Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Wednesday, January 31, 2024

On Tuesday, the frontline indices wrapped up the day on a negative trajectory, witnessing a significant downturn. The Sensex concluded substantially lower by 1.11 per cent, settling at the 71,139.90 level, while the Nifty experienced a noteworthy drop of 0.99 per cent, closing at 21,522.10 level.

In contrast, the broader market displayed mixed performance, with the Nifty Mid-Cap closing moderately lower by 0.39 per cent, while the Nifty Small-Cap showed a slight increase of 0.23 per cent.

Market volatility, gauged by India VIX, witnessed an uptick of 2.69 per cent, indicating a surge in overall market volatility.

Top Gainers in sectors included Nifty PSU Bank, Nifty Media, Nifty Realty, and Nifty Metal, while Nifty Energy, Nifty FMCG, Nifty Pharma, and Nifty Financial Services emerged as the Top Losers.

Among individual stocks, notable gainers were BPCL, Tata Motors, and Grasim, whereas leading losers in the Nifty 50 included Bajaj Finance, Titan, and Ultratech Cement.

The broader market sentiment hinted at a slight pessimistic tone, with 1,047 stocks advancing compared to 1,179 stocks declining, indicating a nuanced outlook in the overall market landscape.

The following Penny Stocks are likely to be in focus on Wednesday, January 31, 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 42.15 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.

Accuracy Shipping - 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 16.60 per share on NSE. Accuracy Shipping Ltd specializes in delivering third-party logistics solutions. The company provides tailored and comprehensive logistics services, encompassing transportation distribution, freight forwarding, clearing and forwarding services, custom house clearance, warehousing, and value-added services.

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 9.00 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.