In Wednesday’s trading session, the market witnessed a positive close with Sensex and Nifty gaining 1.14% and 1.19%, respectively. Market volatility, measured by India VIX, experienced a slight decline of 0.18%, signalling a minor reduction in overall market volatility.
The broader market sentiment reveals a nuanced inclination towards optimism, as indicated by 1,293 advancing stocks juxtaposed against 736 declining stocks. This configuration signifies an overarching positive sentiment pervading the broader market.
On the Sensex, Somany Home Innovations Limited, Gabriel India Limited and Star Cements Limited were among the top gainers, whereas Rajesh Exports Limited, La Opala RG Limited and NATCO Pharma Limited were among the market draggers.
The following penny stocks are likely to be in focus on Thursday, November 16, 2023:
PMC Fincorp Ltd
Incorporated in 1985, was established to operate in the realm of financial services. The company is actively engaged in various activities, including Corporate and Personal Finance, Debt Syndication, Private Placement, Arranger Distribution & Marketing of Financial Products, and Dealing & Investment in the Stock Market. Notably, the company went public in 1988. The shares concluded the session with an impressive 20% gain, reaching Rs 2.40 per share on the BSE.
Modern Steel Ltd
Founded in 1974, Modern Steel Ltd specializes in the production of low-alloy and carbon-steel-rolled products catering to a diverse range of applications, including commercial vehicles like trucks and tractors, passenger vehicles, two-wheelers, and engineering companies. Today, its shares saw an impressive 19% gain.
Bang Overseas Ltd
Established in 1992, Bang Overseas Ltd (BOL) operates as a manufacturer and exporter of men’s wear, with a global presence spanning India and Macedonia. The company offers a comprehensive suite of services, encompassing concept development, designing, manufacturing, logistics, and marketing. Strong buying interest propelled the shares to hit the 20% upper circuit, reaching Rs 56.56 per share on the BSE.
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.