Indian benchmark indices continued their decline, marking a substantial downturn in today’s trading session. The BSE Sensex and Nifty 50 both witnessed a significant drop, with losses of 1.41% and 1.39%, respectively. Among the sectors, BSE Power and BSE Utilities were the sole gainers, providing some respite, while the auto, metals, and oil & gas sectors were the hardest hit.
With 1,422 shares rising on the BSE and 2,235 shares declining, the advance-decline ratio heavily remained in favour of declines. On the Sensex, Axis Bank, ITC Ltd and HCL Technologies were among the top gainers, whereas Mahindra & Mahindra, Bajaj Finance and Asian Paints were among the market draggers.
The following penny stocks are likely to be in focus on Friday, October 27, 2023:
Max Alert Systems Ltd
Amidst a bearish market, shares of the company managed to captivate investors due to their robust upward momentum, with shares being locked at the 5% upper circuit at a price of Rs 2.10 per share on the BSE. The company specializes in designing and implementing fire-fighting systems for both industrial and domestic settings. Additionally, it serves as a turnkey service provider within the telecom infrastructure sector.
Patidar Buildcon Ltd
The shares of the company have consistently reached consecutive upper circuits, delivering more than 20% returns over the past five trading sessions. The company, a distinguished real estate developer renowned for its innovative construction concepts, continues to garner investor interest.The company offers a range of services, including residential real estate services, commercial real estate services, as well as interior work.
Rama Petrochemicals Ltd
In response to the company’s board meeting announcement regarding its latest financial results, shares of the company experienced a substantial increase in buying interest, ultimately reaching the 5% upper circuit at a trading price of Rs 4.41 per share on the BSE. The company is actively involved in trading operations.
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.