Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 29

On Thursday, the main stock market indices ended the day on a negative note. The Sensex, a key index, closed down by 0.51% at 70,700.67, and the Nifty, another important index, dropped by 0.84% to 21,352.60. The Nifty Bank also saw a decline of 216 points, closing at 44,866.

In terms of sector performance, Nifty Energy, Nifty Realty, Nifty Media, and Nifty Metal showed gains, whereas Nifty IT, Nifty Pharma, Nifty FMCG, and Nifty Financial Services experienced losses.

Top gainers among individual stocks included Bajaj Auto, Adani Ports, and NTPC, while top losers were Tech Mahindra, Cipla, and Bharti Airtel from the Nifty 50 list.

In the broader market, the Nifty Mid-cap index closed down by 0.77%, while the Nifty Small-cap index increased by 0.43%.

Here is the list of the Top 5 Mid and Small-cap stocks to watch

Gateway Distripacks Ltd (Rs 109.45)

Gateway Distripacks is an integrated inter-modal logistics service provider. It has a network of 9 Inland Container Depots and Container Freight Stations strategically located across the country, operating a fleet of 31 trainsets along with 500+ trailers for transportation between its facilities and maritime ports, as well as first & last mile connectivity to provide end to end solutions to the EXIM industry. The company is set to release its Q3FY2024 results on January 29. Thus, add this stock to the watchlist.

JSW Holdings Ltd (Rs 5,520.25)

JSW Holdings Ltd is a core investment company (CIC) and is primarily engaged in the business of investing and financing. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 45 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Dhanlaxmi Bank Ltd (Rs 51.20)

Dhanlaxmi Bank Ltd is a publicly held banking company engaged in providing a wide range of banking and financial services including retail banking, corporate banking, and treasury operations with a major concentration in Southern states. Today, the shares of the bank were locked in an upper circuit of 10%. The stock has delivered 66% year to date showcasing strong bullish momentum. Thus, keep this stock on your watchlist.

Ashoka Buildcon Ltd (Rs 161.90)

Ashoka Buildcon Ltd is engaged in the business of construction and infrastructure facilities on an EPC and BOT basis. It is also involved in the sale of RMC. The stock has achieved a new 52-week high price of Rs 169 after the acceptance of the Contract yesterday from CIDCO for constructing a stilt bridge with a contract valued at Rs 662.55 crore. It is worth keeping this infra sector stock on the watchlist.

Zen Technologies Ltd (Rs 726)

Zen Technologies Ltd is set to release its Q3FY2024 results on January 27. Thus, it is advisable to add this stock to the watchlist. The company designs, develops and manufactures combat training solutions and Counter-drone solutions for defence and security forces. It is actively involved in the indigenization of technologies, which are beneficial to Indian armed forces, state police forces, and paramilitary forces.

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.