Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Friday, November 24, 2023:

In Thursday's trading session, the benchmark indices closed the day with marginal losses, as the Sensex dipped by 0.01 per cent, and the Nifty experienced a slight decline of 0.05 per cent. However, the broader market indices painted a more optimistic picture, with the Nifty Midcap maintaining stability and the Nifty Smallcap recording a noteworthy gain of 0.7 per cent.

Market volatility, as gauged by India VIX, exhibited a notable drop of 5.29 per cent, signaling a decrease in market uncertainty and a shift towards a more stable environment.

Sector-wise, Nifty Realty, Nifty Media, and Nifty Metal emerged as the frontrunners, contributing to the overall positive momentum. Conversely, Nifty Pharma, Nifty IT, and Nifty PSU Bank faced losses during the session.

Key contributors to the positive market sentiment included Hero Motocorp, Bajaj Auto, and BPCL, securing positions among the Top Gainers within the Nifty 50. On the flip side, Cipla, Ultra Tech Cement, and LTI Mindtree found themselves among the Top Losers.

The broader market sentiment continues to reflect optimism, with 1092 advancing stocks outnumbering 927 declining ones. This suggests an overall positive sentiment in the broader market, contributing to a nuanced trading landscape.

The following Penny Stocks are likely to be in focus on Friday, November 24, 2023:

Peninsula Land - 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 46 per share on NSE. The scrip witnessed massive spurt in volume. Peninsula Land, an integral player in the real estate sector, operates as part of the Ashok Piramal Group. The company specializes in the development of retail ventures, commercial projects, and residential complexes.

Goldstar 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 17.30 per share on NSE. Established in 1999, Goldstar Power Ltd. is a manufacturer specializing in batteries and battery products.

Regency Ceramics - A solid price volume breakout was seen at the counter today as the stock rallied and there was spurt in volume by more than 1.62 times. The stock recorded an intraday high of Rs 40.95 per share on NSE. Founded in 1983, Regency Ceramics Ltd. specializes in the production of ceramic floor and wall tiles, catering to both domestic and international markets.

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.