2 weeks ago
Gift Nifty hints muted start; eight trading stocks to buy
On Friday, the stock market in India is expected to start quietly, with prices likely to open a little lower.
The Gift Nifty is a signal that helps people guess how the Indian market will open, and it pointed slightly downward.
The day before, the Sensex went up a little, while the Nifty 50 went down a little.
Oil prices went up because the United States said it could keep its naval blockade of Iran going for as long as needed.
A blockade means keeping ships from moving, and that makes people worry that getting oil will become harder.
US Defence Secretary Pete Hegseth said the Navy can keep the blockade going by rotating its ships in and out of the region.
Gold prices stayed about the same, just below $4,400 an ounce.
Meanwhile, in the United States, the S&P 500 finished at its highest level ever after new inflation news came in softer than expected.
Many experts say investors should be careful for now and that stock prices may move within a narrow range.
India's Sensex and Nifty 50 are likely to open lower on Friday, 14 August, after the Gift Nifty signalled a muted start, trading around 24,439, a discount of about 29 points to Nifty futures.
In the previous session, the Sensex gained 113.61 points, or 0.15%, to settle at 78,079.96, while the Nifty 50 fell 40.10 points, or 0.16%, to close at 24,395.85.
Oil prices edged higher after the US said it could maintain its naval blockade of Iran indefinitely, with Brent crude at $87.16 and WTI at $81.29 a barrel, as ceasefire talks remain stalled.
US Defence Secretary Pete Hegseth said the US Navy could sustain the blockade indefinitely by rotating ships, while gold held below $4,400 an ounce and the S&P 500 closed at a record high overnight.
Analysts recommended day trading stocks for Friday, including Raymond, SG Mart, BEL, Motilal Oswal Financial Services, Indigo, Black Box, Anant Raj and Greaves Cotton.
- Who
- Indian equity investors and traders; US Defence Secretary Pete Hegseth; market analysts including Ponmudi R of Enrich Money and Ajit Mishra of Religare Broking.
- What
- Sensex and Nifty 50 are expected to open lower on Friday, 14 August, with the Gift Nifty signalling a muted start, as the US says it can maintain its naval blockade of Iran indefinitely.
- Where
- Indian stock markets, amid the US-Iran standoff affecting Middle East oil supplies.
- When
- Friday, 14 August.
- Why
- Mixed global cues, cautious investor sentiment, stalled Iranian ceasefire talks and elevated crude oil prices are weighing on markets.
Key facts
- Gift Nifty signal
- Trading around 24,439, a discount of 29 points to the Nifty futures close
- Sensex previous close
- 78,079.96, up 113.61 points (0.15%)
- Nifty 50 previous close
- 24,395.85, down 40.10 points (0.16%)
- Brent crude
- $87.16 per barrel, up 0.1%
- WTI crude
- $81.29 per barrel, up 4 cents
- Gold price
- Largely unchanged, below $4,400 an ounce; on track for a second consecutive weekly gain
- Jackson Hole symposium
- Fed Chair Kevin Warsh to speak at the central bank's annual symposium later this month; markets price roughly a one-in-three chance of a September rate hike
- Key support and resistance
- Nifty 50 support at 24,350; Bank Nifty support at 57,500-57,400 and resistance at 57,800-58,000
Quotes
Ajit Mishra
Senior Vice President, Research at Religare Broking
“Indian equity markets are expected to trade with a cautious bias, with investors likely to remain selective despite an improvement in global risk appetite”
livemint.com
“the 24,350 support zone remains crucial, with bulls making efforts to defend this level and prevent further deterioration in the near‑term structure”
livemint.com
Sources
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