Buy or sell stocks, 4 May 2026: Following the adverse global market sentiments, the Indian stock market witnessed sharp selling on Thursday. The Nifty 50 index crashed 180 points and closed at 23,997. The BSE Sensex nosedived 582 points and closed at 76,913, while the Bank Nifty index finished 540 points lower at 54,863.
The sell-off was broad-based, with several sectors ending in the red—led by metals, realty, and FMCG— while IT showed relative strength. Broader markets also mirrored the weakness, with midcap and smallcap indices declining around 0.4–0.8%, indicating widespread risk aversion.
What Gift Nifty signals?
The Gift Nifty is trading green with a sizeable gains against the previous session’s close. Gift Nifty today opened upside at 24,251 and touched an intraday high of 24,293 within a few minutes of the Opening Bell. By 7:10 AM, the index was trading around 100 points higher at 24,250.
Stock market today
Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, believes that Dalal Street bias is cautious. The Prabhudas Lilladher expert said the Nifty 50 index is trading in 23,800 to 24,300 range. Bullish or bearish trend can be assumed on the breakage of either side of this range. However, Parekh predicted positive opening on Dalal Street as market is estimating BJP’s victory in the West Bengal Election Results today and a better performance in other State Election Results.
Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said the index ended red just near the 24,000 zone with bias and sentiment maintained with a cautious approach awaiting the election result in the coming session. As mentioned earlier, the index is currently hovering between the crucial band of 24300 and 23800 levels for the time being and would need a decisive breach on either side to get clarity for a directional move in the coming days.
On the outlook of the Bank Nifty today, Parekh said the index crashed below the 55,300 zone with a negative opening hitting the low near the near-term support zone at 54,400 level and thereafter, with a recovery witnessed closed the session near 54,850 zone forming a doji pattern on the daily chart with bias precariously placed as of now.
“As mentioned earlier, the important support at 53,500 levels shall be the crucial zone which needs to be sustained in the coming sessions whereas on the upside, the 200-period MA at 57,300 level would be the important hurdle, which needs to be breached above decisively,” said Parekh.
Vaishali Parekh’s stock recommendations for today
Regarding , Vaishali Parekh recommended these three : Thirumalai Chemicals, CESC, and Bharat Dynamics.
1] Thirumalai Chemicals: Buy at ₹200, Target ₹210, Stop Loss ₹197;
2] CESC: Buy at ₹185, Target ₹195, Stop Loss ₹180; and
3] Bharat Dynamics: Buy at ₹1364, Target ₹1390, Stop Loss ₹1346.
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.