The Sensex and Nifty saw a fall of 0.17% and 0.098%, respectively. Conversely, the Nifty Midcap recorded a positive performance, closing with a gain of 0.21%, while the Nifty Smallcap segment displayed an even stronger performance, closing with a 0.37% increase.
Leading sectors included Nifty Metal, Nifty PSU Bank, and Nifty Auto, whereas Nifty Realty, Nifty Media, and Nifty Pharma faced losses.
Within the Nifty 50 index, Hero MotoCorp, JSW Steel, and Tata Steel stood out as top gainers, while Nestle India, Divi’s Laboratories, and TCS experienced declines.
Overall market sentiment remained positive, with approximately 1079 stocks advancing in contrast to 957 stocks in the declining category, signalling a favourable outlook in the broader market.
The following penny stocks are likely to be in focus on Tuesday, October 17, 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 29.15 per share on the NSE. Accord Synergy Ltd is engaged in telecom implementation activities and civil works.
Aakash Exploration Services
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 6.65 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. Aakash Exploration Services Limited provides services to oil and gas field.
The stock underwent a substantial surge in its stock price, 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 of Rs 6.80 per share on the NSE. Akshar Spintex manufactures carded, combed and compact cotton yarn of finer quality ranging between 16s to 44s counts.
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.