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HomeStocksPenny Stocks To Watch Out For Tomorrow, October 06, 2023

Penny Stocks To Watch Out For Tomorrow, October 06, 2023

The Sensex and Nifty wrapped up on a positive note, with gains of 0.62% and 0.56%, respectively. While Nifty Midcap maintained its stability, there was a notable upswing of 0.63% in Nifty Smallcap.

Market Movers

Prominent sectors that saw gains included Nifty IT, Nifty Auto, and Nifty Media, whereas Nifty PSU Bank, Nifty Pharma, and Nifty Metal experienced significant losses.

Looking at individual stocks, notable gainers within the Nifty 50 included L&T, Bajaj Auto and Titan, while Power Grid, Hindalco, and NTPC stood out as top losers.

The broader market sentiment remained positive, with 1272 stocks advancing as opposed to 731 stocks declining, signalling an optimistic outlook prevailing among investors.

The market sentiment received a boost thanks to encouraging PMI data and a correction in crude oil prices. Additionally, there was a decrease in selling activity by foreign institutional investors (FIIs), and we observed a rebound in sectors such as banking and information technology (IT) shares.

The following penny stocks are likely to be in focus on Friday, October 06, 2023:

Tree House Education & Accessories

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 20.80 per share on the NSE. Tree House Education & Accessories Ltd provides education and related services including leasing of education infrastructure.

AKI India

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 12.2 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. AKI Ltd manufactures and exports leather and leather goods.

3P Land Holdings

The stock underwent a substantial surge in its stock price, zooming and getting locked at a 10% upper circuit, indicating a strong breakout in both price and volume. The stock achieved an impressive intraday high of Rs 30.45 per share on the NSE. 3P Land Holdings Ltd is engaged in the business of lending, investment activity and real estate leasing.

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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