Stock Market Today: Pressure on Sensex-Nifty; Impact of global cues, likely to start with decline
- Sensex and Nifty are likely to open lower as Gift Nifty is down around 159 points.
- Markets closed higher on Monday with Sensex settling at 77,269 and Nifty at 24,119.
- Experts have suggested buying opportunities in several stocks for investors today.
India Share Market Update: Major indices of the Indian stock market, Sensex and Nifty 50, are likely to open lower on May 5, predicting weak cues from global markets. Trends in Gift Nifty are also signaling a negative opening for the Indian benchmark index. Gift Nifty was trading at a level of 24,047, at a discount of nearly 159 points to the previous close of Nifty futures.
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On Monday, the Indian stock market closed with gains coming off the highs, with the benchmark Nifty 50 closing above the 24,100 level. The Sensex closed up 355.90 points, or 0.46 percent, at 77,269.40, while the Nifty 50 gained 121.75 points, or 0.51 percent, to settle at 24,119.30. On Monday, the Bank Nifty index closed up 15.15 points, or 0.03 per cent, at 54,878.50. (Photo Courtesy – AI Created)
Chandan Taparia, Head of Wealth Management, Derivatives and Technicals, Motilal Oswal Financial Services, today recommended the shares of Bharat Heavy Electricals Limited, Manappuram Finance and Polycab India to buy for investors. Raja Venkataraman, co-founder of NeoTrader and stock research platform MarketSmith India, has advised investors in the Indian stock market to buy five stocks. These include Insurance Corporation of India, Lodha Developers Limited, Sirma SGS Technology Limited, Linde India Limited and Jindal Steel Limited.
In today’s trade, investors can focus more on L&T, M&M, Hero MotoCorp, Koforge, Tata Technologies, Manappuram Finance, Indigo, Reliance Industries, Delhivari, Wockhardt, Jindal Stainless, KEI Industries, Petronet LNG. Vaishali Parekh, Vice President, Technical Research, Prabhudas Lilladhar, has selected three stocks to buy and sell for investors dealing in the Indian stock market today. His picks include Vishal Mega Mart, Jio Financial Services, Belrise Industries.
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Sumeet Bagdia, Executive Director, Choice Broking, has recommended buying five shares for purchase on May 5. Among the stocks he recommends are Cholamandalam Investment and Fin Company, Nesco, Shivalik Bimetal Controls, Shipping Corporation of India and General Insurance Corporation of India.
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