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

On Wednesday, the primary stock indices concluded the trading day on a downward trajectory, with the Sensex experiencing a substantial decline of 2.23%, settling at the level of 71,500.76. Concurrently, the Nifty witnessed a 2.09% plunge, closing at 21,571.95.

Notably, Nifty IT emerged as the sole major sector exhibiting positive trade dynamics, whereas Nifty Bank, Nifty Financial Services, Nifty Metal, and Nifty PSU Bank stood out as the prominent losers.

Leading the gainers’ list were HCL Technologies, SBI Life, and LTIMindtree, while HDFC Bank, Tata Steel, and Kotak Bank found themselves among the top losers in the Nifty 50.

HDFC Bank’s dismal performance contributed to a more than 50% decline in both Nifty and Nifty Bank. HDFC Bank reported its worst day in three years, witnessing an over 8% drop following disappointing earnings, resulting in an erosion of Rs 1 lakh crore in market capitalization.

Likewise, broader indices experienced a significant downturn, with Nifty Midcap witnessing a 1.08% plunge, and Nifty Smallcap recording a decline of 1.2%.

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

Innova Captab Ltd (CMP Rs 517.75)

Innova Captab Ltd is set to release its Q3FY2024 results on January 18. Thus, it is advisable to add this stock to the watchlist. The company is a pharmaceutical company is an integrated pharmaceutical company in India with a presence across the pharmaceutical value chain.

Ganesh Housing Corporation Ltd (CMP Rs 513.95)

Ganesh Housing Corporation Ltd has built a strong presence in and around Ahmedabad. GHCL has developed and sold over 22 million sq. ft. of real estate space, with another 2.5 million sq. ft. currently under development. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 30 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Vertoz Advertising Ltd (CMP Rs 689.55)

Vertoz Advertising Ltd is an ad-tech Co. that offers data-driven marketing, advertising and monetization solutions to Digital Marketers, Advertising Agencies and Digital Media businesses using the latest technologies. Today, the shares of the company were locked in an upper circuit of 10% signalling bullish momentum. Thus, it is advisable to add this stock to your watchlist.

TV18 Broadcast Ltd (CMP Rs 65.45)

TV18 Broadcast Ltd is engaged in activities spanning across Broadcasting, Digital Content and Allied Businesses. The shares of the company achieved a new 52-week high price of Rs 68.55 Thus keep this stock on your watchlist.

Ksolves India Ltd (CMP Rs 1,323.15)

Ksolves India Ltd is engaged in software development, enterprise solutions, consulting & providing IT solutions to companies across sectors such as Real Estate, E-commerce, Finance, Telecom and Healthcare etc. The company is releasing its Q3FY2024 results on January 18. 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.