Stocks to buy under ₹100: The Indian stock market continued to trade volatile for the sixth straight session on Wednesday. The Nifty 50 index ended higher for the sixth straight session and finished at 25,141. The BSE Sensex gained 123 points and closed at 82,515, while the Bank Nifty index went off 169 points and closed at 56,459. Sectorally, oil & gas, IT, and pharma were the major gainers, demonstrating strength even in a consolidating market. However, Nifty PSU Banks, FMCG, and metal sectors ended the day in the red.
In a change from recent trends, the Nifty Mid-cap and Small-cap indices broke their winning streak today. The Nifty Mid-cap 100 Index fell by 0.49%, while the Nifty Small-cap 100 Index went down by 0.53%. However, market breadth remained decisively positive, with advancing stocks significantly outpacing declining ones, as indicated by a BSE advance-decline ratio of 1.24.
Stock market today
On the outlook of the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, “Looking ahead, market participants will closely track key economic data points, with US CPI data released on Wednesday, followed by the UK GDP print and India’s CPI inflation reading, due on Thursday. Positive developments on the US-China trade front and the India-EU FTA could influence sentiment and set the tone for near-term market direction.”
Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Nifty 50 index, after consolidating since the last two days, witnessed a volatile session with the initial half progressed ahead to scale the 25,200 zones while post-lunch session succumbed to profit booking to end near the 25,150 level with sentiment slightly turning cautious. The index has the 25,000 zones as the near-term support, while on the upside, the 25,500 level can be expected in the coming sessions once there is a breach above the hurdle of 25,200 levels, with overall bias maintained strong.”
“The Bank Nifty index has witnessed another session of profit booking to slip further from the peak made near the 57,000 zone, and with the 55,800 to 56,000 band maintained as the important support from the current level, the index is still in the strong territory but would need a decisive breach above the 57,000 level to anticipate for fresh upward move in the coming days to maintain the positive bias intact,” Shiju Kuthupalakkal said.
Stocks to buy today
Regarding stocks to buy today, market experts Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP—Research at Hensex Securities; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshil Jain, Head of Research at Lakshmishree Investment and Securities, recommended these five intraday stocks: Lloyds Enterprises, NMDC Steel, Sterlite Technologies, Fedders Holding, and Ugar Sugar Works.
Vaishali Parekh’s stock recommendations today
1] Lloyds Enterprises: Buy at ₹73, Target ₹83, Stop Loss ₹70.
Mahesh M Ojha’s stocks to buy under ₹100
2] NMDC Steel: Buy at ₹40 to ₹41, Targets ₹42.40, ₹43.80, ₹46, Stop Loss ₹38.80; and
3] Sterlite Technologies: Buy at ₹76.50 to ₹77, Targets ₹78.50, ₹80, ₹82, ₹85, Stop Loss ₹74.60.
Sugandha Sachdeva’s share to buy under ₹100
4] Fedders Holding: Buy at ₹50, Targets ₹53, ₹54.80, Stop Loss ₹48.40.
Anshul Jain’s stock of the day
5] Ugar Sugar Works: Buy at ₹51, Target ₹58, Stop Loss ₹48 (Closing Basis).
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 making any investment decisions.
