Overnight Digest: These Smallcap stocks will be in focus on Friday

The Indian markets were in a wait and watch mode ahead of the Jarom Powell’s speech at the Jackson hole symposium slated to happen on 27 August. Given a monthly expiry day for the market, investors experienced a relatively calm day.  

Nifty from its all-time highs is neither showing weakness not giving a fresh breakout suggesting an indecision. The broader markets outperformed frontline indices yet again with BSE SmallCap Index gaining by 0.3 per cent on Thursday.  

Following small cap stocks will be in focus on Friday:  

52-week high: HLE Glasscoat, Dynamatic Technologies, ABB Power, Apollo Pipes, Balaji Amines, Steel Strips and Refex Industries are some of the stocks that made fresh 52-week high for themselves on Thursday. These small-caps will be in focus on Friday trading session. 

Price Volume Breakout: Jamna Auto, Swan Energy, Zen Technologies, Chaman Lal Setia and Pondy Oxide are some of the small-caps that traded higher with rising volume.  These stocks will be in limelight on Friday trading session.

Shivalik Rasayan: A bullish crossover was seen in Shivalik Rasayan on Thursday trading session. The share price has bounced from its 30D EMA in previous trading session and on Thursday the stock managed to close above the 9D MA, indicating near term bullishness. Shivalik Rasayan will be in focus on Friday trading session.  

Renuka Sugars:  The ethanol story is keeping sugar stocks in limelight. Renuka Sugars was seen locked in upper circuit on Thursday and it is now the third consecutive day when the Renuka Sugars is locked in the upper circuit. The stock has bounced from its oversold position as indicated by RSI. Renuka Sugars will be in focus on Friday. 

Esab India: The share price of Esab India jumped higher by more than 14 per cent on Thursday. The stock is up by more than 20 per cent in one month. The stock gave a multi-year breakout on Thursday and the breakout happened with a huge surge in volume. The volumes jumped by a whopping 18.13 times on BSE. The stock has broken out of a long consolidation period and hence will be in focus on Friday. 

Affle India: The share price of Affle India gained on bourses by 5 per cent after the company announced its decision of ‘Stock-split’. Only buyers were seen in Affle India on Thursday. Affle India will be in focus on Friday Trading session.