Top 5 Affordable Stocks Under ₹100 to Buy Now Amid Trump’s Tariff Impact: Expert Recommendations

The Indian stock market faced a setback recently, primarily influenced by a drop in major banking and financial stocks. Despite the Reserve Bank of India’s (RBI) interest rate cut, investor enthusiasm remained subdued. On a particularly challenging trading day, all three major indices closed in the red: the Nifty 50 fell by 136 points, ending at 22,399, while the BSE Sensex slipped 379 points to close at 73,847. The Bank Nifty also experienced a decline, dropping 270 points to finish at 50,240.

Key Contributors to Stock Market Decline

The decline in stock prices was largely driven by significant losses in heavyweight companies. Notably, Larsen & Toubro saw a 3.4% drop, while Wipro experienced an even steeper decline of 4.3%. Additionally, both the Nifty Midcap 100 and Smallcap 100 indices faced profit-taking, falling 0.51% and 0.86%, respectively. Overall, there was a stark disparity in market performance, with declining shares outnumbering advancers, resulting in an advance-decline ratio of 0.67 on the BSE.

Market Outlook

Looking ahead, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, indicated that volatility is expected to persist in the Indian stock market until there is more clarity regarding U.S. tariffs. The upcoming quarterly earnings season may introduce sector-specific movements that could sway investor sentiment.

Influential U.S. Tariffs

The situation is further complicated by the influence of U.S. tariffs. Sugandha Sachdeva, the Founder of SS WealthStreet, highlighted the potential impact of recent developments in the U.S., where the S&P 500 surged by 9.5% on April 9, marking its most significant single-day gain since October 2008. This surge was primarily fueled by President Donald Trump’s unexpected decision to postpone the implementation of substantial reciprocal tariffs on all trading partners, excluding China.

Global Market Reactions

This positive sentiment, however, was short-lived. Following the initial rally, Wall Street indices began to retreat on April 10 amid escalating trade tensions with China. In response to U.S. tariffs, China raised its tariffs on U.S. imports from 34% to 84%, prompting retaliatory action from President Trump, who announced a tariff hike on Chinese goods to 145%. These developments have contributed to an uncertain economic climate, adding to global market volatility.

Nifty 50 Projections

Regarding the Nifty 50, Sugandha Sachdeva anticipates heightened volatility. She suggests that the benchmark index will likely reflect the movements seen in U.S. markets. An initial rise is expected, spurred by global optimism from April 9. However, resistance is anticipated in the 22,900 to 23,100 range, potentially capping further gains. Investors are advised to remain vigilant as the global trade scene continues to evolve, injecting uncertainty into the markets.

Stocks Under ₹100 to Watch

For those looking to navigate the current market conditions, several experts have identified promising stocks trading under ₹100. Notable recommendations include:

IDBI Bank: Suggested buy at ₹78.79, with a target of ₹85 and a stop loss at ₹76.
NHPC: Recommended buy at ₹84, targeting ₹90, with a stop loss set at ₹81.
NFL: Buy at ₹76, aiming for ₹79.50, with a stop loss at ₹74.40.
Ujjivan Small Finance Bank: Suggested entry between ₹38 and ₹39, with targets of ₹40.50, ₹42, and ₹44, and a stop loss below ₹37.
BL Kashyap: Buy at ₹50.50, with a target of ₹55 and a stop loss at ₹48 on a closing basis.