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HomeStocksPenny Stocks To Watch Out For Tomorrow- November 24, 2023

Penny Stocks To Watch Out For Tomorrow- November 24, 2023

During Thursday’s trading session, the benchmark indices wrapped up the day with marginal declines, as the Sensex slipped by 0.0082% and the Nifty edged down by 0.05%. In contrast, the broader indices closed on a positive note, with the Nifty Midcap maintaining a steady trajectory and the Nifty Smallcap notching a noteworthy gain of 0.7%.

Among sectoral performances, Nifty Realty, Nifty Media, and Nifty Metal emerged as the top gainers, contributing to the prevailing positive momentum. Conversely, Nifty Pharma, Nifty IT, and Nifty PSU Bank faced losses.

Driving the positive sentiment in individual stocks were Hero Motocorp, Bajaj Auto, and BPCL, securing positions among the top gainers within the Nifty 50. On the downside, Cipla, Ultra Tech Cement, and LTI Mindtree found themselves among the top losers.

The broader market sentiment remains optimistic, with 1092 advancing stocks outnumbering 927 declining ones, underscoring an overall positive outlook in the broader market.

The following penny stocks are likely to be in focus on Friday, November 24, 2023:

Celebrity Fashions

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 18.70 per share on the NSE. Celebrity Fashions Ltd manufactures and exports all types of textile garments and clothing accessories to many multinational brands.

Read In Detail: India’s Top 5 Textile Giants by Revenue!

CMM Infraprojects

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 4.80 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. CMM Infraprojects engages as a contractor and developer of buildings, complexes, roadways, railways and highways.

Essar Shipping

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 16.80 per share on the NSE. Essar Shipping is mainly engaged in fleet operating and chartering activities and operates international and coastal voyages.

Read: A Deep Dive into India’s Shipping Industry

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.
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