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On Wednesday, the market showed muted sentiment. The benchmark indices concluded the trading day on a negative note, with the Sensex dipping by 0.35% to 80,148.89, and the Nifty dropping by 0.27% to 24,413.50.
However, the broader market experienced gains, with the Nifty Mid-cap closing up by 1.04% and the Nifty Small-cap rallying by 1.76%.
Market volatility, as indicated by India VIX, reduced by 7.73%, closing below 12, reflecting a decrease in market volatility. Within the sectoral landscape, Nifty Media and Nifty Realty were among the top gainers, while Nifty Bank, Nifty Financial Services, and Nifty FMCG were among the top losers.
About 2,802 stocks were advancing compared to 1,094 that were declining, indicating a mixed sentiment in the broader market.
Here is the list of the top 5 mid and small-cap stocks to watch
Apex Frozen Foods Ltd’s shares hit a new high at Rs 312.07, indicating strong upward momentum. With a 35% return in the past month, the company is an integrated producer and exporter of shelf stable quality aquaculture products. The shares of the company were also locked in an upper circuit of 20%, the reason can be attributed to the government’s focus on shrimp exports which was announced in the budget 2024. Add this stock to the watchlist.
IFCI Ltd is an Indian Government owned non banking finance company established to cater to the long-term finance needs of the industrial sector. Shares of the company were locked in an upper circuit of 20% for the day indicating increased buyer interest. The stock has delivered year till date returns of a whopping 189.48%. Hence given such momentum, keep this stock in your radar.
Thyrocare Technologies Ltd Is engaged in the business of healthcare industry and is involved in providing quality diagnostic services at affordable costs to patients, laboratories and hospitals in India. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 40.24 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.
Shares of Avanti Feeds Ltd closed up by 14.05% today, indicating heightened investor activity. The stock has delivered a year-to-date return of 68.27% and reached a new 52-week high of Rs 764.40. The company manufactures and sells shrimp feed, and exports processed shrimp. It is advisable to keep this stock on your watchlist.
Tips Industries Ltd,is engaged in the business of Production and Distribution of motion Pictures and acquisition and exploitation of Music of Rights, announced in its board meeting today that it has recommended a dividend of 200% per share. The company has set August 1, 2024, as the “Record Date” to determine the shareholders eligible for the dividend. Given this positive development, it is prudent to closely monitor the stock.
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.
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