Overnight Digest: Top 5 mid and small-cap stocks to watch out for December 13, 2023

Despite reaching a new all-time high after a flat opening, the Indian stock market succumbed to mild selling pressure in the later trading session. Both benchmark indices, the Nifty 50 and Sensex, closed lower by 0.43% and 0.54% respectively, indicating a dominant bearish sentiment. The NSE Advance-Decline ratio of 1:2 corroborates this, suggesting that more stocks declined than advanced.

Drilling down sectorally, the worst performers were the Realty and Oil & Gas sectors. The Nifty Realty Index plunged 1.75%, followed closely by the Nifty Oil & Gas Index with a 1.30% decline. This suggests investor concerns regarding these specific sectors. In contrast, the Nifty Media and Nifty Metals sectors displayed resilience, ending the day with gains. This highlights the relative strength and potential opportunities in these pockets of the market.

Looking beyond the headline indices, the broader markets also experienced profit-booking activity. Both the Nifty Midcap 100 and Nifty Smallcap 100 witnessed declines, reflecting the wider selling pressure across market capitalization levels. However, the Nifty Smallcap 100 managed to close slightly higher by 0.03%, demonstrating some degree of resistance compared to the Midcap index which closed 0.39% lower.

Overall, the market commentary for December 12th paints a picture of mixed sentiments. While the Nifty 50 reached a new peak, profit-taking and sector-specific concerns led to a mild selloff across most of the market. Investors should remain cautious and closely monitor the evolving market dynamics and Fed Interest Rate Decision scheduled on Dec 13, 2023

Here are the top 5 mid and small-cap stocks to watch on Wednesday, 13 December 2023:

TVS Electronics Ltd (CMP Rs 370.75)

TVS Electronics Ltd manufactures and sells Point of sale devices, Printers, Keyboards, etc. besides providing service for various Original Equipment Manufacturers via delivery models like exclusive service centres, multi brand service centres, Onsite support, repair centres and factories. Today, the stock recorded a notable increase of 6.64% in closing price and experienced a substantial surge in trading volume, exceeding 25 times its weekly average. It is advisable to consider adding this stock to your watchlist.

Inox Green Energy Services Ltd (CMP Rs 103.45)

Inox Green Energy Services Limited is one of the major wind power operation and maintenance (“O&M”) service providers within India. The company is a subsidiary of Inox Wind Limited (“IWL”), and part of the Inox GFL group of companies. The shares of this company were locked in an Upper circuit (20%) today indicating a significant increase in buying interest. Investors should keep this stock in their watchlist

Netweb Technologies India Ltd (CMP Rs 1197.30)

Netweb Technologies India is one of India‘s leading high-end computing solutions (HCS) providers, with fully integrated design and manufacturing capabilities.
Today The shares of Netweb Technologies India Ltd achieved a new 52-week high of Rs 1,203.95, demonstrating a noteworthy performance.

Atul Ltd (CMP Rs 6807.2)

Atul Ltd. is a diversified and integrated Indian chemical company and the products of the company are used in various Industries and come mainly under two segments, Life Science Chemicals and Performance and Other Chemicals. Today, LIC announced that it has increased its stake in the said company g from 4.997% to 5.117% of the paid-up capital. Do not forget to add this stock in the watchlist.

Infibeam Avenues Ltd (CMP Rs 23.25)

Infibeam Avenues Ltd, a publicly listed fintech company, announces that its flagship payment gateway brand, CCAvenue, is gearing up to introduce Bandhan Bank’s EMI facilities to over 10 million plus merchants. This strategic initiative aims to broaden the array of consumer[1]financing options available within the merchant network, signalling a concerted effort to enhance financial flexibility and convenience for businesses and merchants.

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.