News

Stocks to buy under ₹100: Following the positive outcome from the Trump-Putin meeting, GST reforms and optimistic hopes from the Trump-Zelensky meeting, the key benchmark indices of the Indian stock market staged a strong rally of around 1% each, driven by sharp gains in auto, consumption, metal, and realty stocks. Investor sentiment was buoyed by reports of a streamlined Goods and Services Tax (GST) structure, expected to boost spending and fuel consumption. The Nifty opened strongly and climbed to an intraday high of 25,022 mid-session. However, some higher-level profit booking led the index to pare a portion of its gains, eventually closing at 24,882.50, up 251 points or 1.02%.

Sector-wise, Nifty Auto led the charge with a stellar gain of 4.18%, followed by Nifty Realty, which rose 2.17%, and Nifty Metal, up 1.86%. FMCG and PSU Bank indices also traded positively, advancing 1.2% and 0.4%, respectively. On the downside, Nifty IT dipped 0.57%, while Energy, Pharma, and Media sectors remained essentially flat. Broader markets outperformed the benchmarks, with the Nifty Midcap 100 rising 1.08% and the Nifty Smallcap 100 adding 1.38%.

Pointing towards the key takeaways from the Trump-Zelensky meeting, Anuj Gupta, Director at Ya Wealth, said, “If we look at the key takeaways from the most-awaited Trump-Zelensky meeting, the US President Donald Trump has said the US could back security guarantees for Ukraine. However, it is still not clear how to prevent further Russian aggression in the future. One thing that would keep Russia satisfied, Trump has ruled out allowing Ukraine to join NATO. He did, however, express support for security guarantees for Ukraine, which is expected to please Zelensky. So, in a broader perspective, we can say that the Russia-Ukraine peace talks have moved further. Zelensky and Putin are willing to end the war, which may trigger further buying in the global markets, including the indian stock market.”

Speaking on the outlook of the Nifty 50 index, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The Nifty 50 index, after a long consolidation near the 100-DEMA level, finally indicated a strong pullback with a bullish candle formation to close above 50-DEMA level of 24,815 zone with bias and sentiment improving, and as mentioned earlier, a decisive breach above the 25,100 level shall establish conviction, and thereafter, we can expect stability in the coming sessions. Active participation from the broader markets has eased out the pessimism to some extent, which can trigger further upward movement of the indices."

On the outlook of the Bank Nifty today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Bank Nifty index, taking support near the 100-DEMA level of the 54,978 zone, has given an INSIDE BAR breakout above the 55600 zone during the intraday session, and we can expect a further rise with an initial target of the 56,500-56,800 level expected in the coming sessions. With the bias maintained intact till now, the crucial zone of the 55,000 level needs to be sustained to anticipate further recovery on the index."

Regarding stocks to buy today, market experts — Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these three intraday stocks for today under ₹100: Ola Electric Mobility, JTL Industries, and Shriram Properties.

1] Ola Electric Mobility: Buy at ₹41, Target ₹45, Stop Loss ₹39.

2] JTL Industries: Buy at ₹68, Targets ₹71.50, ₹73.30, Stop Loss ₹65.70.

3] Shriram Properties: Buy at ₹89.50, Target ₹95, Stop Loss ₹85.

Russian and Ukrainian presidents Vladimir Putin and Volodymyr Zelensky looked set for a peace summit after fast-moving talks Monday between Donald Trump and European leaders that focused on the key issue of long-term security guarantees for Kyiv.

The hope of a breakthrough rose after Trump said he had spoken by phone with Russian counterpart Putin, whom he had met in Alaska last week, following a "very good" meeting with the Europeans and the Ukrainian president at the White House.

It would be the first meeting between the Russian and Ukrainian leaders since Moscow's brutal invasion nearly three and a half years ago, and comes as Trump tries to live up to his promise to end the war quickly.

(With inputs from AFP)

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.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories

Log in to our website to save your bookmarks. It'll just take a moment.