Overnight Digest: Top 5 mid and small-cap stocks to watch out for August 1

On Tuesday, the market exhibited positive sentiment, with the Sensex rising by 0.35% to reach 81,741.35, while the Nifty increased by 0.38%, breaking the 24,951.15 mark. The broader market displayed mixed results; the Nifty Mid-cap closed up by 0.63%, whereas the Nifty Small-cap saw a decline of 0.36%.

Market volatility, as measured by India VIX, surged by 2.87%, closing below 14, indicating heightened volatility. In the sectoral space, Nifty Pharma and Nifty Media emerged as top gainers, while Nifty PSU Bank was the major underperformer.

The overall market breadth was positive, with 2,121 stocks advancing compared to 1,833 declining, further reflecting the positive market sentiment.

Here is the list of the top 5 mid and small-cap stocks to watch

Central Depository Services (India) Ltd (Rs 2,510.00)

CDSL Ltd’s shares hit a new high at Rs 2,594.20 indicating strong upward momentum. With a 38.04% year to date returns, the company is a Market Infrastructure Institution (MII), part of the capital market structure, providing services to all market participants. Add this stock to the watchlist.

PC Jeweller Ltd (Rs 93.87)

PC Jeweller Ltd Is one of the leading global renewable energy solutions providers. It is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond-studded jewellery and silver items and operates in different geographical areas. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered a return of 83% in the past month. Hence given such momentum, keep this stock in your radar.

Jayaswal Neco Industries Ltd (Rs 684.00)

Jayaswal Neco Industries Ltd is a producer of Iron & steel castings. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 36.72 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Torrent Power Ltd (Rs 1,865.00)

Shares of Torrent Power Ltd closed up by 16.47% today, indicating heightened investor activity. The stock has delivered a year-to-date return of 97% and reached a new 52-week high of Rs 1,908.00. Torrent Power Ltd Is a leading integrated power utility company in India with presence across generation, transmission and distribution of power. It is advisable to keep this stock on your watchlist.

Sansera Engineering Ltd (Rs 1,419.00)

Sansera Engineering Ltd Is an engineering-led manufacturer of complex and critical precision engineered components across automotive and non – automotive sectors. The Government of Karnataka has allocated 55 acres of industrial land in Harohalli, Ramanagara, to Sansera, which plans to invest approximately Rs 2100 Crores over 3-5 years. The company has delivered year till date returns of 35%. Given this positive development, it is prudent to closely monitor the stock.

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.