Overnight Digest: Top 5 mid and small-cap stocks to watch out for February 7

On Tuesday, the main stock market indexes ended the day higher. The Sensex, which tracks large companies, went up by 0.63% to close at 72,186.10, while the Nifty, which tracks the top 50 companies, rose by 0.72% to end at 21,929.40.

Oil companies saw their stocks reach record highs, gaining between 5% and 7%. The overall market was in the green mainly due to strong performances by IT giants like TCS and Infosys. This positive trend was supported by gains in the technology sector, following good news from global markets.

Eight Nifty stocks, including HCL, TCS, ONGC, and Infosys, reached their highest levels in 52 weeks or even longer.

Except for the FMCG and banking sectors, all other sectors saw gains, with IT, Pharma, and Auto sectors reaching record levels. The Tata group’s market capitalization crossed Rs 30 lakh crore, mainly due to TCS’s significant performance.

Top gainers from the Nifty 50 included BPCL, HDFC Life, and HCL Technologies, while Power Grid, Britannia, and IndusInd Bank were among the top losing stocks.

Both Midcap and Small Cap indices reached record highs, driven by strong gains in public sector companies with the Nifty Midcap going up by 1.22% and the Nifty Smallcap rising by 0.81%.

Here is the list of the Top 5 Mid and Small-cap stocks to watch

• Aether Industries (Rs 856.4)
  Aether Industries Limited is a manufacturer of speciality chemicals. The company has ordered today execution of a 15 MW Solar Power Project (Auto-Tracker Modules) under the Captive Power Producer (CPP) segment to M/s. KPIG Energia Private ltd. This will fulfil the energy requirement of the Company’s manufacturing facilities vide replacing/substituting the conventional energy sources with renewable energy sources.
• Jindal Worldwide Limited (Rs 346.05)
  Jindal Worldwide Ltd is engaged in the textile sector and its main business activities are related to the manufacturing of Denim fabric, premium shirtings, yarn dyeing, bottom weights and home textiles through its various internal divisions. The stock experienced a significant surge in trading volume today, surpassing its weekly average by almost 32 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.
• Triveni Turbine Ltd (Rs 424.80)
  Triveni Turbine Ltd is primarily engaged in the business of manufacture and supply of power-generating equipment and solutions. Today, the shares of the company were locked in an upper circuit of 20% showcasing strong bullish momentum and went into a positive YTD returns trajectory. Thus, keep this stock on your watchlist.
• Jamna Auto Industries Ltd (Rs 131.65)
  Jamna Auto Industries Ltd is a suspension manufacturer and supplier for all segments of commercial vehicles. The stock reached a new 52-week high price of Rs 135.35. The stock has delivered 8.32% returns YTD. Keep this stock on the watchlist.
• Aarti Pharmalabs Ltd (Rs 550.25)
  Aarti Pharmalabs Ltd is a manufacturer of Pharmaceuticals and Nutraceuticals. Today the shares of the company saw spurt in volume by more than 2.83 times. As the company is set to release its Q3FY2024 results on February 7, It is advised to add this stock to the 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.