Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Thursday, June 05, 2024.

On Wednesday, benchmark indices concluded the trading day on a positive note. The Sensex surged by 3.2 per cent, closing at 74,382.24, while the Nifty rose by 3.36 per cent, ending at 22,620.35. The broader market also experienced significant gains, with the Nifty Mid-Cap up by 4.3 per cent and the Nifty Small-Cap climbing by 3.81 per cent.

Additionally, market volatility, as indicated by the India VIX has decreased by 29.40 per cent, which reflects reduced market volatility.

All major sectors traded positively, with Nifty Metal, Nifty Auto, Nifty Bank, and Nifty FMCG among the Top Gainers.

Overall market sentiment was positive, with 2,560 stocks advancing compared to 1,261 stocks declining.

The following Penny Stocks are likely to be in focus on Thursday, June 05, 2024:

Ashima - Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 10 per cent upper circuit, recording an intraday high of Rs 29.85 per share on NSE. Ashima Limited is engaged in the manufacture of 100 per cent cotton Yarn Dyed Shirting fabrics, Denim fabrics and readymade garments as well as processing of textile fabrics.

Davangere Sugar - The scrip experienced significant buying activity, resulting in the stock surging and getting locked at 10 per cent upper circuit, reaching an intraday high of Rs 9.90 per share on NSE. Incorporated in 1970, Davangere Sugar is in the business of Sugar Manufacturing (By-product Molasses) from Sugarcane and Co-generation of Electricity Power.

GVP Infotech - 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 15.15 per share on NSE. Incorporated in 2011, GVP Infotech Ltd is in the business of IT 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.