GIFT Nifty Opening Update
GIFT Nifty opened today at 24,064.50. It is up 25.50 points (0.11%) from yesterday’s close of 24,045.00— so the trend is positive.
The Indian stock market benchmarks, namely the Sensex and Nifty 50, concluded the trading session on Monday, May 4, with gains. Both indices experienced a rise exceeding 1% during the session, yet their gains were moderated by profit-taking as crude oil prices increased by over 1%. The 30-share Sensex concluded the trading session with an increase of 356 points, representing a rise of 0.46%, closing at 77,269.40. Meanwhile, the NSE benchmark Nifty 50 saw an uptick of 122 points, or 0.51%, finishing at 24,119.30. “Indian equity markets are likely to trade with a cautious bias, as renewed tensions between U.S. and Iranian forces weigh on investor sentiment. Brent crude remains elevated in the $104–107 range, sustaining concerns around potential supply disruptions and reinforcing inflationary pressures. While the outcome of recent state assembly elections and fresh data indicating foreign portfolio investors have turned net buyers of domestic equities offer some measure of support, the broader mood remains one of restraint. Geopolitical uncertainty and prevailing global risk aversion continue to dominate sentiment, limiting the scope for a sustained upside in the near term,” said Ponmudi R.
With the market indicating a negative opening, certain stocks are expected to attract attention on Tuesday, influenced by their individual positive or negative catalysts. In light of current circumstances, the following are the ten stocks that are expected to attract attention on Tuesday, 5 May –
Equities to Monitor:
- Larsen & Toubro, Mahindra & Mahindra, Hero Motocorp, and Coforge are set to capture attention as these firms announce their Q4 results today.
- Tata Technologies exhibited a consistent performance in the March quarter, demonstrating robust growth in both revenue and profit, despite a year-on-year contraction in margins. Net profit rose by 8.1% to Rs 204 crore, compared to Rs 189 crore in the same period last year.
- Manappuram Finance reported a consolidated net profit of Rs 404 crore in the fourth quarter, marking a turnaround from a loss of Rs 191 crore in the same period last year.
- IndiGo has appointed Jochen Hoesch, previously the head of artificial intelligence at Airbus, to lead its AI, data, and analytics functions. The recent hiring aligns with the trend in India’s aviation sector, which is increasingly adopting AI to enhance efficiency, especially in the context of mounting cost pressures, including high jet fuel prices.
- Reliance Industries is scaling back alkylate production and reallocating feedstock to enhance liquefied petroleum gas (LPG) output, responding to cooking fuel shortages that have arisen due to the conflict in Iran, the company announced on Monday.
- Delhivery – The NRC has sanctioned the allocation of 100,360 stock options under the ESOP 2012 scheme to qualified employees, with an exercise price set at Re. 1 per share, effective May 1, 2026.
- Wockhardtachieved a notable turnaround in its March quarter performance, posting a net profit of Rs 164 crore compared to a loss of Rs 45 crore in the same period last year.
- Jindal Stainless – The nation’s foremost stainless steel manufacturer announced a 43% year-on-year rise in consolidated net profit for the fourth quarter, totaling Rs 844 crore, compared to Rs 591 crore during the same period last year.
- KEI Industries demonstrated a robust performance in the March quarter, achieving double-digit growth across essential financial metrics, bolstered by significant demand in its cables and wires segment.
- Petronet LNG reported a strong quarter-on-quarter performance for the March quarter on April 4, with profits increasing significantly despite a decline in revenue.