Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Wednesday, January 24, 2024

On Tuesday, the primary indices witnessed a bearish trend as the Sensex concluded the day with a significant decline of 1.47 per cent, settling at 70,370.55 levels. Similarly, the Nifty experienced a notable drop of 1.53 per cent, closing at 21,241.65 levels.

This negative sentiment extended to the broader market, with Nifty Mid-Cap plunging by 3.06 per cent and Nifty Small-Cap plummeting by 2.86 per cent.

Market volatility, as measured by India VIX, surged by 7.57 per cent, indicating an increase in market uncertainty.

In terms of sectoral performance, Nifty Pharma was a notable gainer, while Nifty Media, Nifty Realty, Nifty PSU Bank, and Nifty Metal emerged as the Top Losers.

Top Gainers among individual stocks included Cipla, Sun Pharma, and Bharti Airtel, whereas Indusind Bank, Coal India, and ONGC were among the leading losers in the Nifty 50.

The broader market sentiment remained pessimistic, with 316 stocks advancing against 1,937 stocks declining, signifying a prevailing negative sentiment in the market.

The following Penny Stocks are likely to be in focus on Wednesday, January 24, 2024:

Twentyfirst Century Management - Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 2 per cent upper circuit, recording an intraday high of Rs 39.05 per share on NSE. Established in 1986, Twentyfirst Century Management Services Ltd is actively involved in capital market investments and operates within the Futures & Options segment.

Akanksha Power and Infrastructure - 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 147.80 per share on NSE. Established in July 2008, Akanksha Power and Infrastructure Limited specializes in the manufacturing of electrical equipment, including switchboards, transformers, and vacuum contactors. The company caters to institutions, industries, and utilities.

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 7.50 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):