In the trading session on Tuesday, the key market indices concluded the day with positive momentum. The Sensex and Nifty 50 recorded gains of 0.31% and 0.48%, respectively. The broader market indices also displayed positive performances, with Nifty Midcap rising by 0.55% and Nifty Smallcap closing higher by 0.31%.
Leading the way in major sectors were Nifty Energy, Nifty Metal, and Nifty PSU Bank, contributing to the positive market sentiment. Conversely, Nifty Pharma and Nifty FMCG experienced losses.
Among individual stocks, notable gainers included Adani Enterprises, Adani Ports, and Tata Motors, while Eicher Motors, Apollo Hospitals, and ITC featured among the top losers within the Nifty 50 index.
Examining the broader market scenario, a positive sentiment prevailed, as approximately 1022 stocks advanced in contrast to 1022 declining ones. This suggests a balanced or neutral market sentiment.
The following penny stocks are likely to be in focus on Wednesday, November 29, 2023:
The company witnessed a robust price and volume breakout, resulting in the stock getting locked at a 10% upper circuit, reaching an intraday high of Rs 11 per share on the NSE. LGB Forge Limited was incorporated in 2008 and it is involved in the manufacturing of forged (range of hot, cold, and warm forgings) and machined components.
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 7.50 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. Integra Essentia Ltd is in the business of life essentials viz., food (agro products), clothing (textiles and garments), infrastructure (materials and services for construction and infrastructure development) and energy (materials, products and services for renewable energy equipment and projects).
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 39.35 per share on the NSE. ASL Industries Ltd manufactures and trades automobile parts, parts of railway or tramways, and other related services.
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.