In Wednesday’s trading session, the benchmark indices concluded positively, with both the Sensex and Nifty recording a gain of 0.14%. However, the broader indices presented a mixed picture, with Nifty Midcap rising by 0.34% and Nifty Smallcap declining by 1.21%.
Nifty IT, Nifty Auto, and Nifty Pharma stood out as the top gainers, while Nifty PSU Bank, Nifty Media, and Nifty Metal encountered losses.
Among individual stocks, BPCL, Cipla and NTPC led the gainers, whereas IndusInd Bank, Hindalco, and Kotak Bank were among the top losers in the Nifty 50. The broader market sentiment indicates a positive trend, with approximately 811 advancing stocks compared to 1227 declining ones.
The following penny stocks are likely to be in focus on Thursday, November 23, 2023:
Compucom Software
The company witnessed a robust price and volume breakout, resulting in the stock getting locked at a 5% upper circuit, reaching an intraday high of Rs 28.90 per share on the NSE. Compucom Software is in the business of software and education.
Bhandari Hosiery Exports
This counter experienced a significant increase in buying interest as the scrip surged and got locked at a 10% upper circuit, reaching an intraday high of Rs 6.80 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. Bhandari Hosiery Exports is in the business of textiles and garment manufacturing.
Read: Top 3 Profitable Companies in Indian Textile Space
Akshar Spintex
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 7.35 per share on the NSE. Akshar Spintex Ltd does manufacturing and trading of spun cotton yarn.
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.
