Overnight Digest: Top 5 mid and small-cap stocks to watch out for March 18

On Friday, the stock market ended on a negative note but managed to recover from its lowest point during the day. The Sensex, a key market index, closed down by 0.62%, settling at 72,643.43 points, while the Nifty, another important index, also saw a decline of 0.56%, closing at 22,023.35 points.

Among individual stocks, UPL, Bharti Airtel, and Bajaj Finance showed gains, whereas M&M, BPCL, and Coal India witnessed losses among the Nifty 50 stocks.

Oil marketing companies faced a decrease of up to 10 percent in their stock prices due to a reduction in fuel prices. The government introduced a new electric vehicle (EV) policy aimed at attracting global companies. Meanwhile, selling pressure persisted in PSU (Public Sector Undertaking) stocks, leading to a 9% decline in the Nifty PSU index for the week.

In terms of sectoral performance, the Nifty Metal and Nifty FMCG sectors performed well, while the Nifty Auto, Nifty Energy, Nifty Pharma, and Nifty IT sectors experienced losses.

In the broader market, there was a mix of performance with the Nifty Midcap index falling by 0.46%, while the Nifty Smallcap index rose by 0.39%.

Here is the list of the top 5 mid and small-cap stocks to watch

1. Campus Activewear Ltd (Rs 232.25)

   Campus Activewear Ltd is one of India’s largest sports and athleisure footwear brands in terms of value and volume. The company manufactures and distributes a variety of footwear like Running Shoes, Walking Shoes, Casual Shoes, Floaters, Slippers, Flip Flops, and Sandals, available in multiple colors, styles, and at affordable prices. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 10 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

2. Shakti Pumps India Ltd (Rs 1,279.35)

   Shakti Pumps (India) Ltd is primarily engaged in manufacturing of pumps and motors of various kinds. The shares of the company were locked in an upper circuit of 5% for the day indicating bullish momentum. Hence add this stock to the watchlist.

3. R K Swamy Ltd (Rs 278.25)

   Shares of R K Swamy Ltd reached a new 52-week high price of Rs 288 today. The company is engaged in the business of integrated marketing communications, customer data analysis, full-service market research, and syndicated studies Thus keep this stock on the watchlist.

4. Archean Chemical Industries Ltd (Rs 596.6)

   Archean Chemical Industries Ltd is the leading specialty marine chemical manufacturer in India and is focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world. The company in its press release disclosed that, its wholly owned subsidiary, Acume Chemicals Private Limited has commissioned Phase1 of the production facility of Bromine derivative products at its manufacturing factory Given this development keep the stock in your watchlist

5. Moneyboxx Finance Ltd (Rs 241.8)

   Moneyboxx Finance Ltd, a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, has recently expanded its operations by opening new branch offices. This development took effect on March 15, 2024. Thus keep this stock in your watchlist

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.