Stocks to buy under ₹100: The Indian stock market paused briefly on Friday, May 16, after hitting a seven-month high, as subdued global signals and a sharp downturn in domestic tech stocks dampened investor sentiment.
The Nifty 50 slipped by 42 points, or 0.17 per cent, to end just above the 25,000 level at 25,019, while the Sensex declined by 200 points, or 0.24 per cent, closing at 82,330. Despite the dip, both benchmarks recorded solid weekly gains of over 4 per cent.
Wider markets saw even more robust growth, with the Nifty Midcap 100 climbing 7.21 per cent this week and the Nifty Smallcap 100 surging by an impressive 9 per cent.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive as the Nifty 50 index has made strong base around 25,000.
Speaking on the outlook of the Indian stock market, Bagadia added, “The index is set to touch 25,400 and 25,800 soon. One should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart.”
Stocks to buy under ₹100
Regarding stocks to buy under ₹100, Sumeet Bagadia recommended buying these three shares: Rattanindia Enterprises, GMR Airports, and Network18 Media & Investments.
1] Rattanindia Enterprises: Momentum buy at ₹48.62, Stop Loss of ₹46.91; Target Price of ₹52.02.
2] GMR Airports: Momentum buy at ₹91.07, Stop Loss of ₹87.88; Target Price of ₹97.44.
3] Network18 Media & Investments: Momentum buy at ₹47.60, Stop Loss of ₹45.93; Target Price of ₹50.93.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
