Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Wednesday, February 27, 2024

On Monday, the benchmark indices wrapped up the trading day on a negative trajectory, with the Sensex closing marginally lower by 0.48 per cent at 72,790.14 level. Similarly, the Nifty witnessed a decline of 0.41 per cent, concluding at 22,122.05 level.

The broader market also experienced slight downturns, with the Nifty Mid-Cap closing lower by 0.05 per cent and the Nifty Small-Cap witnessing a marginal decline of 0.01 per cent.

Market volatility, as gauged by India VIX, exhibited a decrease of 4.21 per cent, albeit signaling an uptick in market volatility.

Among sectors, Nifty Energy, Nifty Auto, and Nifty Realty emerged as the Top Gainers, while Nifty IT, Nifty Metal, and Nifty Bank were among the Top Losers.

In terms of individual stocks, L&T, Power Grid, and Adain Enterprises led the gains, whereas Asian Paints, Apollo Hospitals, and Hindalco were among the top losing stocks in the Nifty 50 index.

Overall market sentiment leaned towards the negative, with 837 stocks advancing compared to 1427 stocks declining, highlighting prevailing bearish sentiments in the broader market.

The following Penny Stocks are likely to be in focus on Wednesday, February 27, 2024:

Ankit Metal & Power - 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 4.60 per share on NSE. Founded in 2002, Ankit Metal & Power Limited focuses on the manufacturing of iron ore pellets, sponge iron, MS billets, and re-rolled products, accompanied by a Captive Power Plant (CPP).

Abhishek Integrations - 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 42.50 per share on NSE. Established in 2017, Abhishek Integrations Limited specializes in the development, maintenance, and operation of airports and related businesses.

Dhanuka Realty - 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 26.25 per share on NSE. Established in 2002, Dhanuka Realty Ltd operates in the realm of real estate development and construction.

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