Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Wednesday, December 20, 2023

On Tuesday’s trading session, benchmark indices concluded the day on a positive note, with the Sensex closing moderately higher by 0.17 per cent after reaching a new all-time high of 71,623.71. Similarly, the Nifty surged by 0.13 per cent, setting a new all-time high of 21,505.05.

However, broader indices closed on a lower note, with Nifty Mid-Cap plunging by 0.35 per cent, and Nifty Small-Cap declining marginally by 0.03 per cent.

Market volatility, as indicated by India VIX, has marginally declined by 0.27 per cent, reflecting a slight decrease in market volatility.

Nifty Energy, Nifty FMCG, and Nifty PSU Bank were among the Top Gainers, while Nifty IT, Nifty Auto, and Nifty Media were among the Top Losers.

Coal India, Nestle India, and NTPC were among the top gainers, while Adani Ports, Hero Motocorp, and SBI Life were among the top losing stocks from the Nifty 50.

About 963 stocks were advancing, compared to 1084 stocks that were declining, indicating a pessimistic sentiment in the broader market.

The following Penny Stocks are likely to be in focus on Wednesday, December 20, 2023:

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 22.05 per share on NSE. Established in 1990, Adroit Infotech Ltd specializes in SAP Support Services, aiding organizations in cost reduction and enhancing effectiveness and efficiency through internal process improvements using SAP products and solutions. The company focuses on delivering comprehensive support to optimize business processes and enhance overall operational performance.

Rajdarshan 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 42.00 per share on NSE. Established in 1980, Rajdarshan Industries Ltd is actively involved in the mining of raw materials, specifically in the extraction and transportation of limestone. The company plays a crucial role in the supply chain, contributing to the raw material requirements for various industries.

Celebrity Fashions - 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 18.15 per share on NSE. Incorporated in 1988, Celebrity Fashions Ltd specializes in the manufacturing and export of diverse textile garments and clothing accessories. The company has built a strong reputation as a reliable supplier, catering to numerous multinational brands in the fashion industry.

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.