The Indian stock market experienced a steady day of trading on Wednesday, marking yet another session of sideways movement. The Nifty 50 index concluded slightly lower at 24,334, while the BSE Sensex dipped by 46 points, settling at 80,242. The Bank Nifty index also saw a decline, dropping 304 points to close at 55,087. Despite the overall trend, sectors such as real estate, pharmaceuticals, and healthcare managed to post gains, while the PSU banking, media, and financial services sectors faced notable losses.

Market Performance Overview

The mid-cap and small-cap indices didn’t fare well compared to their larger counterparts. The Nifty Midcap 100 Index fell by 0.85%, and the Nifty Smallcap 100 Index experienced a more significant drop of 1.73%. This trend of declining shares continues, with the BSE advance-decline ratio standing at 0.33, marking the fifth consecutive day of more stocks declining than advancing.

Insights from Market Experts

According to Siddhartha Khemka, Head of Research at Motilal Oswal, the Indian stock market is expected to remain range-bound, influenced by sector-specific actions spurred by the upcoming Q4 2025 earnings announcements. Key results to watch include those from Adani Enterprise, Adani Ports, and Home First Finance, all reporting on Thursday, with Marico, IOB, and Godrej Properties following on Friday.

Nandish Shah, Deputy Vice President at HDFC Securities, emphasized a bullish outlook for the Nifty 50, which is currently trading above critical moving averages. He noted that immediate support is located at 24,150, with potential declines towards 23,870 if this level is breached. Resistance is anticipated in the 24,450 to 24,500 range.

On the other hand, Hrishikesh Yedve, AVP of Technical and Derivatives Research at Asit C. Mehta, indicated that the Bank Nifty has shown signs of weakness, forming a red candle after a shooting star pattern. He pointed out that 56,000 serves as a significant resistance, while 54,450 represents a crucial support level. A break below this support could trigger increased selling pressure.

Stocks to Watch Under ₹100

Looking for investment opportunities? Market analysts recommend several stocks priced under ₹100 for intraday trading:

• MMTC: Buy between ₹54 to ₹56 with targets of ₹58, ₹60, ₹62, and ₹65. Stop Loss at ₹52.

• Suzlon Energy: Buy in the range of ₹55 to ₹56.50; targets are ₹58, ₹59.50, and ₹61, with a Stop Loss set at ₹53.80.

• NMDC: Suggested buying at ₹64.40, aiming for a target of ₹67.50, with a Stop Loss at ₹63.

• HFCL: Recommended purchase at ₹79, targeting ₹90, and a Stop Loss of ₹75 (closing basis).

This strategic focus on stocks under ₹100 can provide opportunities for investors looking to capitalize on the current market conditions. Always consider your risk tolerance and conduct thorough research before making investment decisions.