GIFT Nifty Opening Update
GIFT Nifty opened today at 24,221.00. It is up 175.00 points (0.73%) from yesterday’s close of 24,109.50— so the trend is positive.
The Indian stock market experienced a decline on Tuesday, 5 May, as the Nifty 50 fell beneath the 24,100 threshold. The Sensex experienced a decrease of 251.61 points, representing a decline of 0.33%, closing at 77,017.79. Meanwhile, the Nifty 50 saw a drop of 86.50 points, equivalent to 0.36%, finishing at 24,032.80. Nevertheless, the market appears poised to end its downward trend, as indications from the Gift Nifty index suggest a favorable start on Wednesday. Gift Nifty was positioned around the 24,322 level, reflecting a decline of more than 216 points compared to the prior close of Nifty futures. “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,” said Hariprasad K.
With the market indicating a downward trend, certain stocks are expected to attract attention on Wednesday, driven by their individual positive or negative catalysts. Bajaj Auto, Meesho, Paytm, KPIT Technologies, Shree Cements, and Radico Khaitan are set to capture attention as these companies announce their Q4 results today. In light of current developments, here are the top 10 stocks to watch on Wednesday, 6 May –
Equities to Monitor:
- Larsen & Toubro reported a 3% year-on-year decrease in its consolidated net profit, which amounted to Rs 5,326 crore for the fourth quarter, a decline from Rs 5,497 crore in the corresponding period last year.
- Marico demonstrated a solid performance for the March quarter on Tuesday, fueled by significant volume growth in its domestic operations and continued strength in international markets, despite the pressure of increased input costs on margins. The board has put forward a proposal for a final dividend of Rs 4 per equity share for FY26.
- Poonwalla Fincorp reported a profit after tax of Rs 255 crore for the quarter ending March 2026, an increase from Rs 150 crore in the December quarter, indicating a sequential growth of 70%.
- Hero Motocorp demonstrated robust performance for the March quarter, exceeding market expectations on critical metrics, fueled by significant volume growth and a refined product mix.
- KEC International has secured new contracts amounting to Rs 1,002 crore across multiple business sectors, as stated in a press release dated May 5.
- Biocon – Kiran Mazumdar-Shaw has appointed her niece, Claire Mazumdar (pictured), as her successor at Biocon. In a recent update on X, she confirmed that she will continue to lead the company for the time being, with a gradual transition planned ahead.
- Coforge – The merger with Cigniti Technologies is set to be implemented upon the filing of the NCLT order. The consolidation is anticipated to enhance scale and capabilities, with the record date for the share swap to be disclosed in due time.
- Vikran Engineering – The establishment of Vikran Renewable as a wholly owned subsidiary signifies a strategic initiative by the company to concentrate on solar and integrated energy projects, highlighting its commitment to the renewable energy sector.
- United Breweries reported a net profit of Rs 101.7 crore in the fourth quarter, an increase from Rs 97.4 crore in the same period last year, indicating a year-on-year growth of 4.4%.