Stocks to buy under ₹100: Experts recommend four shares to buy today — 16 April 2025

Stocks to buy under ₹100: Following strong global markets' sentiments on Trump's tariff reprieve, the Indian stock market ended higher for the second straight session on Tuesday. Among the frontline indices, the Nifty 50 index opened upside at 23,368, its intraday peak. The benchmark index sustained higher levels and closed at 23,348, logging an intraday gain of 519 points. After ending at 23,348, the 50-stock index registered a 949-point gain in the last two straight sessions. The BSE Sensex opened northward at 76,852 and closed at 76,792 levels, logging an intraday gain of 1,634 points and an increase of 2,945 points in two straight sessions. The Bank Nifty index opened upside at 52,299 and ended at 52,379 levels, logging an intraday gain of 1,377 points. After ending at 52,379 levels, the Bank Nifty index logged almost 2,150 points gain in two straight sessions.

This Dalal Street rally is participatory as buying also occurred in the broad market. The BSE Small-cap index ended at around 3.20% upward, while the Mid-cap index surged by nearly 3% during Tuesday deals.

Stock market today

Speaking on the outlook for the Indian stock market today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, "We expect positive momentum to continue in the market, on hopes of global trade settlements and softening in US reciprocal tariffs. Meanwhile, stock- or sector-specific action can be seen in the back of quarterly results and insights from management commentary."

On the outlook of the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The near-term uptrend of the Nifty 50 index remains intact. The next upside targets to be watched are around 23,650 and 23,870 in the next 1-2 weeks. Immediate support for Nifty today is placed at 23200."

Asked about the outlook of the Bank Nifty today, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said, "The Bank Nifty index opened with a gap-up, held strong bullish momentum, and settled at 52,380. Technically, the Bank Nifty index decisively crossed the key resistance of 52,000 levels and formed a small green candle on the daily chart, indicating strength. The breakout level of 52,000 will now act as immediate support, and as long as the index sustains above this level, it has the potential to rally towards 52,700-52,800 levels, where the trend line resistance is placed. Hence, traders are advised to adopt a "buy on dips" strategy."

Stocks to buy under ₹100

Regarding shares to buy under ₹100, market experts — Mahesh M Ojha, AVP — Research at Hensex Securities; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment and Securities — recommended these four intraday stocks for today: Confidence Petroleum India, Paramount Communications, Canara Bank, and SBFC.

Mahesh M Ojha's shares to buy under ₹100

1] Confidence Petroleum India: Buy at ₹52 to ₹53.25, targets ₹54.50, ₹56, and ₹58, stop loss ₹50.80; and

2] Paramount Communications: Buy at ₹50 to ₹51.25, targets ₹52.50, ₹54, and ₹55, stop loss ₹49.

Sugandha Sachdeva's intraday stock for today

3] Canara Bank: Buy at ₹92, target ₹94.20, stop loss ₹92.

Anshul Jain's stock to buy today

4] SBFC: Buy at ₹94, target ₹98, stop loss ₹92 (Closing Basis).

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.