Stocks to buy under ₹100: The Indian stock market ended with strong gains on Friday, after the Reserve Bank of India (RBI) cut repo rates by 50 bps, boosting market sentiment. The Nifty 50 ended 252 points, or 1.02 per cent, higher at 25,003.05, with 46 stocks in the green. The index snapped its two-week losing streak. Nifty Bank posted a stellar gain of 1.47 per cent on Friday and extended gains to the fourth consecutive session.
Sumeet Bagadia’s stock recommendations
Sumeet Bagadia, Executive Director at Choice Broking, expects the Nifty 50 to extend gains to touch 25,600 and 26,000.
“The Indian stock market sentiment has turned positive as the Nifty 50 index has breached above 25,000 decisively. Once the benchmark index breaks above Friday’s high decisively, we can expect the 50-stock index to touch 25,600 and 26,000 respectively,” said Bagadia.
This week, market participants will focus on the consumer price index (CPI) inflation data and the index of industrial production (IIP) data to get fresh cues about the health of the Indian economy.
The progress of the monsoon and sowing patterns will also be on the radar of market participants.
Stocks to buy under ₹100
Regarding stocks to buy under ₹100, Sumeet Bagadia recommended buying these three shares: IDFC First Bank, Motherson Sumi Wiring India, and HFCL.
IDFC First Bank | Buy in cash at ₹71.55 | Target price: ₹79 | Stop loss: ₹68
Motherson Sumi Wiring India | Buy in cash at ₹60.51 | Target price: ₹67 | Stop loss: ₹57.50
HFCL | Buy in cash at ₹91.42 | Target price: ₹101 | Stop loss: ₹86.50
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
