Stocks to buy on 6 May: The key indices, Sensex and Nifty 50, finished in negative territory on Tuesday, 5 May, primarily due to profit-taking in certain leading banking and financial stocks.
The 30-share index Sensex concluded the day at 77,017.79, down by 252 points, or 0.33%, while the NSE benchmark Nifty 50 closed at 24,032.80, falling by 87 points, or 0.36%.
On the other hand, the mid- and small-cap indices posted gains, surpassing the main indices’ performance. The BSE 150 Midcap rose by 0.15%, while the BSE 250 Smallcap index increased by 0.20%.
Due to the positive movement in the wider markets, the total market capitalisation of companies listed on the BSE remained steady at ₹467 lakh crore.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a positive start for the Indian stock market today. By 7:29 AM, the Gift Nifty was trading around the 24,299.5 level, a premium of 193.2 points from the Nifty futures’ previous close of 24,106.30.
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 set to open on a positive note, supported by firm global cues and early signals from Gift Nifty, which is trading around the 24,200 mark. The constructive setup follows a strong close on Wall Street, where the S&P 500 scaled fresh record highs, aided by easing crude oil prices and encouraging corporate earnings.
Global sentiment has also improved on signs of de-escalation in the Middle East, which has helped cool oil prices and lifted risk appetite across Asian markets. Notably, South Korea’s benchmark index has surged to record levels, reflecting a broader risk-on environment that could spill over into domestic equities.
Back home, attention will increasingly shift toward the ongoing earnings season. Key results from capital goods major Larsen & Toubro, auto leaders Mahindra & Mahindra and Hero MotoCorp, along with banking major Punjab National Bank, are expected to drive sector-specific momentum and influence broader market direction.
Stocks to buy today
Regarding stocks to buy today — Raja Venkatraman is Co-founder of NeoTrader, and stock research platform MarketSmith India, recommended buying these five shares – Aditya Birla Capital Ltd, Aurobindo Pharma Ltd, Finolex Cables Ltd, Netweb Technologies India Ltd, and Lloyds Engineering Works Ltd.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Aditya Birla Capital Ltd (Cmp ₹360.85)
Aditya Birla Capital Ltd: Buy above ₹363, stop ₹340 target ₹405 (Multiday)
Why it’s recommended: Aditya Birla Capital Limited (ABCL) is the financial services flagship of the US$ 67 billion Aditya Birla Group operating as a holding company for various financial services businesses. After spending nearly 3 months in a declining phase the stock lost all its sheen. In the recent revival a sharp thrust above the value area the all through the year 2026 and in last few days in April 2026 the prices revived. The steady support at the TS & KS bands and the reversal gathered steam on Wednesday post the results. A promising long body candle to end the previous trading session despite some market sell off indicates some genuine buying interest. Go long.
Key metrics:
P/E Ratio : 8.63
Technical analysis: Support at ₹325, resistance at ₹440.
Risk factors: Diversified financial services conglomerate, ranging from credit quality challenges to regulatory changes.
Target price: ₹405 (2 Months)
Aurobindo Pharma Ltd (Cmp ₹1,428.10)
Aurobindo Pharma Ltd: Buy above ₹1,430, stop ₹1,390 target ₹1,550 (Multiday)
Why it’s recommended: Auropharma is a prominent, integrated global pharmaceutical company specializing in generic formulations, Active Pharmaceutical Ingredients (APIs), and specialty drugs. After the recent reaction we can note that the strong thrust with support from the TS & KS bands has led to a strong breakout above the cloud region forming a nice rounding pattern revival. A strong long body candle augurs well for some upside if market retains some positive momentum. A rise in the DI indicates that we can look to initiate a long opportunity here for a push to higher levels. Go long now.
52-week high: ₹1,459.75,
Technical analysis: Support at ₹1,250, resistance at ₹1,600.
Risk factors: Heavy dependence on the U.S. market, regulatory compliance, and pricing pressures.
Target price: ₹1,550 (2 Months)
Finolex Cables Ltd(Cmp ₹1,054.95)
Finolex Cables Ltd: Buy above ₹1,060, stop ₹1,020 target ₹1,150 (Multiday)
Why it’s recommended: Finolex Cables Limited, is a premier manufacturer of electrical and telecommunication cables, widely recognized for its market leadership in the Indian wire and cable industry. The steady rise since April 2026 reaction that took support at the cloud region has seen steady increase in volumes combined with the rising RSI indicating that there is no sign of let up in momentum. A break above 980 was a key event that is now initiating us to go long.
Key metrics:
P/E Ratio: 26.26
52-week high: ₹1,028.42
Technical analysis: Support at ₹915, resistance at ₹1,225.
Risk factors: Raw material price volatility, currency fluctuation and slowdown in communication cables.
Two stock recommendations by MarketSmith India
Buy: Netweb Technologies India Ltd (current price: ₹4,178)
Why it’s recommended: Strong positioning in HPC, AI & data centre solutions, beneficiary of rising demand for AI/cloud infrastructure, healthy revenue & profit growth track record, high-margin business model vs typical IT hardware firms, strong order book and client base (govt + enterprises), Make-in-India & PLI scheme tailwinds, increasing focus on indigenous supercomputing, and asset-light, design-led business approach
Key metrics: P/E: 108.66, 52-week high: ₹4,479.00, volume: ₹1,259.85 crore
Technical analysis: Trendline breakout
Risk factors: High dependence on government orders, lumpy order inflows impacting consistency, rapid tech obsolescence risk, competition from global OEMs (including Dell and HPE), supply chain dependency (imported components), currency fluctuation impact on margins, limited long-term operating history at scale, valuation may be on the higher side
Target price: ₹4,900 in two to three months
Buy: Lloyds Engineering Works Ltd (current price: ₹59.54)
Why it’s recommended: Strong presence in heavy engineering & EPC segments, diversified sectors (oil & gas, steel, power, nuclear, and marine), beneficiary of infra & capex cycle in India, turnkey project execution capability, healthy revenue growth trend, expansion into defence & new segments, long operating history & established client base, certifications & technical capabilities (entry barriers)
Key metrics: P/E: 58.74, 52-week high: ₹84.27, volume: ₹93.65 crore
Technical analysis: Reclaimed 200-DMA on above average volume
Risk factors: Cyclical nature of capital goods industry, high dependence on order inflows (lumpy revenue), execution delays can impact margins, exposure to commodity price volatility, working capital-intensive business, competition from large EPC/engineering players, margin pressure in turnkey projects, valuation may factor in future growth
Target price: ₹67.00 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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