Stocks to buy under ₹100: Experts recommend five shares to buy today — 28 January 2025

Stocks to buy under ₹100: After showing weakness from the highs on Friday, the Indian stock market witnessed a sharp sell-off on Monday. The Nifty 50 index crashed 263 points and closed at the 22,829 mark, the BSE Sensex nosedived 824 points and ended at 75,366, while the Bank Nifty Index corrected 303 points and finished at 48,064. Relentless FII selling with over ₹70,000 crore outflow for the month added to the negative market sentiment. The broader market took a severe hit, with the Nifty Midcap 100 and the Smallcap 100 plunging as much as 2.8% and 3.8%, respectively. Donald Trump's threat of imposing a 25% tariff on Colombia over repatriating Colombian immigrants from the US weighed on the market. Nasdaq futures slumped, and Japanese tech stocks declined, reflecting concerns over Chinese start-up DeepSeek's cost-efficient AI model, which is posing threats to the business models of US tech giants like Nvidia, OpenAI and Google.

Stock market today

On the outlook for the Indian stock market today, Siddhartha Khemka, Head of Research—Wealth Management at Motilal Oswal, said, "With global market weakness and anxiousness around Trump's trade policy, Indian equities are expected to remain under pressure in the near term. For further cues, investors will closely monitor the upcoming Q3 results, Federal Reserve's stance, and India's Budget announcements during this six-day trading week."

On the Nifty 50 index outlook, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The short-term trend of Nifty continues to be negative. The market is now at the support of around 22700-22650 levels (near 38.2% Fibonacci retracement). Immediate resistance for Nifty today is placed at 23,000 levels."

Asked about the Nifty Bank outlook, Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta, said, "The Bank Nifty index also opened with a gap down but showed buying interest near its previous swing low before closing negatively at 48,065. On the technical front, Bank Nifty found support near the recent swing low of 47,900. Sustaining above this level could pave the way for a pullback rally toward 49,000. However, a breakdown below 47,900 may lead to further downside, with the potential to test 47,000 in the short term."

Stocks to buy under ₹100

Regarding intraday stocks under ₹100 today, market experts Sugandha Sachdeva, Founder of SS WealthStreet; Mahesh M Ojha, AVP — Research at Hensex Securities; and Anshul Jain, Head of Research at Lakshmishree Investment and Securities, recommended these five shares: Niva Bupa Health Insurance, South Indian Bank, Canara Bank, IOB, and Medico Remedies.

Sugandha Sachdeva's intraday stocks for today

1] Niva Bupa Health Insurance: Buy at ₹74.80, target ₹76.80, stop loss ₹73.50; and

2] South Indian Bank: Buy at Rs24.20, target ₹25.30, stop loss ₹23.60.

Mahesh M Ojha's shares to buy under ₹100

3] Canara Bank: Buy at ₹91 to ₹92, targets ₹94, ₹96, ₹98, ₹100, stop loss below ₹88; and

4] IOB: Buy at ₹50 to ₹50.25, targets ₹51.75, ₹53, and ₹55, stop loss below ₹48.40.

Anshul Jain's buy or sell stock

5] Medico Remedies: Buy at ₹72.20, target ₹78, stop loss ₹70.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.