Overnight Digest: Top 5 mid and small-cap stocks to watch out for November 29, 2023

Nifty50 kicked off the day with a gap-up opening at 19,844.65. The market saw a bullish candle formation, but it wasn’t a smooth ride – the candle had wicks on both sides, indicating a tussle between the bulls and bears.

Interestingly, In the past week, Nifty faced resistance in surpassing the high and low from the trading session on November 16th. However, after six trading sessions, it successfully closed above that mark at 19,889.70

Diving into specific sectors, the stars of the day were Nifty Oil and Gas, along with Nifty Metal, showing significant upward movement. On the flip side, Nifty Healthcare and Nifty Pharma experienced a selloff.

Zooming out to broader market indices, Nifty Smallcap 100 showed a relatively stable performance, closing up by a modest 0.30%. Meanwhile, Nifty Midcap maintained its positive momentum from the opening, closing higher by 0.54%. The market dynamics seem to be in flux, showcasing the constant tug-of-war between different sectors and market caps.

Top 5 Mid and Small-Cap Stocks to Watch Out for on Wednesday 

1. Newgen Software Technologies Ltd (CMP Rs 1344.85)
   Newgen Software Technologies is a global software company that specializes in designing and delivering end-to-end software solutions, from workflow automation to document management. The stock recently declared a bonus issue and saw a significant uptick, hitting the upper circuit. It’s advisable to include this stock in your watchlist.
2. New Delhi Television Ltd (CMP Rs 229.90)
   New Delhi Television Limited (NDTV) operates in the television media business, managing three channels, including NDTV 24×7, NDTV India, and NDTV Profit. With a notable 12.2% increase in its stock today and a weekly volume surge, of over 18 times the average, consider adding this stock to your watchlist.
3. RPSG Ventures Ltd (CMP Rs 791.85)
   RPSG Ventures hit its 52-week high and experienced a more than 13% increase in its stock today. The company operates a diverse portfolio of businesses, ranging from information technology services to FMCG, Ayurveda formulations, real estate, sports, and restaurants. All its businesses are conducted through various subsidiaries, excluding its IT services business.
4. Protean eGov Technologies Ltd (CMP Rs 1132.35)
   Formerly known as NSDL e-Governance Infrastructure Ltd, Protean eGov Technologies is involved in developing citizen-centric and population-scale e-governance solutions. Keep an eye on this stock as it is set to release its Q2 financial results on November 29th.
5. Allcargo Terminals Ltd (CMP Rs 54.75)
   Allcargo Terminals operates Container Freight Stations (CFS) and Inland Container Depots (ICD) across the country, offering one of India’s widest CFS networks. With a 4.29% increase in its stock and an impressive 41% return over this month, consider adding this stock to your 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.