Domestic indices witnessed a significant decline today, with broader indices experiencing a sharp downturn. The BSE Midcap and BSE Smallcap indices plummeted by 2.51% and 4.18%, respectively. In addition, the commodities, metals, utilities, and telecommunications sectors all recorded losses exceeding 3% each. BSE Fast Moving Consumer Goods, BSE Auto, and BSE Bankex were among the sectors least affected, still registering losses of 1% each.
With 638 shares rising on the BSE and 3,196 shares declining, the advance-decline ratio heavily remained in favor of declines. On the Sensex, Bajaj Finance and Mahindra and Mahindra were the only gainers, whereas JSW Steel, Tata Steel, and Tata Consultancy Services were among the market draggers.
The following penny stocks are likely to be in focus on Wednesday, October 25, 2023:
Danube Industries Ltd:
In contrast to a sluggish market, the shares witnessed a remarkable tenfold surge in trading volume and were locked at the 20% upper circuit, trading at Rs 9.45 per share. The company offers a wide range of products, including POS systems, networking equipment like wires and cables, P&L devices, circuits, and various hardware components.
Integrated Capital Services Ltd
The shares sustained their trend of hitting the 20% upper circuit and locked at Rs 5.98 per share on the BSE. Shares have left investors impressed by delivering returns of more than 60% in the last five trading sessions. The company specializes in providing business advisory and consulting services, as well as offering advice on debt and business restructuring.
Milestone Furniture Ltd
Shares have received strong buying interest and ended the session more than 15% higher. Shares are currently trading at Rs 7 with a 52-week high of Rs 10.10 per share. The company is engaged in the manufacturing of both home and office furniture, as well as providing home and office interior design 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.