Stocks to buy under ₹100: The Indian stock market closed lower on Thursday, May 8, as rising tensions between India and Pakistan dampened investor confidence. The Indian stock market began the day on a strong note but experienced a steep decline in the final hour of trading after the Indian government announced that its armed forces had struck air defence radars and systems at various sites in Pakistan.
The Nifty 50 ended the session down 0.51%, slipping below the 24,300 level to finish at 24,273, while the Sensex declined by 411 points, or 0.51%, closing at 80,334.
Stock market today
Speaking on the outlook of the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, “The market volatility is expected to persist as investors track further developments on the India-Pakistan front and US trade announcements.”
On the outlook of the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The underlying trend of Nifty today is weak with high volatility. Rising geopolitical tension is weighing heavily on the market and leading to nervousness. A further fall below 24,200 could open the next lower support of 23,850. Immediate resistance for Nifty today is placed at 24,450.”
When asked about the outlook of the Bank Nifty today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said, “The Bank Nifty index on a daily chart formed a big red candle, indicating selling pressure at higher levels. Immediate resistance for Nifty today is placed at 55,000, followed by 56,000, while key support lies at 53,890.”
Stocks to buy today
Regarding stocks to buy today, market experts Vaishali Parekh, Vice President—Technical Research at Prabhudas Lilladher; Mehul Kothari, Deputy Vice President—Technical Research at Anand Rathi; and Anshul Jain, Head of Research at Lakshmishree Investment and Securities—recommended buying these three intraday stocks: Ujjivan Small Finance Bank, IDFC First Bank, and Restaurant Brands Asia.
Vaishali Parekh’s stock picks
1] Ujjivan Small Finance Bank: Buy at ₹42, Target ₹46, Stop Loss ₹40.
Mehul Kothari’s stock recommendation
2] IDFC First Bank: Buy at ₹66, Target ₹70, Stop Loss ₹63.50.
Anshul Jain’s stock to buy under ₹100
3] RBA: Buy at ₹76.40, Target ₹80, Stop loss ₹75.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
