On May 5, 2026, the Indian stock market displayed volatility but ended positively, with the Nifty 50 index rising 121 points to close at 24,119. The BSE Sensex also gained 355 points, while the Bank Nifty index saw a marginal increase to 54,878. Despite this, the Gift Nifty indicates a potential gap-down opening at around 24,080, suggesting a cautious sentiment among investors. Geopolitical tensions, particularly the US-Iran conflict, have led to a surge in crude oil prices, which remain above $100 per barrel, raising concerns about inflation and corporate margins in India. However, domestic political clarity following recent elections has improved sentiment in infrastructure sectors. The ongoing Q4 earnings season will be crucial, with results from major companies like Ambuja Cements and Larsen & Toubro expected to influence market trends. Analysts recommend a cautious trading approach, with key support levels identified around 24,000 and resistance near 24,300-24,400. For day traders, eight stocks have been highlighted for potential buy or sell actions, including Bandhan Bank and IndiGo.