Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Tuesday, October 17, 2023

On Monday, the Sensex and Nifty experienced marginal declines, with drops of 0.17 per cent and 0.098 per cent respectively. In contrast, the Nifty Midcap exhibited a positive trend, posting a gain of 0.21 per cent, and the Nifty Smallcap segment showed even more robust performance, concluding with a 0.37 per cent increase.

The top-performing sectors included Nifty Metal, Nifty PSU Bank, and Nifty Auto, while Nifty Realty, Nifty Media, and Nifty Pharma recorded losses. Among the constituents of the Nifty 50, leaders in terms of gains were Hero Motocorp, JSW Steel, and Tata Steel, while Nestle India, Divi’s Laboratories, and TCS saw declines.

Overall, market sentiment remained positive, with approximately 1079 stocks advancing compared to 957 stocks in the declining category, signaling a favorable outlook in the broader market.

The following Penny Stocks are likely to be in focus on Tuesday, October 17, 2023:

Suzlon Energy- Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 5 per cent upper circuit, recording an intraday high of Rs 28.10 per share on NSE. The scrip witnessed massive spurt in volume. Suzlon Energy Ltd manufactures wind turbine generators and related components.

Alps Industries- The scrip experienced significant buying activity, resulting in the stock surging and getting locked at 5 per cent upper circuit, reaching an intraday high of Rs 2.50 per share on NSE. Alps Industries is engaged in the business of textile business.

Baid Finserv- A solid price volume breakout was seen at the counter today as the stock rallied and got locked at 5 per cent upper circuit to record an intraday high of Rs 23.15 per share on NSE. Baid Finserv is a non-deposit taking NBFC carrying out the business of providing car loans, commercial vehicle loans (new & used), MSME Loans, loan against property and other asset backed loans.

Here is the list of volume breakout penny stocks that witnessed heavy buying in today’s session (in NSE):  

Disclaimer: The article is for informational purposes only and not investment advice.