Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Wednesday, January 17, 2024

On Tuesday, the primary market indices concluded the day on a negative trajectory, with the Sensex closing moderately lower by 0.27 per cent at 73,128.78, and the Nifty ending at 22,032.30 after a decline of 0.29 per cent.

Similarly, broader indices also recorded moderate losses, with Nifty Mid-Cap falling by 0.36 per cent, and Nifty Small-Cap plummeting by 0.48 per cent.

Market volatility, as measured by India VIX, experienced a decline of 1.81 per cent, indicating a reduction in market volatility.

Nifty Metal, Nifty FMCG, Nifty Media, and Nifty PSU Bank emerged as the Top Gainers, while Nifty Realty, Nifty IT, Nifty Pharma, and Nifty Energy were among the Top Losers.

Top-performing stocks in the Nifty 50 included BPCL, Tata Steel, and Titan, whereas Divi's Laboratories, HCL Technologies, and Wipro were among the top losers.

With 627 stocks advancing compared to 1,603 stocks declining, there is a prevailing pessimistic sentiment in the broader market.

The following Penny Stocks are likely to be in focus on Wednesday, January 17, 2024:

Adroit Infotech - 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 28.80 per share on NSE. Established in 1990, Adroit Infotech Ltd is primarily focused on providing SAP Support Services. The company plays a pivotal role in assisting organizations in cost reduction and enhancing overall effectiveness and efficiency by implementing internal process improvements through SAP products and solutions.

ASL 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 48.30 per share on NSE. Established in 1992, ASL Industries Ltd is involved in the manufacturing and trading of automobile parts, components related to railways or tramways, and provides additional services, including jobwork.

Airan - 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 32.25 per share on NSE. Airan Ltd operates in the IT and ITeS sector, focusing on services such as Banking Transactions Processing, Document Management, Payment Banking, and related activities.

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.