Stocks to buy below ₹100: Sumeet Bagadia recommends three shares to buy on Monday – 3 February 2025 | Stock Market News
Source: Live Mint
Indian stock market: Indian markets ended the special Budget Day trading session on February 1 with minimal change, as investors reacted unfavorably to the capital expenditure numbers in the Union Budget 2025. The budget revealed a 9% year-on-year increase in capex for FY26, which did not meet market expectations. Economists had expected a higher allocation due to concerns about India’s weakening economy.
The Nifty 50 ended slightly lower by 0.11% at 23,482, while the Sensex remained nearly unchanged at 77,505. The Nifty Smallcap 100 index edged up 0.12% to 16,560, while the Nifty Midcap 100 index declined 0.42%, closing at 53,486. Meanwhile, the Nifty Smallcap 100 index managed to stay positive, rising 0.41% to settle at 16,979.
The Nifty FMCG index closed the session with a 3% gain, while the Nifty Consumer Durables and Nifty Auto indices also advanced, rising by 3% and 1.2%, respectively.
“Overall, Indian stock market bias is cautious as the Nifty 50 index is around 23,500. The 50- stock index has crucial support at 23,300. So , one should maintain light position and wait for a decisive break of 24,000. Hence, I suggest investors to maintain stock-specific approach and look at those stocks that are looking strong on the technical chart,” said Sumeet Bagadia, Executive Director at Choice Broking.
The stock market expert has recommended three stocks to buy under ₹100 to buy on Monday, February 3 – Khaitan (India) Ltd, Maral Overseas Ltd and Jamna Auto.
Stocks to buy
- Khaitan (India): Buy at ₹98.50 | Stop Loss: ₹93.50 | Target Price: ₹90
2. Maral Overseas: Buy at ₹82.25 | Stop Loss: ₹78 | Target Price: ₹90
3. Jamna Auto: Buy at ₹93.40 | Stop Loss: ₹88.50 | Target Price: ₹103
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
