Both the Sensex and Nifty wrapped up the trading day with modest gains of 0.39% and 0.40%, respectively. Furthermore, the Nifty Midcap index showed a 0.35% uptick, while the Nifty Smallcap index surged significantly, closing 0.88% higher.
Several sectors displayed robust performance, with Nifty Energy, Nifty Financial Services, and Nifty PSU Bank leading the pack among the top-performing sectors. Notably, there were no major sectors underperforming.
Looking at the Nifty 50 index, Power Grid, SBI Life, and BPCL emerged as prominent gainers, while Tata Motors, L&T, and UPL stood out as leading decliners.
Overall market sentiment remained positive, with approximately 1,254 stocks advancing compared to 759 stocks in the declining category, indicating an optimistic atmosphere in the broader market.
The following penny stocks are likely to be in focus on Wednesday, October 18, 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 32.05 per share on the NSE. Accord Synergy Ltd is engaged in telecom implementation activities and civil works.
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 36.50 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. ABM International Ltd is primarily engaged in the port of plastic raw materials.
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 33.20 per share on the NSE. Abhishek Integrations Limited is in the business of developing, maintaining & operating Airports and allied businesses.
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.