Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Thursday, October 05, 2023

On Tuesday, both the Sensex and Nifty concluded their trading sessions with declines, posting losses of 0.44 per cent and 0.47 per cent, respectively. Additionally, the Nifty Midcap saw a notable decrease of 1.38 per cent, while the Nifty Smallcap closed with a 1.25 per cent decline.

In terms of sectoral performance, Nifty IT and Nifty FMCG emerged as the top performers, showing gains, while Nifty PSU Bank, Nifty Realty, and Nifty Media were among the sectors that suffered losses.

Among the individual stocks within the Nifty 50 index, Adani Enterprises, Nestle India, and Hindustan Unilever stood out as leading gainers, while Axis Bank, SBIN, and NTPC were among the Top Losers.

Foreign investors are withdrawing their investments from the Indian stock markets due to the ongoing surge in the US dollar and bond yields, which is diminishing the attractiveness of emerging market assets. Despite India's robust macroeconomic growth, our economy is not immune to global challenges, and therefore, any correction in the global markets driven by concerns about potential interest rate hikes could also impact the Indian market.

The following Penny Stocks are likely to be in focus on Thursday, October 05, 2023:

Suzlon Energy - 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 28.25 per share on NSE. The scrip witnessed massive spurt in volume. Suzlon Energy Ltd manufactures wind turbine generators and related components.

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

Ruchi Infrastructure- 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 14.75 per share on NSE. Ruchi Infrastructure Ltd is engaged in the business of infrastructure, storage of liquid commodities, agri warehousing facilities, wind power generation, trading of various commodities and manufacturing of soap.

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.