During the most recent market session, both the Sensex and Nifty closed on a negative note, with the Sensex Index down 0.44% and the Nifty-50 Index down 0.51%. While the Nifty Mid-cap Index decreased by 0.11%, whereas the Nifty Small-cap Index, finished the session down 0.18%.
Nifty Pharma Index and Nifty PSU Bank emerged as the winners among the sectors, whereas the Nifty Consumer Durables Index and NSE Financial Services Index encountered losses in the sectoral landscape.
At the individual stock level Sun Pharmaceuticals, Tech Mahindra and Cipla emerged as prominent gainers, while HDFC Bank, NTPC and LTI Mindtree registered losses within the Nifty 50 index.
The following penny stocks are likely to be in focus on Friday, January 19, 2024:
Impex Ferro Tech Limited
The stock experienced a substantial surge in its stock price, with the stock zooming and getting locked at a 5% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high & fresh 52-week high of Rs 6.30 per share on the NSE. Incorporated in 1995, Impex Ferro Tech Ltd manufactures ferro alloys and trades in iron & steel products. The company manufactures ferro alloys, viz. silico manganese and ferro manganese through a submerged arc furnace route.
Aksh Optifibre Limited
The stock underwent a substantial surge in its stock price, zooming by 5% indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 12.85 on the NSE. Incorporated in 1986, Aksh Optifibre Ltd manufactures and sells optical fibre, optical fibre cable, fibre-reinforced plastic rods, impregnated glass roving reinforcement and ophthalmic lenses. It also provides e-governance and FTTH services.
Ganga Forging Limited
The counter experienced a notable increase in buying interest as the scrip zoomed and hit a 5% upper circuit, reaching an intraday high of Rs 10.75 per share on NSE. The stock’s 52-week high is Rs 10.75 and its 52-week low is Rs 3. Incorporated in 1988, Ganga Forging Ltd manufactures closed-die forged products for both automotive and non-automotive segments. The company’s forging unit caters to the needs of OEM customers and also part manufacturing units by offering them products.
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.