Stocks to buy under ₹100: The Indian stock market witnessed strong buying in the first half of Tuesday’s session. However, after reports of Iran’s ceasefire violation, Dalal Street indices pared most of their gains and ended flat. The Nifty 50 index finished 72 points higher at 25,044, the BSE Sensex ended 158 points higher at 82,055, and the Bank Nifty index gained 402 points and closed at 56,461.
Leading the charge among the top performers on the Nifty were Adani Ports, JIOFIN, and Shriram Finance. Conversely, ONGC, Power Grid, and IndusInd Bank ended the session as major losers. Trading volumes on the NSE cash market were sharply higher by 23% compared to yesterday, indicating significant activity amidst the volatility.
The Midcap and Smallcap indices continued their outperformance relative to the Benchmark. The Nifty Midcap 100 and Nifty Small Cap 100 Indices gained a healthy 0.70%. Market breadth also turned positive, with advancing stocks significantly outpacing declining ones, as indicated by a BSE advance-decline ratio of 1.99 – its highest since May 15th.
Stock market today
Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Nifty 50 index indicated a strong opening session and touched the 25,300 zone but fizzled out in the second half with the bias and sentiment still precariously placed amid the geo-political tensions looming around. The index would need clarity and conviction for the upward move, and a decisive breach above the 25,250 zones is needed to trigger a further fresh upward move in the coming days. On the downside, as mentioned earlier, the 50-EMA level at the 24,500 zone would be the crucial support.”
“The Bank Nifty index once again moved past the 56,200 zone to hit the high level at 56,860 zone but could not sustain for long with profit booking seen and ended near the 56,500 level with more conviction and stability awaited. The index needs to sustain above the near-term support of 55,400 level to maintain the bias intact. On the upside, a decisive breach above the 57,000 zone shall trigger a fresh upward move in the coming days,” said Shiju Kuthupalakkal of Prabhudas Lilladher.
Stocks to buy today under ₹100
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; and Sugandha Sachdeva, Founder of SS WealthStreet — recommended four intraday stocks for today under ₹100: DCW, IOL Chemicals and Pharmaceuticals, Centrum Capital, and Sterlite Technologies.
Vaishali Parekh’s stock recommendations today
1] DCW: Buy at ₹75.90, Target ₹79, Stop Loss ₹74.
Mahesh M Ojha’s stocks to buy under ₹100
2] IOL Chemicals and Pharmaceuticals: Buy at ₹91 to ₹92, Targets ₹93.80, ₹96, ₹98, Stop Loss ₹89.70; and
3] Centrum Capital: Buy at ₹31 to ₹31.50, Targets ₹32.40, ₹33.80, ₹35, Stop Loss ₹28.80.
Sugandha Sachdeva’s intraday stock for today
4] Sterlite Technologies: Buy at ₹99.50, Target ₹104.40, Stop Loss ₹97.60.
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.
