Overnight Digest: Top 5 mid and small-cap stocks to watch out for May 28

On Monday, the market closed sharply off record highs as a last-hour decline in financial heavyweights dragged the market down. The Sensex fell slightly by 0.03% to close at 75,390.50, while the Nifty dropped by 0.11% to 22,932.45.

Nifty PSU Bank, Nifty Realty, and Nifty Bank closed positively, whereas Nifty Media, Nifty Energy, and Nifty Metal underperformed.

Top gainers included Divi’s Laboratories, IndusInd Bank, and Axis Bank, while Adani Enterprises, Wipro, and Grasim were the top losers in the Nifty 50.

About 790 stocks advanced compared to 1,340 declining stocks, indicating negative sentiment in the broader market. However, the broader market saw mixed performance with Nifty Midcap rising by 0.64% and Nifty Smallcap falling by 0.81%.

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

1. Balaxi Pharmaceuticals Ltd (Rs 710)
   

   Today, the shares of Balaxi Pharmaceuticals Ltd reached a new 52-week high price of Rs 734.50 signalling bullish momentum. The stock has delivered 23.38% returns in past 1 month. It is an IPR-based pharmaceutical Company engaged in producing, stocking, selling, and supplying branded and generic medicines. Add this stock to the watchlist.

2. Walchandnagar Industries Ltd (Rs 233.20)
   

   Walchandnagar Industries Ltd is a Heavy Engineering and Project execution company and has diversified business offerings across core sectors with focus on EPC & Turnkey Projects, Hi Tech Manufacturing, Engineering Products and Engineering Services. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered year till date returns of 24%. Hence given such momentum, keep this stock in your radar.

3. Nazara Technologies Ltd (Rs 685)
   

   Nazara Technologies Ltd is the leading India based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, and offerings across the interactive gaming, eSports and gamified early learning ecosystems. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 29.8 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

4. Mercury EV-Tech Ltd (Rs 70.63)
   

   Mercury EV-Tech Ltd, a manufacturer of electric vehicles for hospitality, industry, golf courses, clubs, and resorts, received approval today, to sell vehicles in Uttarakhand. The approved models are the E-Rickshaw (7-person capacity) and the E-Cart Loader (1-person capacity, 494 kg load capacity). Keep this stock on your watchlist.

5. Supriya Lifescience Ltd (Rs 360.90)
   

   Supriya Lifescience Ltd is engaged in the manufacturing of Active pharmaceutical ingredients (APIs). The company is set to release its Q4FY24 results tomorrow and the stock has delivered up 14% returns for the year till date. 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. 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.