Top 5 Small-Cap and Mid-Cap Stocks to Watch on Monday, February 05, 2024

On Friday, the main stock indices ended the day positively, with the Sensex closing 0.61% higher at 72,085.64, and the Nifty rising by 0.72% to close at 21,853.80.

Among the top gainers were Nifty Energy, Nifty Metal, Nifty PSU Bank, and Nifty IT, contributing to the positive market sentiment. On the flip side, Nifty Bank, Nifty Financial Services, and Nifty FMCG were among the top losers for the day.

Individual stock movements revealed BPCL, Power Grid, and ONGC as the top gainers, while Eicher Motors, Axis Bank and HDFC Life faced losses among the Nifty 50 stocks.

In the broader market, the Nifty Midcap showed a modest gain of 0.37%, while the Nifty Smallcap soared by 0.93%. Market volatility, measured by India VIX, saw a slight uptick of 1.68%, indicating a small increase in market uncertainty.

Looking at the overall market sentiment, around 1249 stocks were advancing, compared to 991 stocks declining. This suggests a cautious or pessimistic outlook prevailing in the broader market. Investors may be adopting a measured approach amid the current market conditions.

Here is the list of the Top 5 Mid and Small-cap stocks to watch   

1. Oriental Hotels Ltd (Rs 135.20)

Oriental Hotels Ltd is primarily engaged in the business of owning, operating & managing hotels, palaces and resorts.  The stock experienced a significant surge in trading volume today, surpassing its weekly average by almost 10 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

2. Crest Ventures Ltd (Rs 486.20)

Crest Ventures Ltd is a non-deposit-taking NBFC registered with the RBI. It is engaged in the business of real estate and related services, financial services, investment and credit operations. Today, the shares of the company were locked in an upper circuit of 20%. The stock has delivered 68.61% year to date showcasing strong bullish momentum. Thus, keep this stock on your watchlist.

3. Advanced Enzyme Technologies Ltd (Rs 387.30)

Today the shares of Advanced Enzyme Technologies Ltd achieved a new 52-week high of Rs 394.90 after breaking its previous 52-week high of Rs 391.95 made on January 18, 2024. The company is engaged in the business of manufacturing and sales of enzymes.

4. Computer Age Management Services Ltd (Rs 2,885.20)

CAMS, a leading provider of financial technology solutions, has expanded its AI-powered digital customer onboarding solutions to the insurance sector by securing a major mandate from Oriental Insurance Company Limited (OICL). CAMS Insurance Repository Services Limited, a wholly owned subsidiary of CAMS and the 2nd largest Insurance Repository in India won the digital KYC mandate from OICL, its first non-life insurance client. This mandate marks one of the largest KYC contracts for CAMS Rep and signifies its strong entry into the non-life insurance sector.

5. Balu Forge Industries Ltd (Rs 272.15)

Balu Forge Industries Ltd is engaged in the manufacturing of fully finished and semi-finished forged crankshafts and Forged Components. It can manufacture components conforming to the New Emission Regulations & the New Energy Vehicles. The company is set to release its Q3FY2024 results on February 3.Thus, 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.