Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 24

On Tuesday, the primary stock market indices witness a broad-based fall. BSE-listed companies erase Market cap of Rs 8 Lakh crore today. The Sensex dropped by a significant 1.47% to finish at 70,370.55, and the Nifty saw a decline of 1.53%, closing at 21,241.65.

Broader market Indices fall more than the benchmark indices, with the Nifty Midcap 100 falling by 3.11%, and the Nifty Smallcap 100 experiencing a 2.87% drop.

Among the sectors, Nifty Pharma was the only major sector that traded positively, while Nifty Media, Nifty Realty, Nifty PSU Bank, and Nifty Metal were among the top losers.

In terms of individual stocks, Cipla, Sun Pharma, and Bharti Airtel emerged as the top gainers, whereas IndusInd Bank, Coal India, and ONGC were among the top losing stocks in the Nifty 50.

The market breadth reflected a pessimistic sentiment, with 316 stocks advancing compared to a substantial 1937 stocks in decline. This disparity underscores the prevailing negative sentiment within the broader market.

Here is the list of the Top 5 Mid and Small-cap stocks to watch out for Tomorrow, January 24, 2024

Ujjivan Small Finance Bank Ltd (CMP Rs 57.70)

Ujjivan Small Finance Bank Ltd is set to release its Q3FY2024 results on January 24. Thus, it is advisable to add this stock to the watchlist. It is a mass market focused bank in India, catering to financially unserved and underserved segments and committed to building financial inclusion in the country.

Asahi India Glass Ltd (CMP Rs 557.80)

Asahi India Glass Ltd is India’s leading value-added and integrated glass solutions company and a dominant player both in the automotive and architectural glass segments. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 52 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Borosil Renewables Ltd (CMP Rs 566.55)

Today, Borosil Renewables Ltd shares achieved a new 52-week high price of Rs 602 signalling bullish momentum. Thus, it is advisable to add this stock to your watchlist. Borosil Renewables is engaged in manufacturing extra clear patterned glass and Low Iron Solar Glass for application in Photovoltaic panels, Flat plate collectors and Greenhouses.

Mufin Green Finance Ltd (CMP Rs 195.70)

Mufin Green Finance Ltd is a Non-Banking Financial Company Non-Deposit Taking (NBFC-ND) registered with the Reserve Bank of India and is carrying on the business of Investment into shares, stocks, and securities, and providing loans of all kinds. Today, the shares of the company were locked in an upper circuit of 5% showcasing bullish momentum. Thus, it is advisable to add this stock to your watchlist.

CMS Info Systems Ltd (CMP Rs 370.20)

CMS Info Systems Limited is India’s largest cash management company in terms of the number of ATM points and retail pick-up points. The company is engaged in installing, maintaining, and managing assets and technology solutions on an end-to-end outsourced basis for banks, financial institutions, and organised retail and e-commerce companies in India. The company is set to release its Q3FY2024 results on January 24. 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.