Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Monday, January 08, 2023

On Friday, major market indices closed the day with positive results, as the Sensex saw a moderate increase of 0.25 per cent, reaching the level of 72,026.15. Similarly, the Nifty also concluded on a positive note with a 0.24 per cent increase, ending at 21,710.80.

The broader market indices also experienced gains, with Nifty Mid-Cap rising by 0.18 per cent and Nifty Small-Cap soaring by 0.65 per cent.

Market volatility, as measured by India VIX, showed a decline of 6.21 per cent, indicating a decrease in overall market volatility.

Among the Top Gainers were Nifty IT, Nifty Auto, Nifty Realty, and Nifty Media, while Nifty PSU Bank, Nifty Pharma, Nifty Metal, and Nifty Bank were among the Top Losers.

Adani Ports, TCS, and L&T emerged as the top gainers, while Nestle India, Britannia, and UPL faced losses within the Nifty 50.

In terms of market sentiment, about 1052 stocks were advancing compared to 1008 stocks declining, suggesting a slightly optimistic outlook in the broader market.

The following Penny Stocks are likely to be in focus on Monday, January 08, 2023:

Alok Industries - 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 32.55 per share on NSE. Alok Industries is a textile company operating in both the cotton and polyester sectors. The company is involved in the manufacturing of textiles, encompassing activities such as mending and packing. Additionally, Alok Industries is engaged in the production of leather and other apparel products.

Agni Green Power - 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 33.80 per share on NSE. Established in 1995, Agni Green Power Ltd specializes in the implementation of complete Solar PV Power Plant projects on a turn-key basis. The company offers a comprehensive range of services, including Engineering, Procurement, and Construction (EPC), as well as Operations and Maintenance (O&M) services for its clients.

Bright Solar - 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 6.95 per share on NSE. Incorporated in 2010, Bright Solar Ltd is into assembling of DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photo voltaic Water pumps, consulting of Projects and tenders, Water supply and Sewerage Infra Project.

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.