Both the Sensex and Nifty, the stalwarts of the Indian stock exchange, painted a canvas of substantial declines, each bearing the weight of losses – 0.92% and 0.98% respectively. Additionally, the Nifty Midcap index stumbled, bowing to a decline of 1.32%, while the Nifty Smallcap index, bore a minor dip of 0.41%.
While the sun set on another day of market volatility, the global financial arena awaits with bated breath. In the coming days, all eyes will be trained on the US GDP data and the utterances of the Federal Reserve Chair – these two influencers holding the brush that could shape the next strokes of market trends. Currently, a complex dance unfolds as interest rates ascend and US bond yields ebb and flow, prompting Foreign Institutional Investors (FIIs) to remain firmly in the selling stance.
The following penny stocks are likely to be in focus on Friday, September 29, 2023:
A2Z Infra Engineering:
The company witnessed a robust price and volume breakout, resulting in the stock getting locked at a 5% upper circuit, reaching an intraday high of Rs 9.06 per share on the NSE. A2Z Group is an infrastructure engineering and services conglomerate providing services in various sectors, including Engineering, Procurement and Construction (EPC) for telecom and power, municipal solid waste management, facility management services, renewable energy generation, waste-to-energy generation, and home services.
Ansal Properties & Infrastructure:
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 14.35 per share on the NSE. This surge in price was accompanied by a noteworthy rise in trading volume for the scrip. Ansal Properties and Infrastructure Ltd. is primarily involved in real estate development across residential, commercial, and retail segments.
Digicontent: 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 20.85 per share on the NSE. Digicontent Ltd is engaged in the entertainment and digital innovation business.
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.