Indian benchmark indices concluded the session on a brighter note, surging by more than 1% driven by investor confidence in sectors including utilities, power, real estate, and capital goods. The BSE Midcap index and BSE Smallcap index also witnessed strong rise, ending the session with gains of 1.70% and 1.89%, respectively.
With 2,828 shares rising on the BSE and 838 shares declining, the advance-decline ratio heavily remained in favor of advances. Investor optimism was evident as over 300 stocks were locked in the upper circuit. On the Sensex, Axis Bank, HCL Technologies, and State Bank of India were among the top gainers, whereas Asian Paints, UltraTech Cement Company, and ITC Ltd were among the market draggers.
The following penny stocks are likely to be in focus on Monday, October 30, 2023:
CLIO Infotech Ltd
Shares of the company have stood out as the top performers among penny stocks, with an impressive 19% surge, propelling them to an intraday high of Rs 6.19 per share on the BSE. The company’s distinctive blend of software solutions and extensive IT services places it in a unique position to cater to the evolving needs of diverse industry sectors, including insurance, capital markets, asset management, and wealth management
Swasti Vinayaka Art & Heritage Corporation
The company’s shares witnessed a surge in buying interest, hitting a 10% upper circuit and closing at Rs 3.96 on the BSE. Over the past month, shares have generated returns exceeding 40%. The company operates in various sectors, including gems and jewellery, real estate, and stocks, among others.
KMF Builders & Developers Ltd
Following a significant decline in recent sessions, the company’s shares have now hit a 10% upper circuit. The company is actively involved in the construction and real estate sector and has achieved success with various residential projects in cities such as Delhi, Mumbai, Kolkata, Himachal Pradesh, and Bangalore.
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.