During Wednesday’s trading session, the benchmark indices demonstrated a robust upward trend, with the Sensex experiencing a significant surge of 1.1% and the Nifty closing 1.04% higher. This positive momentum extended to broader indices, where the Nifty Midcap recorded a gain of 0.81% and the Nifty Smallcap closed higher by 1.035.
In terms of sectors, Nifty Auto, Nifty Bank, and Nifty IT emerged as the top gainers, while Nifty Realty and Nifty Media faced losses. Examining individual stock performances, Axis Bank, Hero Motocorp, and M&M stood out as the top gainers, whereas Adani Enterprises, ONGC, and Divi’s Laboratories found themselves among the top losers within the Nifty 50.
The broader market sentiment remains positive, with 1033 advancing stocks compared to 990 declining stocks, reflecting an optimistic outlook in the broader market.
The following penny stocks are likely to be in focus on Thursday, November 30, 2023:
LGB Forge
The company witnessed a robust price and volume breakout, resulting in the stock getting locked at a 10% upper circuit, reaching an intraday high of Rs 12.10 per share on the NSE. LGB Forge Limited was incorporated in 2008 and it is involved in manufacturing of forged (range of hot, cold and warm forgings) and machined components.
Atlanta
This counter experienced a significant increase in buying interest as the scrip surged and got locked at a 5% upper circuit, reaching an intraday high of Rs 7.50 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. Atlanta Ltd is engaged in the Construction business.
Burnpur Cement
The stock underwent a substantial surge in its stock price, zooming and getting locked at a 5% upper circuit level, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 7.05 per share on the NSE. Burnpur Cement is in the business of cement manufacturing.
Read: Unlocking Cement Stocks in India
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.
