Stocks to buy under ₹100: After a weak opening, the Indian stock market witnessed strong buying at the lower levels, and all three key benchmark indices finished with decent gains. The Nifty 50 index regained the psychological 25,000 and finished 122 points higher at 25,090. The BSE Sensex registered a 442-point gain and closed at 82,200, whereas the Bank Nifty index ended 669 points northward at 56,952. Eternal, ICICI Bank and HDFC Bank emerged as the top performers in the Nifty. Conversely, Reliance, Wipro, and IndusInd Bank concluded the session as the major losers. Trading volumes on the NSE cash market were slightly lower by 3% compared to the previous session.
Among the sectoral indices, Nifty Financial Services, Nifty Bank, and Metal emerged as major gainers, playing a crucial role in the Nifty’s rebound. On the other hand, OIL/GAS, PSU Banks, and FMCG faced the steepest declines, contributing significantly to the overall market fall. The Nifty Midcap 100 Index gained 0.62%, while the Nifty Smallcap 100 Index underperformed the Benchmark, ending flat. Market breadth remained negative, with declining stocks outnumbering advancing ones on the BSE, as indicated by an advance-decline ratio of 0.90.
Stock market today
On the Indian stock market’s outlook today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, “We expect the market to remain range-bound, tracking quarterly earnings outcomes and developments on the India-US trade deal. Key results scheduled for Tuesday include Colgate, JSW Infra, Dixon Tech, and Paytm, amongst others.”
Speaking on the outlook of the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The short-term trend of the Nifty 50 index remains weak, but a decisive move above the key overhead resistance of 25,250 is likely to negate the bearish sentiment in the near term. Any weakness from the lower highs could revisit the recent swing low of 24,882.”
Asked about the outlook of the Bank Nifty index, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Bank Nifty index recovered strongly from the base of the 56,200 zone with a positive bullish candle formation on the daily chart on the back of good results from HDFC Bank and ICICI Bank, which helped in pulling the index and is expected to rise further with a bias improving. On the upside, the index would need to breach above the resistance zone of 57,600 level and, thereafter, expect fresh higher targets of 58,500 and 60,000 levels in the coming days, as mentioned earlier.”
Stocks to buy today under ₹100
Regarding stocks to buy today, Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these four ₹100″>intraday stocks for today under ₹100: SJVN, Lloyds Enterprises, Andhra Paper, and Morepen Laboratories.
Vaishali Parekh’s stocks to buy under ₹100
1] SJVN: Buy at ₹99, Target ₹110, Stop Loss ₹95; and
2] Lloyds Enterprises: Buy at ₹82, Target ₹92, Stop Loss ₹76.
Anshul Jain’s intraday stocks for today under ₹100
3] Andhra Paper: Buy at ₹81, Target ₹86, Stop Loss ₹80; and
4] Morepen Laboratories: Buy at ₹62, Target ₹67, Stop Loss ₹60.
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
