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

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. 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. 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. 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. 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. 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. 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.