Stocks to buy under ₹100 | Sumeet Bagadia's stock recommendations: The key benchmark indices of the Indian stock market witnessed a strong recovery last week. After bleeding for eight straight weeks, all three key indices — Sensex, Nifty 50 and the Bank Nifty — ended higher for the second successive week. The Nifty 50 index ended 2.8% higher, while the BSE Sensex gained 2250 points last week. The Bank Nifty index gained 1.06% and finished at 55,844.
IT led sectoral gains with a 3.92% rise, while Media, Cement, Auto, Metal and PSU Bank also advanced. Mid Small Financial Services, Consumer Durables and Healthcare faced selling pressure.
Among the A-listed stocks on Dalal Street, Tata Elxsi shares were the top-gaining stocks with nearly 23% weekly gains, followed by Gallantt Ispat with 21%, 63 Moons Technologies with 20%, Tips Music, and Tech Mahindra logging around 20% gains last week.
Among the A-listed losers, KRN Heat Exchanger shares topped the list, losing around 17%, followed by Yes Bank and Avalon Technologies shares, which lost around 14% last week. Shares of HDB Financial Services lost more than 12.50%.
Sumeet Bagadia, Executive Director at Choice Broking, believes the Indian stock market bias has improved and buying at lower levels is visible. Bagadia said that Nifty 50 closed at 23,146.15, gaining 148.80 points (+0.65%)after recovering from an early decline to 22,913.80 and finishing near the day’s high. The long lower wick on the daily candle highlights buying interest at lower levels, supporting the ongoing recovery.