Stocks to buy under ₹100: Experts recommend four shares to buy today after ease in Israel-Iran war

Mint

6 days ago

Stocks to buy under ₹ 100: Following the geopolitical tension caused by the Israel-Iran war, the Indian stock market witnessed intense selling pressure on Monday. The Nifty 50 index crashed 140 points and closed at 24,971, the BSE Sensex shed 511 points and closed at 81,896, while the Bank Nifty index finished 193 points lower at 56,059. Trent, BEL, and Hindalco emerged as the top gainers on the Nifty, while Infosys, HCL Technologies, and Larsen & Toubro were the session's biggest laggards. NSE cash market volumes declined 19% compared to the 10-day average.
The Indian Rupee weakened 17 paise against the US Dollar, closing at 86.75—its lowest level since March 17. This depreciation stemmed from surging crude oil prices following US strikes on Iran's nuclear facilities, combined with a strengthening Dollar Index and weak domestic equity performance. The Mid-cap and the Small-cap indices defied the broader market decline. The Nifty Mid-cap 100 Index advanced 0.36%, while the Nifty Small-cap 100 Index gained 0.70%. Nifty Media, Consumer Durables, and Metals posted substantial gains, highlighting pockets of resilience. IT, Auto, and FMCG sectors closed sharply lower, weighing heavily on the benchmark index.
Speaking on the outlook of the Nifty 50 today, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, "The Nifty 50 index, after opening on a weak note near the 24,950 zone, witnessed fluctuations during the session on the back of geopolitical turmoil and closed in the red below the 25,000 zone with sentiment maintained with a very cautious approach. The index has witnessed a strong resistance near the 25,200 zones, whereas, on the downside, the 24,700 level would be the crucial near-term support that needs to be sustained to maintain the overall bias intact."
"The Bank Nifty index opening on the lower end remained passive near the 55900 zone, whereas the post-lunch session witnessed some pullback to move past the 56000 level to minimise the losses. The index needs to indicate a clear breakout above the 56200-56300 zone to trigger a fresh upward move with the 55000 zone, on the downside maintained as the important and crucial near-term support, which needs to be sustained as of now," said Shiju Kuthupalakkal of Prabhudas Lilladher.
Regarding stocks to buy today, Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP — Research at Hensex Securities; and Sugandha Sachdeva, Founder of SS WealthStreet — recommended these four intraday stocks for today under ₹ 100: Hi-Tech Pipes, NMDC, IRB Infrastructure, and NFL.
1] Hi-Tech Pipes: Buy at ₹ 98, Target ₹ 110, Stop Loss ₹ 94.
2] IRB Infrastructure: Buy at ₹ 49 to ₹ 49.50, Targets ₹ 50.50, ₹ 51.80, ₹ 54, ₹ 56, Stop Loss ₹ 48.10; and
3] NMDC: Buy at ₹ 67.50 to ₹ 68.05, Targets ₹ 69.40, ₹ 71, ₹ 74, Stop Loss ₹ 66.50.
4] NFL: Buy 97.80, Target ₹ 102.50, Stop Loss ₹ 95.50.