Published on 06/05/2025 07:59 AM
Stocks to buy under ₹100: Following strong global market sentiments on falling crude oil prices, two out of the three key benchmark indices of the Indian stock market ended higher on Monday. The Nifty 50 index finished 114 points higher at 24,461; the BSE Sensex ended 294 points higher at 80,796. However, the Bank Nifty index shed 195 points and closed at 54,919. The NSE cash market trading volumes were 11% lower than last Friday.
The mid-cap and smallcap segments displayed notable outperformance compared to the benchmark indices. The Nifty Midcap 100 Index soared by 1.81%, while the Nifty Smallcap 100 Index ended with gains of 1.02%. Market breadth turned positive after six sessions of declines, with the BSE advance-decline ratio registering a strong 1.76, the highest since April 21, 2025.
Speaking on the outlook of the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, "We expect the market to continue its consolidation with a positive bias while tracking global cues and developments on the geopolitical front. Result reactions would drive sector/stock-specific movements with companies like Godrej Consumer, BSE, HPCL, CG Power, and Polycab, amongst others, announcing Q4 results today."
On the outlook of the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The short-term trend of Nifty continues to be positive. With a sustainable move above the hurdle of 24500-24600 levels, Nifty could soon move towards the next upside of 24800-25000. Immediate support is placed at 24250."
Asked about the outlook of the Bank Nifty today, Hrishikesh Yedve, AVP — Technical and Derivatives Research at Asit C. Mehta, said, “The Bank Nifty index opened negative on Monday, witnessed buying in the early trade, but succumbed to profit booking, ended on a negative note at 54,920. On the daily chart, the Bank Nifty index formed a red candle with a long upper shadow, reflecting higher-level uncertainty. Resistance for the Bank Nifty index is at 55,700 and 56,000, while key support lies at 54,450. A firm break below 54,450 may trigger fresh selling pressure, potentially dragging the index towards 54,000. Until then, a range-bound consolidation between 54,450 and 56,000 may continue.”
Regarding intraday stocks for today under ₹100, market experts — Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP — Research at Hensex Securities; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment and Securities — recommended buying these five shares: Allcargo Gati, Hi-Tech Pipes, Niva Bupa, JTL Industries, and Suzlon Energy.
1] Allcargo Gati: Buy at ₹61, Target ₹65, Stop Loss ₹59.
2] Hi-Tech Pipes: Buy at ₹90 to ₹91.50, Targets ₹93.50, ₹95, ₹97, and ₹100, Stop Loss ₹87.80; and
3] Niva Bupa: Buy at ₹84 to ₹86, Targets ₹88, ₹90, ₹95, and ₹100, Stop Loss ₹82.
4] JTL Industries: Buy on dips at ₹65, Target ₹69.20, Stop Loss ₹62.70.
5] Suzlon Energy: Buy at ₹56.50, Target ₹60.50, Stop Loss ₹54.
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 taking any investment decisions.
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