Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Thursday, December 14, 2023

In Wednesday's trading spectacle, the benchmark indices painted a canvas of optimism. The Sensex inched up by 0.05 per cent, closing at 69,584.60, while the Nifty followed suit with a 0.1 per cent gain, ending the day at 20,926.35.

In the broader market, the Nifty Mid-Cap rose by 0.88 per cent, and the Nifty Small-Cap also saw a good increase of 0.87 per cent.

As the day concluded, the India VIX, representing market volatility, decreased by 4.88 per cent, indicating a calmer market environment.

Nifty Realty, Nifty Pharma, and Nifty Auto were the stars of the day, making significant gains. On the other hand, Nifty IT, Nifty Bank, and Nifty Financial Services faced some setbacks.

Top Gainers included NTPC, Hero Motocorp, and Power Grid, while TCS, Infosys, and Axis Bank were among the Top Losers in the Nifty 50.

In this market performance, approximately 1,153 stocks moved up, painting an optimistic picture, while 885 stocks experienced declines.

The following Penny Stocks are likely to be in focus on Thursday, December 14, 2023:

Ashoka Metcast- Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 20 per cent upper circuit, recording an intraday high of Rs 25.25 per share on NSE. The company engages in the trading and manufacturing of structural steel products, encompassing items like thermo-mechanically treated (TMT) bars, angles, channels, and mild steel (MS) bars. Within its range of steel products, the company offers various options, including round bars, flat bars, and other related items.

Eurotex Industries and Exports- 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 11.55 per share on NSE. Founded in 1989, Eurotex Industries and Exports Limited is involved in the manufacturing of cotton yarn and knitted fabric.

Cyber Media (India)- A solid price volume breakout was seen at the counter today as the stock rallied and got locked at 20 per cent upper circuit to record an intraday high of Rs 24.10 per share on NSE. Established in 1982, Cyber Media (India) Ltd is a company involved in various sectors, including print media and publishing, digital marketing, content creation, analytics, and management consultancy.

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

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.