As the Indian stock market continues to show resilience, savvy investors are on the lookout for affordable stocks. The Nifty 50 index recently surged 1.8%, closing at 23,851.65, while the BSE Sensex climbed 1.96% to reach 78,553.2 just ahead of the Good Friday holiday. Both indices experienced a substantial 4.5% gain over the holiday-shortened week, outperforming many major Asian markets, which are currently grappling with concerns regarding U.S. tariffs and their implications for global economic stability.
Market Performance Highlights
- ICICI Bank and HDFC Bank were standout performers, rising 7.2% and 5.5%, respectively. These stocks reached record highs as investors eagerly awaited their earnings reports.
- The overall sentiment in the Indian stock market remains optimistic, particularly as the Nifty 50 has successfully broken above the 200-day Exponential Moving Average (DEMA), currently positioned at 23,400.
Expert Insights on Stock Trends
Sumeet Bagadia, Executive Director at Choice Broking, shared his perspective on the current market dynamics. He stated, "The benchmark index appears set to reach 24,200 in the near term. However, investors should be cautious of potential profit-taking in leading banking stocks, as the Nifty Bank index is trading above all DEMA levels. It’s wise to focus on stocks demonstrating strength on technical charts."
Top Stock Picks Under ₹100
For those looking to invest in budget-friendly stocks, Bagadia recommends three promising options:
-
Madhav Copper
- Entry Price: ₹50.8
- Stop Loss: ₹48.5
- Target Price: ₹54.5
-
Balaji Telefilms
- Entry Price: ₹82.48
- Stop Loss: ₹79.5
- Target Price: ₹88.5
- Visa Steel
- Entry Price: ₹35.5
- Stop Loss: ₹34.5
- Target Price: ₹38.5
Conclusion
With the Indian stock market showing positive momentum, now could be the perfect time to explore investment opportunities, especially in stocks priced under ₹100. Keep an eye on the recommendations from experts like Sumeet Bagadia to navigate your investment choices wisely.
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