Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Wednesday, October 18, 2023

The day concluded with both the Sensex and Nifty posting moderate gains of 0.39 per cent and 0.40 per cent, respectively. In addition, the Nifty Midcap index recorded a 0.35 per cent increase, while the Nifty Smallcap index closed notably higher, surging by 0.88 per cent.

Several sectors exhibited notable strength, with Nifty Energy, Nifty Financial Services, and Nifty PSU Bank leading the way among the top-performing sectors, while no major sectors reported underperformance.

In the Nifty 50 index, notable gainers included Power Grid, SBI Life, and BPCL, whereas Tata Motors, L&T, and UPL stood out as leading decliners.

The overall market sentiment remained positive, with approximately 1,254 stocks advancing in contrast to 759 stocks in the declining category, signifying a bullish sentiment prevailing in the broader market.

The following Penny Stocks are likely to be in focus on Wednesday, October 18, 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 29.50 per share on NSE. The scrip witnessed massive spurt in volume. Suzlon Energy Ltd manufactures wind turbine generators and related components.

Cinevista- The scrip experienced significant buying activity, resulting in the stock surging and getting locked at 20 per cent upper circuit, reaching an intraday high of Rs 20.50 per share on NSE. Cinevista Ltd is in the business of producing and exhibiting commissioned television programs, feature films, ad commercials, etc.

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 24 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.