Overnight Digest: Top 5 mid and small-cap stocks to watch out for March 22

On Thursday, a dovish stance from the Fed and positive global signals prompted widespread buying in the market. The Sensex surged by 0.75%, ending the day at 72,641.19, while the Nifty rose by 0.79% to close at 22,011.95. BSE-listed companies collectively added Rs 5 lakh crore in market capitalization.

Leading the gainers were sectors like Nifty Realty, Nifty Metal, Nifty PSU Bank, and Nifty Energy, with no major sectors underperforming

Among the top performers in the Nifty 50 were BPCL, NTPC, and Power Grid, while Bharti Airtel, HDFC Life, and ONGC were among the top losers

The broader market also saw significant gains, with the Nifty Midcap climbing by 2.14% and the Nifty Smallcap surging by 2.57%.

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

1. Max Estates Ltd (Rs 259.70)
   Max Estates Ltd is the real estate development arm of Max Group. Company is a leading Real Estate player in Delhi-NCR. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 13 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.
2. Chemfab Alkalis Ltd (Rs 658)
   Chemfab Alkalis Ltd is in the business of manufacturing basic inorganic chemicals and PVCO pipes. The shares of the company were locked in an upper circuit of 10% for the day indicating increased buyer interest. Hence add this stock to the watchlist.
3. The Hi-Tech Gears Ltd (Rs 606)
   Today, the shares of The Hi-Tech Gears Ltd reached a new 52-week high price of Rs 610, signalling bullish momentum. The company is an auto components manufacturer primarily engaged in the business of manufacturing gears and transmission components.
4. Dhanuka Agritech Ltd (Rs 950.7)
   Dhanuka Agritech Ltd, known for its diverse agro-chemical range, has inked a Memorandum of Understanding with the Indian Council of Agricultural Research. This collaboration aims to foster scientific and technical cooperation for national research projects across various agricultural institutions. Given this development keep the stock in your watchlist
5. Asian Energy Services Ltd (Rs 284.55)
   Asian Energy Services Ltd is an oilfield service and reservoir imaging company, offering a suite of geophysical services specializing in land and well seismic services and operation and maintenance services for oilfields. Their stock has been consistently rising, hitting the upper circuit for three consecutive days and delivering a return of 23.5%. Over the past year, the stock has seen an impressive return of around 172.65%, indicating strong bullish momentum. It’s advisable to keep this stock in 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.