The Indian stock market experienced a turbulent session on Monday, primarily influenced by the global sentiment surrounding Donald Trump’s tariffs. The Nifty 50 index opened significantly lower, marking its steepest decline since March 2020, with a staggering gap down of 5%. Despite this rocky start, the index showed resilience, ultimately closing at 22,161, down 742 points or 3.24%. The BSE Sensex plummeted by 2,226 points to finish at 73,137, while the Bank Nifty index fell by 1,642 points, concluding at 49,860.

Market Volatility and Key Indices

The trading day was tough for broader markets as well. The BSE Small-cap index tumbled by 4.13%, and the Mid-cap index dropped 3.46%, indicating a widespread sell-off. Adding to the chaos, the Indian volatility index (VIX) surged by over 65%, settling at 22.79, which reflects heightened investor anxiety.

Expert Insights on Market Trends

In light of the ongoing global trade tensions, Siddhartha Khemka, Head of Research at Motilal Oswal, indicated that volatility is likely to continue in the Indian market. He stated, "The Indian stock market is expected to remain unstable due to persistent trade issues and potential developments regarding US tariffs."

Nifty 50 and Bank Nifty Analysis

Nagaraj Shetti, a Senior Technical Research Analyst at HDFC Securities, provided insights into the Nifty 50’s performance. He emphasized that the index’s current trend is decidedly negative, with high volatility. The swing low of 21,743 is now a key support level, while immediate resistance is identified at 22,400.

On the other hand, Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C. Mehta, mentioned that the Bank Nifty successfully defended its 50-Day Exponential Moving Average support around 49,500. He noted that a sustained move above 50,750 could initiate a new rally.

Top Stock Picks Under ₹100

For those looking to invest in stocks under ₹100, market analysts have suggested several options. Sumeet Bagadia, Executive Director at Choice Broking, and Mahesh M Ojha, AVP of Research at Hensex Securities, identified promising stocks for intraday trading:

• Aksh Optifibre

  • Buy at ₹10.08
  • Target: ₹10.78
  • Stop Loss: ₹9.70

• ARSS Infrastructure Projects

  • Buy at ₹38.29
  • Target: ₹40.97
  • Stop Loss: ₹36.94
• GMR Airports
  • Buy within the range of ₹81.25 to ₹82.25
  • Targets: ₹83.50, ₹84.50, and ₹86
  • Stop Loss: ₹79.70

Conclusion

As the Indian stock market grapples with external pressures and volatility, investors are advised to keep a close watch on the key indices and expert recommendations. With strategic buying opportunities available, particularly in stocks under ₹100, there may be potential for gains amidst the market turmoil.