Stocks to buy under ₹100: In a stark contrast to the previous session, the Indian stock market witnessed sharp selling in the last hour of trade during the Wednesday session. The Nifty 50 index went off 46 points and closed at 25,476, the BSE Sensex ended 176 points lower at 83,536, while the Bank Nifty index finished 42 points down at 57,213. Shriram Finance, Bajaj Finance, and Coal India were leading the charge among the top performers on the Nifty, showcasing individual strength despite the broader market’s dip. Conversely, HCL Tech, Hindalco, and Tata Steel bore the brunt of the selling pressure, concluding the session as major losers. Volumes on the NSE cash market were higher by 5% compared to yesterday, indicating increased activity during this reversal.
The Nifty Midcap 100 Index continued its profit-booking phase for the fourth consecutive day, ending with minor losses of 0.13%. On the other hand, the Nifty Smallcap 100 Index bucked the trend by rising 0.59%. Despite the benchmark’s fall, market breadth ended positive, showing signs of improvement, with advancing stocks slightly outpacing declining ones, as indicated by a BSE advance-decline ratio of 1.07. Amongst the sectoral indices, Nifty FMCG, Consumer Durables, and Auto were the major gainers, demonstrating resilience in a dull market for the benchmark. Conversely, Nifty Realty, Metal, and IT were the major losers, seeing significant profit booking.
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 witnessed a volatile session resisting near the 25,550 zone and slipping down in the final hours of the trading session to end almost on a flat note near the 25,470 zone with bias and sentiment maintained intact. With the onset of result season, we can expect volatility to rise further with the index having the important support positioned near the 25,250-25,300 zone, which needs to be sustained. On the upside, a decisive breach above the 25,650 zone shall trigger a fresh upward move with higher targets of 25,700 and 26,200 levels in the coming days.”
“The Bank Nifty index witnessed almost a sluggish session with narrow rangebound movement once again finding resistance near the 57,300 zone and closed on a flat note near the 57,200 level. The index has maintained a strong overall undertone. It can be expected to rise further once a decisive breach above the resistance level of 57,600 is confirmed, thereafter, expecting fresh targets of 58,500 and 60,000 levels in the coming days. As mentioned earlier, the index continues to have the 56,000 zone as the important and crucial support, which needs to be sustained now,” said Shiju Kuthupalakkal of Prabhudas Lilladher.
Stocks to buy under ₹100
Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment — recommended these four ₹100″>intraday stocks for today under ₹100: Vascon Engineers, Ujjivan Small Finance Bank, and BL Kashyap.
Vaishali Parekh’s stock recommendation today
1] Vascon Engineers: Buy at ₹53, Target ₹58, Stop Loss ₹49.
Sugandha Sachdeva’s intraday stock for today
2] Ujjivan Small Finance Bank: Buy at ₹47.30, Targets ₹49.80, ₹51.40, Stop Loss ₹45.70.
Anshul Jain’s share to buy under ₹100
3] BL Kashyap: Buy at ₹67.50, Target ₹73, Stop Loss ₹63.
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.
