Stock market news: Indian stock markets ended the week on a lackluster note, with the Nifty 50 and Sensex both experiencing a decline of nearly 0.7%, closing at 24,853 and 81,721, respectively. This dip follows a strong rally of 4% the week before. Conversely, the Bank Nifty index rose by 43 points, supported by positive sentiment among major banking stocks.
Experts suggest that in the upcoming week, Indian markets are expected to be swayed by a combination of global and domestic factors. Increased volatility is anticipated due to the expected announcement of a new US tax policy, which may affect global investment flows over time. Domestically, the Q4 FY25 earnings season remains a major point of interest, with investors paying close attention to management insights and industry trends.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment has turned positive after a decent pullback in the Nifty 50 index from 24,500 levels.
Speaking on the outlook of the Indian stock market, Bagadia added, the 50-stock index is looking set to touch 25,400 and 25,800 soon. So, 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: VIP Clothing Ltd, Magellanic Cloud Ltd, and Snowman Logistics Ltd.
Buy VIP Clothing Ltd in Cash at ₹43.29 with a stop loss at ₹41.77 and target price of ₹46.32
Buy Magellanic Cloud Ltd in Cash at ₹80.33 with a stop loss at ₹77.51 and target price of ₹86
Buy Snowman Logistics Ltd in Cash at ₹58.68 with a stop loss at ₹56.62 and target price of ₹62.78
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.
