Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Friday, October 20, 2023

Both the Sensex and Nifty displayed modest reductions, marking a decline of 0.38 per cent and 0.24 per cent, respectively. The Nifty Midcap index concluded the session with a slight 0.09 per cent dip, whereas the Nifty Smallcap index witnessed a marginal uptick of 0.15 per cent.

Prominent sector performances included Nifty Auto, Nifty Media, and Nifty FMCG emerging as the leading gainers, while Nifty Metal, Nifty Energy, and Nifty Financial Services lagged behind.

Within individual stocks, Bajaj Auto, Nestle India, and Hero Motocorp showed gains, while SBIN, Axis Bank, and Tech Mahindra grappled with losses within the Nifty 50 index.

In the broader market context, around 955 stocks advanced, while 1074 stocks registered declines, reflecting a somewhat negative sentiment among investors.

The following Penny Stocks are likely to be in focus on Friday, October 20, 2023:

Akshar Spintex- 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 7.15 per share on NSE. The scrip witnessed massive spurt in volume.

Axita Cotton- 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 29.30 per share on NSE. Axita Cotton is in the business of manufacturing, trading, processing and finishing of cotton bales.

Blue Coast Hotels- 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 7.70 per share on NSE. Blue Coast Hotels is in the business of hospitality.

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.