Analysts suggest a negative market opening on April 23, with geopolitical concerns and high oil prices impacting investor sentiment.(AP)AI Quick ReadStocks to buy on 23 April: The domestic benchmark indices finished lower on Wednesday, April 22, weighed down by significant selling in IT stocks and increasing crude oil prices against the backdrop of ongoing global uncertainty related to tensions between the United States and Iran.
The Nifty 50 index closed at 24,378.10, dropping by 198.50 points, or 0.81%, while the BSE Sensex concluded the day at 78,516.49, down by 756.84 points, or 0.95%.
Market sentiment continued to be under strain due to a mix of global and domestic elements, such as high oil prices, geopolitical unrest, and withdrawals by foreign investors.
The Gift Nifty Live Chart is showing a negative start for the Indian stock market today. By 7:29 AM, the Gift Nifty was trading around the 24,459 level, a discount of 178 points from the Nifty futures’ previous close of 24,381.20.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth, said that Indian markets are expected to begin today’s session on a negative note, with Gift Nifty indicating a soft opening around the 24,250 zone. While global cues remain somewhat mixed, the underlying tone has turned cautious, as investors grapple with rising geopolitical tensions, elevated crude oil prices, and a crucial phase of the earnings season.
The primary overhang continues to be geopolitical developments in the Middle East. Recent escalation in the US–Iran situation, including reports of naval confrontations and renewed warnings of potential strikes, has significantly increased uncertainty. The risk surrounding the Strait of Hormuz—a critical global energy corridor—has pushed Brent crude prices above the $100 per barrel mark. For an import-dependent economy like India, sustained elevated oil prices pose a direct risk to inflation, currency resilience, and corporate margins, thereby capping upside in equities.
Global cues present a mixed picture. While US markets have shown resilience, supported by strong earnings and extended ceasefire arrangements, signs of profit booking in futures indicate some fatigue at higher levels. Asian markets, despite intermittent strength in regions like Japan, are largely reflecting caution, with weakness emerging in select indices such as South Korea’s Kospi. This divergence highlights a fragile global risk sentiment, where optimism is being tempered by geopolitical uncertainty.
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares - SJVN Ltd, Sterling and Wilson Renewable Energy Ltd, Triveni Engineering & Industries Ltd, Anthem Biosciences Ltd, and Rishabh Instruments Ltd.
Best stocks to buy today (All Buy trades are rates of Equity & Sell rates are based on F&O)
Why it’s recommended: SJVN Ltd, formerly Satluj Jal Vidyut Nigam, is a prominent Indian public sector undertaking (Navratna) focused on hydroelectric power. The stock has been declining for the past 9 months. A strong thrust above the cloud region indicates fresh buying. A Kumo cross also suggests that the bullish signatures have emerged, inviting us to go long. Strong breakout beyond TS and KS on the daily charts is fueling a new move.
52-week high: ₹107.50,
Technical analysis: Support at ₹75 | Resistance at ₹125.
Risk factors: Key risks include potential time/cost overruns in major projects, low Return on Capital Employed (ROCE) (~3.8%-4.08%), declining net profits, and forex fluctuations from foreign currency debt (USD/JPY).
Target price: ₹91 (2 months)
Why it’s recommended: Sterling and Wilson Renewable Energy Ltd refers to Sterling and Wilson Renewable Energy Limited (formerly Sterling and Wilson Solar Ltd), a global provider of solar engineering, procurement, and construction (EPC) solutions. The stock demonstrated a V-shaped recovery and has been generating strong demand on every intraday decline. SWSOLAR has secured major orders worth ₹3,550 crore, including a significant 875MW solar project from Coal India in Rajasthan. A strong recovery and positive newsflow augur well for prices. A strong, long-body candle breakout seen on Monday has now opened a new trend possibility. Buy.
52-week high: ₹348.90,
Technical analysis: Support at ₹201 | Resistance at ₹265.
Risk factors: Climatic volatility, intense competition, project execution challenges, and margin pressures.
Target price: ₹241 (two months)
Why it’s recommended: Triveni Engineering & Industries Ltd is a diversified Indian conglomerate and a major player in the sugar and ethanol sectors. There has been rampant volatility, with prices swinging quite rapidly over the last six months. The strong thrust on Wednesday above the recent set of resistances has once again ignited some bullish possibilities in the counter. As we can observe, after a long period of consolidation in the TS & KS bands, a sharp rise has occurred over the last few trading sessions, highlighting further upside potential. The strong charge, seen alongside a rise in positive DI, suggests the possibility of more upward traction.
52-week high: ₹468.20
Technical analysis: Support at ₹380 | Resistance at ₹478.
Risk factors: Heavy dependence on government policies, climatic impacts on sugarcane availability, and fluctuations in sugar prices.
Why it’s recommended: Strong CRDMO business model, growing global pharma outsourcing demand, diversified client base, presence in high-margin biologics segment, consistent revenue growth track record, healthy operating margins, strong R&D capabilities, long-term contracts with clients, export-driven revenue mix, and experienced management team
Key metrics: P/E: 98.66, 52-week high: ₹873.50, volume: ₹31.14 crore
Technical analysis: Cup-with-handle base breakout
Risk factors: High dependence on global clients, regulatory compliance risks, currency fluctuation impact, client concentration risk, pricing pressure in outsourcing, high competition in the CRDMO space, execution delays in projects, capex-intensive expansion, talent retention challenges, and geopolitical risks affecting exports
Target price: ₹860 in two to three months
Why it’s recommended: Diversified electrical & measurement product portfolio, presence in global markets (exports + subsidiaries), strong manufacturing & engineering capabilities, Improving EBITDA and profitability growth, low debt levels / improving balance sheet, long operating history (since 1982), exposure to industrial & energy sectors, in-house product development & R&D, increasing net worth and assets growth, and multi-product revenue streams
Key metrics: P/E:20.98, 52-week high: ₹1,514.85, volume: ₹26.75 crore
Technical analysis: Consolidation base breakout
Risk factors: Moderate revenue growth trajectory, declining margins in recent years, cyclical industrial demand exposure, high competition in the electrical equipment space, dependence on global economic conditions, limited pricing power in commoditized products, working capital-intensive business, forex risk due to exports, execution risk in overseas subsidiaries, and volatility in raw material costs.hcl
Target price: ₹580 in two to three months
Disclaimer: This story is for educational purposes only. 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.
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