Stocks to buy on 3 June: Indian equity benchmarks recovered from their day’s lows on Wednesday, 3 June, after reports suggested the government may consider measures to support the rupee, encourage foreign investment into the bond market and review the long-term capital gains (LTCG) tax framework.
Despite the recovery, markets ended lower as rising crude oil prices and profit-booking in information technology stocks weighed on sentiment. The Nifty 50 closed 0.33% lower at 23,405.60, while the BSE Sensex declined 0.41% to 74,346.17. Both indices had fallen nearly 1.5% during intraday trade before trimming losses.
IT stocks came under pressure after a recent rally, while concerns over elevated oil prices continued to dampen risk appetite. Brent crude oil climbed around 3% to nearly $99 per barrel, as tensions in the Gulf intensified and diplomatic efforts between Washington and Tehran showed limited progress.
Foreign investors have remained cautious on Indian equities, pulling out a record $26.8 billion so far this year. Analysts attribute the outflows partly to India’s relatively limited exposure to direct beneficiaries of the global artificial intelligence boom, alongside concerns over higher energy prices.
The latest decline marks the fifth loss in the past six trading sessions for domestic benchmarks, underscoring the impact of geopolitical uncertainty and persistent foreign selling on market sentiment. Higher crude prices remain a key concern for India, as they can widen the current account deficit, stoke inflationary pressures and weigh on economic growth.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart shows a negative start for the Indian stock market today. By 7:45 AM, the Gift Nifty was trading around the 23,300.5 level, a discount of 105 points from the Nifty futures’ previous close of 23,405.60.
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 Indian equities are set for a weak start today, with Gift Nifty trading around 23,317, indicating a gap-down opening compared to the previous close. The negative setup is largely driven by deteriorating global sentiment, as escalating tensions in the Middle East continue to push crude oil prices higher and heighten concerns about inflation, interest rates, and global growth.
Overnight, US markets closed sharply lower, with the Dow Jones falling over 1.2%, as investors reacted to rising Treasury yields and renewed geopolitical risks following fresh military exchanges involving the US and Iran. The risk-off mood has carried into Asia, where major indices, including Japan’s Nikkei and South Korea’s Kospi, are trading firmly in the red.
For Indian markets, the biggest macro variable remains crude oil. With Brent continuing to trade at elevated levels, concerns are growing around imported inflation, fiscal pressures, and the outlook for the rupee. Higher energy prices not only affect corporate margins but also complicate the Reserve Bank of India’s policy environment.
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 – Ltd, Ltd, Ltd, Ltd, and Ltd.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Laxmi Organic Industries (current market price ₹164.55)
Why it’s recommended: Laxmi Organic Industries Ltd is a prominent Indian specialty chemicals manufacturer, supplying essential raw materials to the pharmaceutical, agrochemical, and packaging industries across more than 30 countries. The stock had been recommended earlier as well in our article and it continues to perform quite robustly. The strong uptrend remains intact and despite some turbulence in the market the dips are used to buy into. As steady volume build-up is seen we can look at how this counter is able to generate steady upward momentum. The reaction from every swing pullback augurs well look to go long.
Key metrics:
P/E: 57.71,
52-week high: ₹240.60,
Volume: 46.59M
Technical analysis: Support at ₹150, resistance at ₹195.
Risk factors: Raw material price volatility, reliance on a single manufacturing hub, geopolitical and logistics disruptions, and heavy shareholder dilution.
Buy : above ₹165.
Stop loss: ₹155.
Target price: ₹189 (2 Months)
IIFL Finance (current market price ₹498.80)
Why it’s recommended: IIFL Ltd about is one of India’s leading diversified non-banking financial companies (NBFCs) focuses on gold loans, home loans, microfinance, and corporate MSME lending. Post the last quarter numbers the stock fell sharply and the fall began to plateau and show some recovery only towards April 2026. The steady recovery since then forming a rounding pattern has resulted in a strong breakout. With prices moving out of the shadows with the recent Q4 numbers we can now look at some potential upward drift. Go long/
Key metrics:
P/E: 18.36,
52-week high: ₹674.95,
Volume: 6.96M.
Technical analysis: Support at ₹430, resistance at ₹600.
Risk factors: Regulatory compliance, asset quality in unsecured loans, and liquidity constraints.
Buy : above ₹500
Stop loss: ₹478
Target price: ₹550 (2 Months)
Jindal Saw Ltd (current market price ₹250.85)
Why it’s recommended: Jindal SAW Ltd. is a leading global manufacturer and supplier of iron and steel pipe products and pellets. The stock has managed to survive the constant volatility and also taken advantage of the tailwind in this sector. The strong pullbacks into the Tenkan Sen and Kijun Sen lines has seen some steady buying interest that has propelled the stock higher. With the fresh revival in Relative Strength Index (RSI) one can look to go long.
Key metrics:
P/E: 20.42,
52-week high: ₹260.20,
Volume: 4.14M.
Technical analysis: Support at ₹230, resistance at ₹290.
Risk factors: High commodity price volatility for raw materials like scrap iron and coal, and execution risks tied to government water contracts..
Buy : above ₹253
Stop loss: ₹240
Target price: ₹280 (2 Months)
Two stock recommendations by MarketSmith India
Buy: The Federal Bank Ltd (current price: ₹301)
Why it’s recommended: Strong retail-focused banking franchise, consistent asset quality performance, healthy CASA base, well-diversified loan portfolio, strong presence in South India, improving digital banking capabilities, stable deposit growth, healthy capital adequacy, strong risk management practices, consistent profitability track record, growing retail and SME lending, improving operational efficiency, strong NRI customer franchise, attractive valuation versus peers, and healthy return ratios.
Key metrics: P/E: 16.12, 52-week high: ₹302.85, volume: ₹474.34
Technical analysis: Trendline Breakout
Risk factors: Intense competition from private banks, interest rate cycle impact, margin pressure from deposit costs, economic slowdown affecting credit growth, rising NPAs during weak cycles, geographic concentration risk, CASA growth challenges, regulatory compliance risks, competition for low-cost deposits, credit cost volatility, dependence on regional economic activity, technology and cybersecurity risks, slower loan growth risk, talent retention challenges, and valuation re-rating may be gradual.
Buy: ₹298–303
Target price: ₹346 in two to three months
Stop loss: ₹285
Buy: Fiem Industries Ltd (current price: ₹2,347)
Why it’s recommended: Strong presence in automotive lighting, leading supplier to major OEMs, beneficiary of premiumization trend, growing demand for LED lighting, strong relationship with two-wheeler OEMs, established manufacturing capabilities, focus on technology-driven products, export growth opportunities, healthy balance sheet, consistent profitability track record, beneficiary of EV adoption, increasing content per vehicle, capacity expansion opportunities, strong niche positioning in lighting, and improving operational efficiencies.
Key metrics: P/E:23.41, 52-week high: ₹2,555.30, volume: ₹44.11 crore
Technical analysis: Cup-with-handle base breakout
Risk factors: Dependence on auto industry cycle, high exposure to two-wheeler segment, customer concentration risk, slowdown in vehicle sales, raw material price volatility, margin pressure from OEM pricing, intense competition in auto ancillaries, EV technology transition risks, supply chain disruptions, dependence on key OEM relationships, working capital requirement risk, export demand fluctuations, technology obsolescence risk, economic slowdown affecting demand, and valuation risk during auto downturns.
Buy at: ₹2,324–2,359
Target price: ₹2,700 in two to three months
Stop loss: ₹2,200
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.