Overnight Digest: Small-cap and mid-cap stocks to watch on October 18, 2023

In a day marked by robust market activity, Nifty50 showcased bullish momentum, concluding the trading session on a positive note.

Nifty50 commenced the trading day at 19,843.2, and as the day unfolded, it closed at 19,811.5. Notably, this closing figure represents a gain of 79.75 points, equivalent to a 0.40% rise from the previous day’s close.

Throughout the trading day, Nifty50 reached a peak at 19,849.75, reflecting the market’s enthusiasm. On the flip side, the index touched a daily low at 19,775.65, illustrating its ability to weather fluctuations.

Among the top gainers in the Nifty50 universe were BPCL, Power Grid, Coal India, SBI Life, and HDFC Life, contributing to the index’s overall positive performance.

On the other end of the spectrum, Tata Motors, L&T, UPL, IndusInd Bank, and TCS found themselves among the day’s top losers.

Meanwhile, the Nifty Midcap 100 and Nifty Smallcap 100 were bullish throughout the day, closing up 0.35% and 0.88% respectively.

Here are the 5 mid and small-cap stocks to watch for tomorrow: 

1. RattanIndia Enterprises (CMP Rs. 56.4)
   Revolt Motors, India’s largest Electric Motorcycle company, announced the launch of India Blue – Cricket Special Edition Electric Bike. This Special Edition electric motorcycle is designed exclusively for cricket enthusiasts in India.
2. Heritage Foods Ltd (CMP Rs 254.2)
   The company’s shares saw a spurt in volume by more than 1.84 times, and it is announcing its Q2 results tomorrow. Do not forget to add it to the watchlist.
3. Datamatics Global Services Ltd (CMP Rs 599.75)
   Datamatics Unveils Cutting-edge Generative AI-powered Solutions at Gartner IT Symposium/Xpo 2023 in the USA and Europe and Shared Services and Outsourcing Week 2023, London. It is advised to keep this stock on your watchlist.
4. Chennai Petroleum Corporation Ltd (CMP Rs 585.35)
   On October 17, 2023, Chennai Petroleum Corporation Ltdreached a new 52-week high, trading at a value of 612, with a notable surge in trading volume exceeding six times its average. Keep this stock on the watchlist.
5. Shoppers Stop Ltd. (CMP Rs 797.65)
   The company is set to announce its Q2 results on October 18, so keep the stock on 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.