Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 8, 2024

On Friday, the main stock market indices in India had a positive day. The Sensex, which represents large companies, increased by 0.25% and closed at 72,026.15, while the Nifty, representing major companies on the National Stock Exchange, rose by 0.24% and closed at 21,710.80. The broader market also saw gains, with the Nifty Midcap going up by 0.18% and Nifty Smallcap by 0.65%.

Market volatility, measured by India VIX, dropped by 6.21%, suggesting a decrease in market unpredictability.

The sectors that performed well included IT, Auto, Realty, and Media. On the flip side, sectors like PSU Banks, Pharma, Metal, and Banking experienced losses.

The top gainers among individual stocks were Adani Ports, TCS, and L&T, while Nestle India, Britannia, and UPL were the top losers among Nifty 50 stocks.

Overall, more stocks were gaining (1052) than declining (1008), indicating a slightly positive sentiment in the broader market.

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

Sundaram Finance Holdings Ltd (CMP Rs 3,625.85)

Sundaram Finance Holdings Ltd is primarily engaged in the business of Investments, business processing, and support services. It has a 100% subsidiary which is an outsourcing company offering various support services to large and mid-sized firms in and outside India. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 22 times. Considering these positive signals, it’s advisable to consider adding this stock to your watchlist.

Motisons Jewellers Ltd (CMP Rs 125.2)

Today, the company’s shares of Motisons Jewellers Ltd witnessed a substantial surge, reaching the upper circuit of 5%. The company sells gold, diamond, and Kundan jewellery as well as other jewellery products. It sells pearls, silver, platinum, and other metals. Keep this stock on your watchlist.

Subex Ltd (CMP Rs 39.05)

The shares of Subex Ltd achieved a new 52-week high price of Rs 39.8. It is a software product company that works in the space of Digital Trust i.e. it is focused on privacy, security, risk mitigation, predictability, and confidence in data mainly in the telecommunication space focusing on products to communications Service Providers (CSPs) globally.

Satin Creditcare Network Ltd (CMP Rs 269.8)

Satin Creditcare Network Limited (SCNL), a leading NBFC – Micro Finance Institution (MFI) registered with the Reserve Bank of India, has entered into a Co-Lending arrangement with Karnataka Bank to provide financial support to Joint Liability Groups (JLG) of economically active women in both rural and semi-urban areas and to give impetus to the micro-credit facilities segment of the country.

NIBE Ltd (CMP Rs 722.4)

NIBE Ltd is in the business of manufacturing critical components for Defence, E-Vehicles, and Software Development. Today in a press release the company informed that it has commenced the commercial production of its State of Art and first in India 16 Mtr. VMC Machine of Zayer, Spain equipped with the latest Siemens control system. This machine is capable of machining critical large-size components like missile launchers, subframes, and launching platforms in Defence, Space, and Aerospace Applications.

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.