Stock Market Update: Nifty 50 Trade Setup, Global Cues, and 8 Stocks on Radar Today

The supports on the downside at 25,000 and 24,930 could be the areas to look out for Nifty 50 trade setup. Stock market today participants would hope to stay above these support levels to keep the positive momentum intact.

On the other hand, Bank Nifty lost 0.30% to close at 55,698.50 on Wednesday as Pharma too became a key loser for the day. The sectors that led the rally were IT, Realty and FMCG; while the mid- and small-cap stocks to buy Thursday of 0.3% to 0.46%. “On Bank Nifty, our key supports are at 55,000 and 54,800,” said a Bajaj Broking report.

US Fed minutes stocks

Minutes from the US Federal Reserve’s July meeting showed that most officials thought risks to inflation were greater than to employment, a sign of the central bank’s ongoing split. Policymakers at the meeting discussed the challenges for both sides of the Fed’s dual mandate to maintain price stability and achieve maximum Trump tariffs market impact as they considered the timing of a possible interest rate adjustment.

Outlook on Global Markets

“India’s near-term market outlook is constructive as the recent policy measures provide the required support and the on-ground consumption has improved for a few months now. However, all eyes are on global cues, sectoral action, and upcoming Indian stock market update that will provide a reading on whether the recent momentum is sustainable or not. The India and US Manufacturing and Services PMI data, both due on Thursday, will be a crucial watch-out,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Intraday Picks

Experts have recommended the following stocks for intraday trading on Thursday:

• Tata Consultancy Services Ltd.
• Vimta Labs Ltd.
• Cyient Ltd.
• Tata Steel Ltd.
• Gokul Agro Resources Ltd.
• Mangalore Chemicals & Fertilizers Ltd.
• Tourism Finance Corporation of India Ltd.
• India Pesticides Ltd.