Breakout stocks to buy or sell: The Indian stock market endured a volatile trading session as market participants digested the implications of US President Donald Trump’s imposition of a 25% tariff and punitive measures on India. The benchmark indices—Nifty 50 and Sensex—opened on a weak note, slipping nearly 1%, before staging a sharp intraday recovery to reclaim the 24,900 mark. However, renewed selling pressure in the final hour of trade dragged the indices back into negative territory.
The Nifty 50 ultimately settled with a cut of 86.70 points, or 0.35%, at 24,768.35. Sectoral breadth was broadly negative, with all major indices ending in the red barring the Nifty FMCG index, which bucked the trend and gained 1.3%. The outperformance in FMCG names was driven by defensive buying amid heightened volatility and upbeat commentary from sector heavyweight Hindustan Unilever.
Trump tariffs on India
US President Donald Trump signed a sweeping executive order on Thursday, imposing reciprocal 25% tariffs on Indian imports. The order became effective today as the Indian and US governments failed to reach a consensus on the India-US trade deal. Interestingly, India’s neighbour, Pakistan, has signed a trade deal with the US, and the US government has imposed a 19% trade tariff on the Islamic state.
Stock market today
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market sentiment is cautious as the Nifty 50 index is facing a hurdle at 24,900. As Trump’s tariffs on India have become effective today, the market is expected to react, and hence, 24,500 support and 24,950 resistance for the key benchmark index would be crucial.
Speaking on the outlook of the Nifty 50 today, Sumeet Bagadia said, “The Indian stock market sentiment is cautious as the Nifty 50 index is facing a hurdle at 24,900. After Trump’s tariffs on India were imposed, the market is expected to remain cautious. If the Nifty 50 sustains above its 24,500, we can expect some relief; otherwise, there can be panic selling if the key benchmark index slips below 24,500. Similarly, the key benchmark index is facing a hurdle at 24,950, and the index may see selling pressure around these levels.”
Sumeet Bagadia’s recommended stocks
Regarding Sumeet Bagadia’s intraday stock picks for Friday, the Choice Broking expert recommended these five stocks to buy today: Alkyl Amines Chemicals, IXIGO, Vimta Labs, Belrise Industries, and Max India.
1] Alkyl Amines Chemicals: Buy at ₹2348, Target ₹2515, Stop Loss ₹2265;
2] IXIGO: Buy at ₹233.78, Target ₹254, Stop Loss ₹223;
3] Vimta Labs: Buy at ₹693.45, Target ₹742, Stop Loss ₹669;
4] Belrise Industries: Buy at ₹138.13, Target ₹148, Stop Loss ₹133; and
5] Max India: Buy at ₹217.93, Target ₹234, Stop Loss ₹210.
Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
