Stocks to buy under ₹100: The key benchmark indices of the Indian stock market extended their bullish trajectory for the fifth consecutive session on Wednesday, August 20, buoyed by sustained investor optimism surrounding the Centre’s anticipated rationalisation of the Goods and Services Tax (GST) structure. The Nifty 50 index opened on a muted note but gathered upward momentum in the latter half, registering an intraday high of 25,088 before settling at 25,050.55, marking a gain of 69 points or 0.28%. Market sentiment was further bolstered by expectations of GST reform announcements ahead of Diwali, alongside a thaw in India-China geopolitical tensions—both acting as key catalysts for the ongoing relief rally.
On the sectoral front, performance was mixed. Nifty IT outperformed with a robust uptick of 2.69%, followed by Nifty FMCG (+1.39%) and Nifty Realty (+1.06%). Other sectors like Nifty Metal, Energy, Infra, and Auto closed with marginal gains, reflecting a broad-based yet selective buying interest. Conversely, profit booking weighed on Nifty Media, the worst performer, declining 1.98%, while Nifty Pharma and PSU Bank indices shed 0.44% and 0.27% respectively. The broader markets mirrored the benchmark’s resilience, with the Nifty Midcap 100 and Nifty Small Cap 100 closing higher by 0.46% and 0.3% respectively, indicating continued risk appetite across market capitalisations.
Stock market today
Asked about the outlook of the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, “Overall, the near-term market outlook remains positive on the back of government’s policy support and consumption boost, while investors continue to track global developments, sectoral trends and key macro data- including India and US Manufacturing and Services PMI due on Thursday.”
Speaking on the outlook of the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The short-term trend of the Nifty 50 index continues to be positive. Further upside from here could pull Nifty towards the next overhead resistance of 25300 in the short term. Immediate support is placed at 24900.”
On the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, “The Bank Nifty index continues to remain sluggish with no clear directional move, hovering near the important 50-DEMA zone at 55,800. A decisive breach above the 56,200 zone would improve the bias, and we expect further upward movement in the coming days. On the downside, the 55,000 level would remain the important support zone that needs to be sustained to maintain the overall bias intact.”
Intraday stocks for today under ₹100
Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Sugandha Sachdeva, Founder of SS Wealth; and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these three intraday stocks for today under ₹100: Samvardhana Motherson, DCW, and Snowman Logistics.
Vaishali Parekh’s stock recommendations today
1] Samvardhana Motherson: Buy at ₹97, Target ₹105, Stop Loss ₹95.
Sugandha Sachdeva’s stock to buy under ₹100
2] DCW: Buy at ₹80, Targets ₹84, ₹85.50, Stop Loss ₹77.70.
Anshul Jain’s share to buy under ₹100
3] Snowman Logistics: Buy at ₹54.50, Target ₹60, Stop Loss ₹51.
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.
