New Delhi, May 6 -- Stock market recap: India's benchmark equity index, Nifty 50, gained on Monday, 5 May, driven by strong global cues and a weaker US dollar, which boosted investor sentiment. Falling crude oil prices to $60/barrel supported optimism, benefiting India's import-heavy economy.

Most sectors, especially auto, energy FMCG, and metal witnessed gains, while banking and financials lagged behind. Bargain buying in mid- and small-cap stocks after recent corrections also contributed to the gain in the market, which helped the index close above 24,450.

Two stock recommendations by MarketSmith India:

Buy: ITC Ltd (current price: Rs. 437)

* Why it's recommended: Strong financial performance, growth prospects, market position, and ...