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Overnight Digest: Top 5 mid and small-cap stocks to watch out for December 4, 2023

01 December 20234 mins read by Angel One
On the first trading session of December the Nifty50 index breached the 20,000 mark and closed higher, while Auto sectors less than expected numbers tanked the Nifty Auto Index
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The Nifty50 commenced the day with a bullish gap-up opening at 20,194.10, signalling a strong upward momentum that has persisted for the past three trading sessions. Following a breakout from the November 16 trading session high, the Nifty has been on a sustained upward trajectory. It managed to retain its gains from the first half of the day and, after reaching its daily high, traded flat for the remainder of the session. Notably, there was a surge in volatility during the final hour of trading, culminating in a closing value of 20,267.9.

Examining sectoral indices, the standout performers were Nifty Media and Nifty PSU Bank, reflecting their robust upward movement. Conversely, Nifty Auto experienced a decline, attributed to subdued sales volume growth in November, falling below market expectations.

In terms of broader market indices, both Nifty Smallcap 100 and Nifty Midcap displayed positive momentum, closing higher by 0.48% and 1.10%, respectively. This indicates a bullish sentiment prevailing across a wide spectrum of market indices, affirming the overall positive market sentiment.

Top 5 Mid and Small-Cap stocks to watch on Monday, 4 December 2023: 

Amara Raja Energy & Mobility Ltd (CMP Rs 769.20) 

Amara Raja Batteries Limited, a leading player in the Indian storage battery industry, hit its 52-week high at Rs 799.45, signalling strong performance and heightened buyer interest. As a technology leader in manufacturing lead-acid batteries for both industrial and automotive applications, it is recommended to add this stock to your watchlist.

Shalimar Paints Ltd (CMP Rs 198.70)

Shalimar Paints Ltd, a manufacturer of decorative paints and industrial coatings with a rich history of painting iconic structures in India, experienced a notable uptrend. Closing up by over 17.8% with a significant increase in trading volume (44 times the weekly average), it reflects substantial buying interest. Investors may consider monitoring this stock closely.

Genus Power Infrastructures Ltd (CMP Rs 232.20)

Genus Power Infrastructures Limited, primarily engaged in manufacturing metering solutions and providing turnkey ‘Engineering, Construction, and Contracts,’ witnessed a positive turn in its stock performance. After a prolonged correction, the stock hit its upper circuit, indicating a potential trend reversal. This development suggests adding the stock to the watchlist for further observation.

Aurionpro Solutions Ltd (CMP Rs 1,843.35)

Aurionpro Solutions Ltd, a provider of software products and consulting services to the banking industry, secured a significant order from a large public sector bank in India. Valued at over Rs 30 Crores, the project involves the supply, installation, implementation, customization, and maintenance of iCashpro+, their Cash Management Solution. Investors may find it prudent to monitor this stock given its positive business development.

Moneyboxx Finance Ltd (CMP Rs 269.05)

Moneyboxx Finance Limited, a registered Non-Banking Financial Company (NBFC) with the Reserve Bank of India, announced the opening of its 81st and 82nd branch offices in Uttar Pradesh and Gujarat. Engaged in lending and allied activities, this expansion positions the company as a potential contender for watchlist consideration.

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

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