Stocks under ₹100: Expert’s pick of the day
Stocks under ₹100: Stocks to consider purchasing for under ₹100: The Indian stock market made a strong recovery in the previous session, as domestic equity benchmarks Sensex and Nifty 50 ended their four-day losing streak. This was due to easing retail inflation and positive global cues. Bargain hunting in energy, banking, and metal stocks helped boost market sentiment.
Nifty 50 closed the session with a 0.39% gain at 23,176.05, while the Sensex closed at 76,499.63, marking a 0.22% increase from the previous close. Mid-cap and small-cap stocks, which had been under bearish pressure recently, also saw gains. The Indian currency initially dropped to an all-time low on Tuesday but later recovered.
In terms of the Nifty 50 index outlook, Ajit Mishra, SVP of Research at Religare Broking Ltd, stated, “Nifty 50 closed at 23,176, up 0.39%. Sector performance was mixed, with notable gains in metal, energy, and financials, while IT and FMCG sectors saw declines. Broader indices saw a strong rebound, each climbing around 2.5%.
Mishra added, “The rebound was driven by oversold conditions, which often lead to such recoveries. Market participants should see this as an opportunity to adjust their positions during further recovery, especially in the broader mid-cap and small-cap segments.”
According to Rupak De, Senior Technical Analyst at LKP Securities, Nifty 50 looks positive for the short term as long as it remains above 23,135. It could potentially move towards 23,400, with a decisive move above that level leading to even higher levels.
For those looking for intraday stocks to buy under ₹100 today, experts Sumeet Bagadia, Executive Director at Choice Broking, and Mahesh M Ojha, AVP of Research at Hensex Securities, recommended purchasing
Mahesh M Ojha’s stock to buy today
- Bank of Maharashtra: Buy at ₹51-52.50, stoploss ₹49.5, target price ₹54-56-58.
- Medico Remedies: Buy at ₹61.8, stoploss ₹60, target price ₹67
Sumeet Bagadia’s stock to buy today - NBCC (India): Buy at CMP, stoploss ₹78, target price ₹95-100
- Canara Bank: Buy at CMP, stoploss ₹87, target price ₹105
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.