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Stocks to buy on 5 May: The benchmark indices ended higher on Monday, 4 May supported by gains in blue-chip stocks and state election outcomes that largely matched market expectations, boosting investor sentiment.
The 30-share BSE Sensex rose 355.90 points, or 0.46%, to close at 77,269.40, after surging as much as 997.25 points, or 1.29%, to an intraday high of 77,910.75. Meanwhile, the 50-share Nifty 50 advanced 121.75 points, or 0.51%, to settle at 24,119.30.
Experts believe that the BJP's victories in three of five assembly elections are likely to reinforce perceptions of political stability and lift market sentiment. They also pointed to record GST collections and stronger-than-expected auto sales growth as indicators of resilient underlying demand in the economy.
The Gift Nifty Live Chart is showing a muted start for the Indian stock market today. By 7:32 AM, the Gift Nifty was trading around the 24,076 level, a discount of 130 points from the Nifty futures’ previous close of 24,206.
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 the Nifty 50 is likely to begin the session on a cautious note, with early indicators pointing to a flat-to-negative opening. Gift Nifty is hovering around the 24,000 mark, suggesting limited upside after the recent recovery and a market that may consolidate before its next directional move.
Global cues remain fragile. U.S. markets saw sharp selling pressure, with the Dow correcting sharply as crude oil surged amid renewed geopolitical concerns over the Strait of Hormuz. Elevated oil prices, still above $100, continue to pose a macro risk for India, given its import dependence. Sustained strength in crude could weigh on inflation expectations and corporate margins, keeping risk appetite in check.
At the same time, there are offsetting domestic positives. Political clarity following state election outcomes has improved sentiment in infrastructure and PSU-linked names, while early signs of FII stabilisation after April’s outflows could lend incremental support if the trend sustains.
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares - General Insurance Corporation of India, Lodha Developers Ltd, Syrma SGS Technology Ltd, Linde India Ltd, and Jindal Steel Ltd.
Why it’s recommended: General Insurance Corporation of India (GIC Re), the dominant domestic reinsurer and a major global player, has reclaimed its momentum after a seven-month decline. After trading above its value area throughout early 2026, prices revived in late April. This reversal gained traction on Wednesday following earnings results, with the stock finding steady support at the TS and KS bands. Despite broader market volatility, a strong "long body" candle in the previous session indicates genuine buying interest. Go long.
Technical analysis: Support at ₹390, resistance at ₹540
Risk factors: High valuation concerns, customer loss, project delays, or US-specific macroeconomic issues.
Why it’s recommended: Lodha is seeing a technical revival in its stock. Supported by the TS and KS bands, the price has broken out above the "cloud" region to complete a bullish rounding pattern. A strong long-bodied candle suggests further upside if market momentum remains positive. Additionally, a rising DI indicator confirms a buying opportunity. Recommendation: Go long now.
Technical analysis: Support at ₹1,100, resistance at ₹1,400
Risk factors: Diversified but cyclical business segments and heavy reliance on government policies.
Why it’s recommended: Syrma SGS Technology Limited, a leading Indian Engineering and Electronics Manufacturing Services (EMS) provider, has exhibited a consistent uptrend since March 2026. This move is supported by steady volume growth and a rising RSI, suggesting that bullish momentum remains intact. A decisive break above the ₹900 level serves as a primary entry signal. Recommendation: Go long.
Technical analysis: Support at ₹915, resistance at ₹1,150
Risk factors: High reliance on imported natural gas, volatility in raw material prices, regulatory changes and intense competition from imported products.
Why it’s recommended: Strong parentage (Linde Plc backing), market leader in industrial gases, stable demand from core sectors, high entry barriers, long-term contracts business model, consistent cash flow generation, expansion in healthcare & electronics gases, strong balance sheet, and pricing power in niche segments
Key metrics: P/E: 116.78, 52-week high: ₹7,870.00, volume: ₹105.08 crore
Technical analysis: Cup-with-handle base breakout
Risk factors: High dependence on industrial cycle, capex-intensive business, margin pressure from input costs (energy), client concentration risk, slow volume growth in downturns, regulatory & safety risks, currency fluctuation impact, competition from global/local players, and valuation may remain expensive
Target price: ₹8,600 in two to three months
Why it’s recommended: Integrated steel + mining operations, strong capacity expansion pipeline, improving raw material security (coal blocks), beneficiary of infra & capex cycle in India, diversified product portfolio, export presence + global footprint, operating leverage in upcycle, and low debt compared to peers
Key metrics: P/E:26.93, 52-week high: ₹1,306.20, volume: ₹522.62 crore
Risk factors: Highly cyclical steel industry, earnings volatility & price fluctuations, weak profitability ratios (low ROE), high capex → execution risk, dependence on economic growth, margin pressure from input/energy costs, competition (domestic + global), valuation can remain expensive
Target price: ₹1,410 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.
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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