Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 4, 2024

On Wednesday, the main stock market indicators ended the day in negative territory, with the Sensex dropping significantly by 0.73% to close at 71,368.97, and the Nifty also experiencing a notable decline of 0.68%, closing at 21,518.60.

Top gainers in individual stocks included Bajaj Auto, Adani Enterprises, and IndusInd Bank, while Hindalco, JSW Steel, and Tata Steel were notable losers among the Nifty 50 stocks.

Among the sectors, Nifty Realty, Nifty PSU Bank, Nifty Pharma, and Nifty Media performed well, emerging as the top gainers. On the flip side, Nifty IT, Nifty Metal, Nifty Financial Services, and Nifty Bank faced losses and were among the top losers.

Broader market indices showed modest gains, with the Nifty Midcap rising by 0.22%, and the Nifty Smallcap registering a slight increase of 0.01%.

Here are the Top 5 Mid and Small-cap Stocks to Watch for tomorrow:

Vaibhav Global Ltd (CMP Rs 432.2)

Vaibhav Global Limited, through its distinctive business model, has created a niche for itself in the global retail space, especially in the jewellery, accessories and lifestyle product segments of two of the largest economies of the world – the US and UK. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 28 times. Considering these positive signals, it’s advisable to consider adding this stock to your watchlist.

Allcargo Terminals Ltd (CMP Rs 63.90)

Allcargo Terminals operates Container Freight Stations (CFS) and Inland Container Depots (ICD) across the country, offering one of India’s widest CFS networks. Today, the company’s shares witnessed a substantial surge, reaching the upper circuit of 20%. Investors should consider adding this stock to their watchlist.

Sun Pharma Advanced Research Company Ltd (CMP Rs 387.25)

Today, SPARC Ltd witnessed a surge, reaching a new 52-week high of Rs 399. The stock closed up by more than 14.4% for the day signalling a bullish momentum. Sun Pharma Advanced Research Company Ltd is engaged in the business of research and development (R&D) of pharmaceutical products. A must-add watchlist stock.

G M Breweries Ltd (CMP Rs 706.70)

G M Breweries Ltd specializes in the production and sale of Alcoholic Beverages, including Country Liquor (CL) and Indian-made Foreign Liquor (IMFL). The company is gearing up to announce its financial results for the third quarter of the fiscal year 2024 on January 4. Notably, the company has demonstrated a remarkable compounded profit growth of 11% over 3 years, and it currently maintains a nearly debt-free status. Given these factors, investors are advised to monitor this stock closely.

KPI Green Energy Ltd (CMP Rs 1,339.40)

KPI Green Energy Ltd, engaged in solar power generation, recently announced that it secured new orders for a 2.10 MW Solar Power Plant in the Captive Power Producer (CPP) Segment. This positive development suggests potential growth for the company. Investors are recommended to consider adding the stock to their watchlist in light of this favourable news.

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.