Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 9, 2024

On Monday, the main stock market indices ended the day on a down note. Sensex closed 0.93% lower at 71,355.22, and Nifty closed 0.91% lower at 21,513.

Market volatility, measured by India VIX, increased by 7.01%, indicating a decrease in market stability.

Top gainers in Nifty 50 included Adani Ports, HCL Technologies, and ONGC, while top losers were UPL, SBI, and SBI Life.

Nifty Realty and Nifty Media performed well, but Nifty PSU Bank, Nifty FMCG, Nifty Metal, and Nifty Bank were among the top losers.

The broader market also saw declines, with Nifty Midcap dropping 1.04% and Nifty Smallcap falling 0.62%.

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

Capri Global Capital Ltd (CMP Rs 872.50)

Capri Global is a diversified Non-Banking Financial Company (NBFC) with presence across different segments like MSME, Construction Finance, Affordable Housing and Indirect Retail Lending segments. The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 72 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Basilic Fly Studio Ltd (CMP Rs 461.5)

Today, the company’s shares of Basilic Fly Studio Limited witnessed a substantial surge, reaching the upper circuit of 20%. The company is a visual effects (VFX) studio headquartered in Chennai, India with subsidiaries operating in Canada and the UK. Keep this stock on the watchlist.

5Paisa Capital Ltd (CMP Rs 737)

5 paisa Capital is a fintech company having presence mainly in online discounted stock broking, depository services, research, distribution of financial products, and peer-to-peer lending. The stock has touched its new 52-weeek high price of Rs 744.3. The stock has also delivered 21.5% returns in past 5 days, with such bullish momentum in the stock it should be added to the watchlist.

Bajel Projects Ltd (CMP Rs 155)

Bajel Projects Ltd is in the business of Engineering, Procurement and Construction. Bajel Projects Limited (BPL) is a carved out legal entity from Bajaj Electricals Ltd. It’s EPC segment comprises Power Transmission & Power Distribution. The company is set to release its Q3FY2024 results on January 9 hence it is advised to add this stock to the watchlist for potential action.

Gujarat State Fertilizers & Chemicals Ltd (CMP Rs 274.3)

Gujarat State Fertilizers & Chemicals Ltd is a public sector company promoted by the Government of Gujarat. It is engaged in manufacturing of various fertilizers and industrial products like plastics & synthetic rubbers and man-made fibres. Today the company announced that it has commissioned a manufacturing plant at Fertilizernagar, Vadodara for production of Ammonium Sulphate. Thus keep the stock in 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.