Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Monday, October 09, 2023

On Friday, both the Sensex and Nifty wrapped up the trading session on a positive note, posting gains of 0.55 per cent. Furthermore, the Nifty Midcap segment displayed strength, concluding with a 0.58 per cent gain, while the Nifty Smallcap segment performed exceptionally well, closing with a substantial 0.89 per cent gain.

In terms of sectors, Nifty Realty, Nifty Financial Services, and Nifty Pharma emerged as the top performers, whereas Nifty Media remained relatively unchanged throughout the day. Among individual stocks within the Nifty 50 index, Bajaj Finserv, Bajaj Finance, and Titan stood out as the leading gainers, while Hindustan Unilever, Coal India, and ONGC faced declines.

As anticipated, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) maintained the unaltered lending repo rate at 6.5 percent for the fourth consecutive time, with its primary focus on curbing inflation.

During the week, the BSE Sensex and Nifty50 closed with marginal changes, ending on a relatively flat note.

The following Penny Stocks are likely to be in focus on Monday, October 09, 2023:

FCS Software Solutions- Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 20 per cent upper circuit, recording an intraday high of Rs 3.15 per share on NSE. The scrip witnessed massive spurt in volume. FCS Software Solutions is an IT company which provides services in IT consulting, IT Infra management, IT-enabled services, and Learning solutions.

Kanani Industries- 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 9.50 per share on NSE. Kanani Industries Ltd is engaged in the business of manufacture & export of diamond studded jewellery.

DCM Financial Services- 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 5.15 per share on NSE. DCM Financial Services Ltd (part of DCM group) deals in financing operations viz., inter corporate deposits and investment.

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

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