ₹696; stoploss at ₹671; target at ₹745

Buy Laurus Labs in cash at ₹1,947; stoploss at ₹1,878; target at ₹2,084

Ganesh Dongre's buy or sell stocks

Buy Godrej Consumer Products at ₹870; stoploss at ₹856; target at ₹895

Buy NTPC at ₹332; stoploss at ₹325; target at ₹345

Shiju Koothupalakkal's intraday stocks for today

Buy Siemens Energy India cmp: ₹3,200; Target: ₹3,370; Stop loss: ₹3,140

Buy Finolex Cables cmp: ₹1,302; Target: ₹1,365; Stop loss: ₹1,275

Buy Precision Wires India cmp: ₹480; Target: ₹507; Stop loss: ₹468

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.