Overnight Digest: Top 5 mid and small-cap stocks to watch out for November 6, 2023

In today’s market action, the Nifty 50 has demonstrated its resilience by closing on a positive note for the second consecutive day. Opening at 19,241, it reached a high of 19,276.25 and briefly touched a low of 19,210.9 before settling at 19,230.6, marking an impressive gain of 97.35 points, equivalent to a 0.51% increase from yesterday’s closing figure.

Today’s trading session, much like the previous day, was characterized by a small-bodied candle with wicks on both sides. This pattern indicates market indecision, which can be attributed to the influence of global cues. The investment community remains cautious, reflecting a wait-and-see approach to the current economic landscape.

Among the top gainers in today’s market were Apollo Hospitals, Eicher Motors, Adani Ports, Titan, and LTI Mindtree, showcasing their strength and resilience in a potentially uncertain environment. On the flip side, Top Losers were Bajaj Finserv, SBI Life, Dr Reddy, IndusInd Bank, and Bajaj Finance.

The bullish momentum in realty stocks was evident as the Nifty realty sectoral index closed with an impressive gain of 2.54%. This positive performance underscores the strength in real estate companies, potentially fueled by increased investor interest and demand in the sector.

Looking beyond the Nifty 50, the broader market indices also fared well, with the Nifty Smallcap 100 closing up 1.21% and the Nifty Midcap 100 closing up 0.70%. These gains in the small and mid-cap segments indicate a more widespread optimism in the market, not limited to large-cap stocks.

Here are the Top 5 Mid-cap and Small-cap Stocks to watch out for on Monday, 6 November 2023:

1. Suven Life Sciences Ltd (CMP Rs 77.95): The company is set to release its Q2FY2024 results on November 4. Promoter Holding has increased from 64.98% in September 2022 to 69.56% in September 2023. It’s advisable to include this stock in your watchlist.
2. Privi Speciality Chemicals Ltd (CMP Rs 1,219.50): The company is set to release its Q2FY2024 results on November 6. Over the past three years, the company’s stock has delivered a 31% return to investors, making it a noteworthy addition to your watchlist.
3. Aditya Birla Money Ltd (CMP Rs 109.15): The company achieved a new 52-week high today at Rs 111 and closed with an impressive 8.99% gain, indicating significant buying activity. Trading volume surged by more than 5 times. Be sure to add it to your watchlist.
4. Tilaknagar Industries (CMP Rs 242.9): The stock has reached its all-time high price of Rs 248.25 and has delivered an impressive 123% return to investors over the past year. This multibagger stock undoubtedly deserves a spot on your watchlist for tomorrow.
5. 3i Infotech Ltd (CMP Rs 37.50): 3i Infotech, a global Information Technology company committed to accelerating business transformation, has recently been recognized as an ‘Aspirant’ in the cloud services in Insurance PEAK Matric Assessment 2023. This recognition strengthens the company’s pathbreaking work through its CloudFirst approach and state-of-the-art services in the insurance sector. 3i Infotech has also partnered with InsureMO to further expand its foothold and services in the insurance domain. It is highly recommended to include this stock in 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.