Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 17

On Tuesday, the main stock market indices showed a negative trend, with the Sensex dropping by 0.27% to 73,128.78, and the Nifty decreasing by 0.29% to 22,032.30. The broader market indices, Nifty Midcap and Nifty Smallcap, also saw moderate declines of 0.36% and 0.48%, respectively.

In specific sectors, Nifty Metal, Nifty FMCG, Nifty Media, and Nifty PSU Bank performed well, while Nifty Realty, Nifty IT, Nifty Pharma, and Nifty Energy faced losses. Individual stocks such as BPCL, Tata Steel, and Titan gained, while Divi’s Laboratories, HCL Technologies, and Wipro experienced losses among the Nifty 50.

Oil marketing companies were in demand as crude oil prices fell. Hind Copper and National Aluminium saw increases after securing a lithium deal with Argentina.

The market breadth, represented by the advance-decline ratio of 2:5, indicates a negative sentiment in the broader market, with more stocks declining than advancing.

Here are the Top 5 Mid and Small-cap Stocks to watch for the next trading session:

• Som Distilleries & Breweries Ltd (CMP Rs 290.10)
  Som Distilleries & Breweries Ltd is set to release its Q3FY2024 results on January 16. Thus, it is advisable to add this stock to the watchlist. The company is one of the leading alcoholic beverages manufacturers in India engaged in the manufacturing and sale of Beer and Indian Made Foreign Liquor.
• MOIL Ltd (CMP Rs 335.10)
  MOIL Ltd is primarily engaged in the mining of manganese ore and is the largest manganese ore producer in the country. It is a miniratna state-owned company owned by Govt. of India. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 16 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.
• Cupid Ltd (CMP Rs 1,850.40)
  Cupid Ltd was incorporated in 1993. The company is in the business of dealing, marketing, and manufacturing rubber contraceptives and allied prophylactic products. Today, the shares of the company were locked in an upper circuit of 5% signalling bullish momentum. Thus, it is advisable to add this stock to your watchlist.
• MSTC Ltd (CMP Rs 916.90)
  MSTC Ltd undertakes trading activities, e-commerce and also disposal of ferrous and non-ferrous scrap, surplus stores, minerals, agri and forest products, etc. The company is owned and controlled by the Government of India. The shares of the company achieved a new 52-week high price of Rs 926 Thus keep this stock on your watchlist.
• Steel Strips Wheels Ltd (CMP Rs 271.90)
  Steel Strips Wheels Ltd was incorporated in 1985 and started its operations in 1991. It designs, manufactures, and supplies Steel Wheel Rims and Alloy Wheels for a wide range of domestic and global automobile makers. It is headquartered in Chandigarh. The company is releasing its Q3FY2024 results on January 17. Thus, it is advisable to add this stock to the watchlist.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.