
Stock recommendations for 6 May from MarketSmith India
Subscribe to enjoy similar stories.Stock market recap: Indian equity markets ended Tuesday’s session on a cautious note, with the Nifty 50 declining 0.36% to settle at 24,032.80. The index saw volatile consolidation through the day, moving between an intraday low of 23,882.05 and a high of 24,081.70.Market breadth was mildly negative, with 1,604 stocks advancing against 1,680 declining, indicating a broadly balanced but slightly bearish undertone.Sectoral performance was mixed.
Nifty FMCG (+0.64%) and Nifty Auto (+0.63%) provided defensive support, while losses in Nifty Realty (-1.41%) and Private Banks (-0.67%) weighed on the benchmark indices.Technically, the Nifty continues to hover near the psychological 24,000 level, which remains a key near-term support zone. Resistance is placed at 24,200.
Overall sentiment suggests a “wait-and-watch” approach among investors, likely influenced by global macroeconomic cues and the absence of fresh domestic triggers. Sustained moves above key moving averages will be important for any meaningful bullish reversal in the coming sessions.Buy: Netweb Technologies India Ltd (current price: ₹4,178)Buy: Lloyds Engineering Works Ltd (current price: ₹59.54)Nifty 50 performance on 5 MayIndian equities ended on a subdued note on 5 May, with the Nifty 50 slipping 0.36% (-86.5 points) to close at 24,032.8, reflecting cautious sentiment.
The index traded in a narrow range after a weak start, with intermittent recovery attempts failing to sustain above the 24,100 mark, signalling near-term resistance.Market breadth remained negative, with 1,680 declines versus 1,604 advances, pointing to underlying fragility despite selective buying. Sectoral performance was mixed: FMCG, auto and pharma offered
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