The Indian stock market witnessed a turbulent day on Tuesday as bearish sentiment took over, leading to sharp declines across key indices. The Nifty 50 index fell by 291 points, settling at 23,053, while the BSE Sensex experienced a dramatic drop of 1,235 points, closing at 75,838. The Nifty Bank Index also faced a severe sell-off, dropping 727 points to close at 48,623. The market’s volatility was further reflected in the broader indices, with the Nifty Mid-cap 100 falling 2.31% and the Nifty Small-cap 100 dropping 2.28%.
Sectoral Indices Suffer Across the Board
All sectoral indices closed in the red, with the steepest losses observed in the Nifty Realty, Consumer Durables, and PSU Banks sectors. The day’s trading saw a significant shift in market sentiment, with the BSE’s advance-decline ratio standing at 0.43, indicating widespread selling pressure. This marks a reversal of recent positive momentum, ending the five-day winning streak for the Mid-cap and Small-cap indices.
Intraday Stock Recommendations Under ₹100
For investors looking for stocks under ₹100, several intraday picks were recommended by market experts to navigate the volatile trading conditions. Here are the suggested stocks:
- Technichem Organics: Buy at ₹72.39, with a target of ₹78 and a stop loss at ₹70.
- Suzlon Energy: Sell at ₹58, with a target of ₹54.50 and a stop loss at ₹60.
- NMDC: Sell at ₹66.80, with a target of ₹63.90 and a stop loss at ₹68.50.
- Lloyds Engineering Works: Buy at ₹84, with a target of ₹90 and a stop loss at ₹82.