Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Wednesday, May 08, 2024.

Tuesday saw Benchmark indices closing on a negative note, with Sensex declining by 0.52 per cent to reach 73,511.85, and Nifty falling by 0.62 per cent to close at 22,302.50.

The broader market followed suit, with Nifty Mid-Cap dropping by 1.95 per cent and Nifty Small-Cap plummeting by 1.89 per cent.

Furthermore, the market volatility surged by 2.45 per cent, indicating increased market uncertainty.

While Nifty FMCG and Nifty IT closed positively, Nifty Realty, Nifty Metal, Nifty PSU Bank, and Nifty Energy witnessed losses.

In the broader market, 1,034 stocks advanced compared to 2,794 stocks declining, pointing towards a negative sentiment overall.

The following Penny Stocks are likely to be in focus on Wednesday, May 08, 2024:

Hindustan Motors - 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 44.10 per share on NSE. Established in 1948, Hindustan Motors Ltd specializes in the manufacturing and distribution of vehicles, spare parts, steel products, and components. Additionally, the company engages in trading spare parts of vehicles.

RattanIndia Power - 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 10.40 per share on NSE. RattanIndia Power Limited stands as one of India’s prominent private power generation companies, boasting an installed capacity of 2,700 MW spread across thermal power plants in Amravati and Nashik, with 1,350 MW capacity at each location in Maharashtra, India.

Transwarranty Finance - A solid price volume breakout was seen at the counter today as the stock rallied and got locked at 20per cent upper circuit to record an intraday high of Rs 15.30 per share on NSE. Established in 1994, Transwarranty Finance Ltd operates as a Non-Banking Financial Company (NBFC), specializing in providing lending and advisory services.

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

Disclaimer: The article is for informational purposes only and not investment advice.