Stocks to buy on 8 May: Indian stock market indices, the Sensex and the Nifty 50, closed in negative territory on Thursday, 7 May, primarily due to profit-taking in certain major stocks, including HUL, TCS, ITC, and Reliance.
The Sensex decreased by 114 points, or 0.15%, finishing at 77,844.52, while the Nifty 50 ended at 24,326.65, down 4 points, or 0.02%.
On the other hand, the mid-cap and small-cap sectors recorded significant gains, countering the overall trend in the benchmark indices. The Nifty Midcap 150 and the Nifty Smallcap 250 indices both rose by more than 1%.
Due to positive developments in the wider markets, the total market capitalisation of firms listed on the BSE increased to over ₹475 lakh crore from ₹472.8 lakh crore in the prior session, resulting in a wealth gain of over ₹2 lakh crore for investors in just one day.
The local market saw selective buying as optimism over a possible US-Iran agreement intensified, pushing Brent Crude prices below the $ 100-per-barrel threshold. The Indian rupee appreciated following a drop in crude oil prices, with the domestic currency gaining 25 paise to finish at 94.24 against the US dollar, as reported by PTI.
What Gift Nifty live chart signals?
The Gift Nifty Live Chart is showing a negative start for the Indian stock market today. By 7:44 AM, the Gift Nifty was trading around the 24,273 level, a discount of 110 points from the Nifty futures’ previous close of 24,382.80.
Decoding the impact of Gift Nifty live chart and other triggers on Dalal Street, Ponmudi R, CEO of Enrich Money, a SEBI-registered online trading and wealth-tech firm, said that the Indian equity markets are expected to remain cautious and highly sensitive to news flow, as escalating geopolitical tensions in the Middle East continue to weigh heavily on investor sentiment despite periodic relief rallies.
The latest exchange of fire between the US and Iran near the Strait of Hormuz has further heightened uncertainty, even as Donald Trump called on Tehran to accept the US proposal and reiterated that Washington does “not seek escalation”. The contrast between military confrontation and diplomatic messaging has kept investors on edge, curbing risk appetite and reinforcing a defensive undertone across global financial markets.
Crude oil prices, after cooling sharply toward $90 earlier, have once again moved higher and are currently trading in the $95–99 per barrel range, reflecting persistent concerns about supply disruptions and geopolitical instability. Elevated oil prices continue to remain a key macro concern for emerging markets, including India.
On the institutional flows front, foreign institutional investor (FII) selling pressure has persisted in recent sessions, while steady domestic institutional investor (DII) buying continues to lend support to local equities, helping cushion the broader market from sharper declines.
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 – Co. Ltd, Ltd, Ltd (Paytm), Ltd, and Ltd.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman
Sun Pharma Advanced Research Co. Ltd: Buy above ₹169 | Stop ₹158 | Target ₹193 (multiday)
Sun Pharma Advanced Research Co. Ltd (Cmp ₹166.85)
Why it’s recommended: Sun Pharma Advanced Research Co. Ltd. (SPARC) is a clinical-stage, international biopharmaceutical company focused on R&D for new drugs, including novel drug delivery systems and new chemical entities. After spending the last 6 months in a declining phase, the stock lost momentum till the Pharma sector picked up once again. In the recent revival, a sharp thrust above the value area at 155. The long-bodied candle with high volume signals the onset of a new trend in 2026. The steady support at the TS & KS bands. A promising long body candle to end the previous trading session, despite some market sell-off, indicates some genuine buying interest. Go long.
Key metrics:
52-week high: ₹204.25,
Volume: 7.23M
Technical analysis: Support at ₹140 | Resistance at ₹205.
Risk factors: High-debt levels, interest coverage concerns.
Buy: Above ₹169.
Stop loss: ₹158.
Target price: ₹193 (Two months)
Laxmi Organic Industries Ltd: Buy above ₹165 | Stop ₹157 | Target ₹181 (multiday)
Laxmi Organic Industries Ltd (Cmp ₹163.92)
Why it’s recommended: Laxmi Organics is a prominent Indian manufacturer specialising in acetyl intermediates and speciality chemicals, established in 1989 and based in Mumbai. After the last six months in a declining mode, we can now see a steady rounding pattern moving beyond the value area resistance around 153-155, which is continuing to lend support to the breakout, now leading to the TS & KS bands heading higher. A strong, long body candle augurs well for some upside if the market retains some positive momentum. A positive uptick in the Average Directional Index and Relative Strength Index we can look to initiate a long opportunity here for a push to higher levels. Go long now.
Key metrics:
P/E: 53.19,
52-week high: ₹240.60,
Volume: 2.14M.
Technical analysis: Support at ₹150 | Resistance at ₹190.
Risk factors: Raw material price volatility, cyclicality, and competition.
Buy: Above ₹165
Stop loss: ₹157
Target price: ₹181 (Two months)
One 97 Communications Ltd (Paytm): Buy above ₹1,200 | Stop ₹1,150 | Target ₹1,290 (multiday)
Paytm (Cmp ₹1,197.40)
Why it’s recommended: Paytm is a leading Indian financial technology (fintech) company and a pioneer of the digital payment revolution in India. After the descent, strong charge post-Q4 numbers that beat estimates have helped prices move back above the cloud. The V-shaped recovery seen over the last few weeks suggests the steady rise could continue beyond the cloud region. Also, the rise in the Positive Directional Index, coupled with increased volumes, could now signal an upward trajectory. A break above 980 was a key event that is now initiating us to go long.
Key metrics:
52-week high: ₹1,381.75
Volume: 14.26M
Technical analysis: Support at ₹1,090 | Resistance at ₹1,325.
Risk factors: Regulatory hurdles, intense competition, and questions regarding the sustainability of its profitability.
Buy: Above ₹1,200.
Stop loss: ₹1,150.
Target price: ₹1,290.
Two stock recommendations by MarketSmith India
Buy: Bharat Forge Limited (current price: ₹1,992)
Why it’s recommended: Strong defence & aerospace growth, diversified global customer base, rising export contribution, strong order book visibility, leadership in forging business, EV component expansion, JV partnerships with global OEMs, healthy cash flow generation, presence across multiple sectors, beneficiary of China+1 shift, capex for future growth, strong promoter background, increasing non-automotive revenue, good technology & engineering capabilities, and long-term defence indigenization theme
Key metrics: P/E: 75.32, 52-week high: ₹2,026.60, volume: ₹1,380.89 crore
Technical analysis: Cup-with-handle base breakout
Risk factors: high dependence on auto sector, cyclical nature of business, global slowdown impact, raw material price volatility, margin pressure during weak demand, high capex execution risk, currency fluctuation risk, dependence on export markets, competition from global players, slow EV transition adaptation risk, defence order delays possible, client concentration risk, debt increase during expansion, geopolitical/trade policy risks, lower commercial vehicle demand risk
Buy: ₹1,985–2,010
Target price: ₹2,290 in two to three months
Stop loss: ₹1,850
Buy: Radico Khaitan Limited (current price: ₹3,407)
Why it’s recommended: Strong premium liquor portfolio, fast-growing prestige & above segment, popular brands like magic moments & rampur, premiumisation trend beneficiary, strong distribution network, improving operating margins, growing export business, consistent revenue growth, strong brand-building capability, high entry barriers in liquor industry, expansion in luxury spirits, better product mix improving profitability, healthy long-term demand for IMFL, strong manufacturing infrastructure, and good cash flow visibility
Key metrics: P/E:73.52, 52-week high: ₹3,591.90, volume: ₹274.57 crore
Technical analysis: Cup-with-handle base breakout
Risk factors: Highly regulated liquor industry, state policy & taxation risks, raw material cost volatility, intense competition from global brands, dependence on consumer spending, premium segment slowdown risk, advertising restrictions in alcohol sector, high working capital requirements, debt increase during expansion, margin pressure from inflation, regulatory approval delays, changing consumer preferences, overvaluation risk at high PE, export market dependency risk, and economic slowdown may impact demand
Buy at: ₹3,400–3,440
Target price: ₹3,900 in two to three months
Stop loss: ₹3,200
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.