Top 5 stocks to buy under ₹100: NTPC Green, Jayaswal Neco, Sagility, SBFC, South Indian Bank by Sumeet Bagadia

Immediate support for the Nifty 50 index is placed at 22,250-22,400, while 22,650-22,700 remains the key resistance zone, says Sumeet Bagadia of Choice Broking

Stocks to buy | Sumeet Bagadia's stock recommendations: The key benchmark indices of the Indian stock market staged a strong rebound on Friday, October 9, bringing an end to the Nifty 50 and Sensex's eight-week losing streak. The Nifty rose 1.30%, while the Sensex advanced 1.23%. Bank Nifty also recovered, gaining 1.36%. The rally was led by IT stocks following Tata Consultancy Services' September-quarter results, with buying extending to FMCG, auto and financial shares.

The macroeconomic backdrop remains challenging. Brent crude continued to trade above $100 a barrel, while WTI remained above $90. Comments from the US president on discussions with Iran offered some temporary relief, but tensions around the Strait of Hormuz and concerns over regional energy infrastructure have kept the risk of supply disruptions elevated. For India, persistently high oil prices pose risks to inflation, the import bill and the rupee.