Stock market today: Gift Nifty hints a flat start; eight day trading stocks to buy on Wednesday, 12 August | Stock Market News

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a flat note on Wednesday, 12 August, amid mixed global cues.

The Gift Nifty also indicated a muted start for the domestic benchmark indices. The Gift Nifty was trading around 24,550.5, a premium of 10 points over the previous close of Nifty futures.

On Tuesday, the Indian stock market ended lower, with the Nifty 50 closing below the 24,500 mark. The Sensex declined 388.19 points, or 0.49%, to settle at 78,154.25, while the Nifty 50 fell 112.10 points, or 0.46%, to close at 24,471.70.

Oil prices climbed on Wednesday as uncertainty over a potential US-Iran peace agreement increased, while attacks on two vessels raised concerns over possible disruptions to oil supplies from the Middle East. The gains came despite industry data pointing to a rise in US crude inventories.

Brent crude futures rose 72 cents, or 0.81%, to $89.63 a barrel, while US West Texas Intermediate (WTI) crude futures advanced 71 cents, or 0.85%, to $83.91 a barrel.

Both benchmarks ended more than $1 higher in the previous session, reaching their highest closing levels since July 31. The gains followed a nearly 5% surge on Monday as optimism over a potential peace agreement between the US and Iran weakened.

The United States and Iran-aligned Houthi forces in Yemen reported separate attacks on shipping vessels in the Strait of Hormuz and the Bab el-Mandeb Strait on Tuesday, adding to concerns over the security of key oil supply routes.

Meanwhile, Iran’s top security official, Mohsen Rezaei, said the strategically important Strait of Hormuz would remain closed until Washington agreed to Tehran’s conditions for ending the war. These demands include the unfreezing of Iranian assets and an end to other conflicts across the region.

The Gift Nifty Live Chart shows a flat start for the Indian stock market today. By 8:08 AM, the Gift Nifty was trading around the 24,563 level, a premium of 22.5 points from the Nifty futures’ previous close of 24,540.50.

Ponmudi R, CEO of Enrich Money, said, Indian equity markets are expected to trade with a cautious undertone as persistent uncertainty surrounding the U.S.-Iran negotiations continues to weigh on investor sentiment. Overnight cues from Wall Street were subdued, with the S&P 500 and Dow Jones Industrial Average each declining about 0.3%, while the Nasdaq Composite slipped 0.6%, as investors turned cautious ahead of Wednesday's U.S. consumer price inflation data and amid the continuing stalemate between Washington and Tehran over the reopening of the Strait of Hormuz.

Reflecting the mixed global backdrop, GIFT Nifty futures are trading just above the 24,500 mark, compared with the Nifty's previous close of 24,471, indicating a flat-to-mildly positive start for domestic equities.

Asian markets are trading mixed, with Japan's Nikkei 225 edging marginally lower, while South Korea's Kospi is up more than 2% in early trade, providing some support to regional sentiment. Even so, elevated crude oil prices, lingering geopolitical uncertainty, and mixed global cues are likely to keep investors cautious.

Speaking on the outlook for the Nifty 50 today, Ajit Mishra, Senior Vice President, Research at Religare Broking, said the Nifty 50 is approaching its crucial long-term moving-average support, with the 200 DEMA currently placed around 24,350. A sustained break below this level could extend the correction towards 24,100–24,000. On the upside, 24,600 is likely to act as the immediate hurdle, followed by the 24,800–25,000 zone.

On the outlook for the Bank Nifty today, Ponmudi R, CEO of Enrich Money, believes Bank Nifty is expected to stay cautious, having recently broken down below its 20-day EMA amid continued selling pressure. The 57,500–57,600 zone now stands as the immediate resistance. A sustained recovery above 57,600 would help the index regain momentum and move towards the 58,000 mark.

On the downside, 57,200 remains the immediate support, and a decisive break below this level could expose the index to the 57,000–56,800 region.

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: Ather Energy Ltd, Anthem Biosciences Ltd, Jindal Steel Ltd, Motilal Oswal Financial Services Ltd, Oberoi Realty Ltd, GE Vernova T&D India Ltd, Pine Labs Ltd, and Dynamic Cables Ltd.

Buy Ather Energy in cash at ₹1,525; SL at ₹1,470; TGT at ₹1,630

Buy Anthem Biosciences in cash at ₹892; SL at ₹860; TGT at ₹955

Buy Jindal Steel at ₹1,095; sl at ₹1,070; tgt at ₹1,130

Buy Motilal Oswal Financial Services at ₹888; sl at ₹865; tgt at ₹925

Buy Oberoi Realty at ₹1,795; sl at ₹1,750; tgt at ₹1,860

Buy GE Vernova T&D India cmp: ₹4,420; Target: ₹4,700; Stop loss: ₹4,280

Buy Pine Labs cmp: ₹167; Target: ₹180; Stop loss: ₹163

Buy Dynamic Cables cmp: ₹441; Target: ₹465; Stop loss: ₹430

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.

Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.

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