2 weeks Ago
Intraday stocks for today under ₹ 100: Following US President Donald Trump's tariffs , the Indian stock market opened lower on Thursday. However, the Indian indices demonstrated remarkable resilience, quickly recouping most of their losses in the first half of the trading session. The Nifty 50 index ended 82 points lower at 23,250, the BSE Sensex shed 322 points and closed at 76,295, and the Bank Nifty index finished 249 points higher at 51,597.
The NSE cash market volumes increased by 13% compared to the previous day. Sectorally, Pharma, Healthcare, and PSU Banks were the top performers, while IT, Auto, and Metals experienced the most significant losses. Mid and small-cap indices continued to outperform the broader market.
The Nifty Midcap 100, despite opening lower, staged a strong recovery, closing 0.21% higher. The Nifty Small Cap 100 rebounded significantly from its intraday lows, finishing with a 0.
58% gain. Market breadth remained positive for the third consecutive day, with the BSE advance-decline ratio at 2.40.
Stock market today Speaking on the outlook for the Indian stock market today , Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "With the major event now over, market focus will shift towards the RBI's monetary policy on 9th April and the Q4FY25 earnings season kicking off next week." On the outlook for the Nifty 50 today, Rupak De, Senior Technical Analyst at LKP Securities, said, "The Nifty opened lower following weak global cues but recovered immediately. Sentiment remains strong as the Indian market showed resilience despite weak global equity trends led by Trump's tariffs.
Short-term support is placed at 23,100, and as long as the Nifty stays above this level, the trend will likely remain strong. It may move towards 23,430 on the higher end, and a decisive move above this level could trigger a stronger rally." Asked about the outlook of Bank Nifty today, Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C.
Mehta Investment Intermediates Ltd. (A Pantomath Group Company) said, "The Bank Nifty index opened with a gap down, witnessed buying interest, and concluded the day on a positive note at 51,597. Technically, Bank Nifty defended support of the 200-Day Simple Moving Average (200-DSMA), placed around 51,030, and formed a bullish candle on the daily chart, indicating strength.
On the downside, major support for Bank Nifty is placed near the 51,030 and 50,640 levels, while 52,000 will act as a major hurdle for the index in the short term. Traders are advised to follow a "buy on dips" strategy as long as the index holds 50,640 levels." Intraday stocks for today under ₹ 100 Regarding buy or sell stocks for today, market experts — Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher; Mahesh M Ojha, AVP — Research at Hensex Securities; and Sugandha Sachdeva, Founder of SS WealthStreet — recommended these five intraday stocks for today: IOB, NHPC, Confidence Petroleum India, Canara Bank, and NMDC Steel.
Vaishali Parekh's stocks to buy under ₹ 100 1] IOB: Buy at ₹ 37, target ₹ 42, stop loss ₹ 35; 2] NHPC : Buy at ₹ 84.70, target ₹ 92, stop loss ₹ 80. Mahesh M Ojha's shares to buy under ₹ 100 3] Confidence Petroleum India: Buy at ₹ 52 to ₹ 53, targets ₹ 54.
50, ₹ 56, and ₹ 58, stop loss ₹ 50.50; and 4] Canara Bank: Buy at ₹ 93 to ₹ 94, targets ₹ 96, ₹ 98, ₹ 100, and ₹ 102, stop loss ₹ 91. Sugandha Sachdeva's buy or sell stock 5] NMDC Steel: Sell at ₹ 36.
40, target ₹ 33.70, stop loss ₹ 37.50.
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..
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