Overnight Digest: Top 5 mid and small-cap stocks to watch out for December 18, 2023

The Nifty50 index displayed a strong start, opening with a Gap up, and the bullish momentum from the previous day continued, propelling it to a new all-time high of 21,492.3. The day saw Nifty maintaining its upward trajectory, closing at 21,456.65, marking a 1.29% increase from the previous day’s close. The bullish trend was evident in the formation of a robust candle with small wicks on both sides, indicating heightened buying interest among Nifty50 stocks.

Top gainers and losers

In terms of stock performance, the IT sector dominated the list of top gainers, featuring Infosys, HCL Tech, TCS, State Bank of India, and Tata Steel. On the flip side, HDFC Life, Nestle India, Bharat Airtel, SBI Life, and Bajaj Auto were among the top losers for the day.

Among sectoral indices, the IT sector continued to attract substantial buying interest, mirroring the trend observed in the previous session. Nifty PSU banks also witnessed positive traction, while Nifty Realty and the FMCG sector experienced a negative close.

Taking a look at the broader markets, the Nifty Midcap 100 and Nifty Smallcap 100 indices exhibited diverse sentiments. The Midcap Index posted a marginal gain of 0.11%, whereas the Smallcap Index closed with a more significant increase of 0.71%. This indicates varying market dynamics within different market segments.

Here are the top 5 mid and small-cap stocks to watch on Monday:

Kiri Industries Limited (CMP Rs 351.70)

Kiri Industries, involved in manufacturing dyes and chemicals, saw its shares locked in an upper circuit, gaining 20% with a significant surge in trading volume. This makes it a potential stock to watch.

Rishabh Instruments Ltd (CMP Rs 557.85)

Rishabh Instruments achieved a new 52-week high, reaching Rs 570.80, indicating strong momentum. With three decades of experience in manufacturing test and measuring instruments, the company shows strength in its fundamentals. 

JM Financial Ltd (CMP Rs 101.06)

JM Financial, a diversified financial services group, announced the appointment of Mr. Chirag Negandhi and achieved its 52-week high, closing up 13.54%. The company engages in mortgage lending, distressed credit, asset management, and investment banking.

Kamat Hotels India Ltd (CMP Rs)

Kamat Hotels India, part of the Kamats Group, announced the opening of IRA by Orchid in Maharashtra. With a focus on hospitality, this development makes Kamat Hotels a stock to add to the watchlist.

Oriental Trimex Ltd (CMP Rs 9.95)

Oriental Trimex, involved in the trading and processing of marble and mining of granite, reached its new 52-week high of Rs 9.95 after locking in an upper circuit. Investors are advised to keep an eye on this stock as it shows potential to break its one-year consolidation zone.

 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.