5 Promising Mid and Small-Cap Stocks for Your November 2, 2023 Watchlist
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| Over the past two trading sessions, the Nifty50 faced significant selling pressure, resulting in a sharp downturn |
Over the past two trading sessions, the Nifty50 faced
significant selling pressure, resulting in a sharp downturn. The day began with
the Nifty opening at 19,064.05 and reaching a high of 19,096.05 during the
session. However, it later dropped to a low of 18,973.70. By the end of the
trading day, the Nifty settled at 18,989.15, marking a notable decline of 90.45
points, representing a 0.47% decrease compared to the previous day's closing.
A closer look at the market's movers and shakers revealed
interesting trends. Sun Pharma, BPCL, and HDFC Life emerged as top gainers,
displaying resilience in the face of broader market turmoil. Conversely, Adani
Enterprises, Coal India, and Tata Steel found themselves in the losing
category, grappling with significant setbacks.
Expanding our view to include broader market indices, the
Nifty Smallcap 100 experienced a relatively modest decline, closing with a loss
of 9.15 points, equivalent to a -0.07% change. Similarly, the Nifty Midcap 100
saw a decrease of 101.85 points, resulting in a -0.26% decline, reflecting a
prevailing cautious sentiment across various market segments.
As market participants navigate these challenging
conditions, they will keep a close watch on critical developments, both
domestic and global, that have the potential to influence the market's
direction in the coming days.
5 Promising Mid and Small-Cap Stocks
Geojit Financial Services Ltd (Current Market Price: Rs
64.7)
Geojit Financial Services achieved a new 52-week high today
at Rs 69.20 and closed with a remarkable 7.67% gain, indicating significant
buying activity. Trading volume surged by more than 11 times. Make sure to add
it to your watchlist.
Peninsula Land Ltd (Current Market Price: Rs 47.75)
Peninsula Land Ltd has reached its all-time high price and
has delivered an impressive 237.26% return to investors over the past year.
This multibagger stock unquestionably merits a place on your watchlist for
tomorrow.
Sundaram Finance Holdings Ltd (Current Market Price: Rs
129.85)
Sundaram Finance Holdings Ltd is set to reveal its Q2FY24
results tomorrow. With the company having almost no debt, a TTM profit growth
of 45%, and a 3-year stock price compound annual growth rate (CAGR) of 39%, it
is highly recommended to consider adding this stock to your watchlist.
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