Penny Stocks: Stocks likely to be in focus tomorrow!

Vaishnavi Chauhan
Penny Stocks: Stocks likely to be in focus tomorrow!

The following penny stocks are likely to be in focus on Friday, August 02, 2024:

On Thursday, the market showed positive sentiment, with the Sensex trading up by 0.15 per cent touching 81,867.55 mark, while Nifty increased by 0.24 per cent breaking the level of 25,010,90 points.

Furthermore, the broader market showed muted performance, with the Nifty Mid-Cap closing down by 0.85 per cent and the Nifty Small-Cap declined by 0.98 per cent.

Market volatility, as indicated by India VIX, has plunged by 2.42 per cent, closing below 13 this is reflecting an increase in market volatility.

Within the sectoral landscape Nifty Energy and Nifty FMCG was among the Top Gainers while Nifty Realty and Nifty Media was the major sector which is underperformed.

About 1,586 stocks were advancing as against to 2,375 that were declining, thus indicating a positive sentiment in the broader market.

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The following Penny Stocks are likely to be in focus on Friday, August 02, 2024:

Reliance Power - Heavy buying was witnessed in the counter as the scrip zoomed and got locked at 5 per cent upper circuit, recording an intraday high of Rs 33.05 per share on NSE. Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally. The Company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development. 

Rama steel - The scrip experienced significant buying activity, resulting in the stock surging and getting locked at 20 per cent upper circuit, reaching an intraday high of Rs 12.36 per share on NSE. Incorporated in 1974, Rama steel tubes is one of the leading manufacturers of Steel Pipes & Tubes, Rigid PVC & G.I. Pipes and square section products in India. 

Celebrity Fashions - A solid price volume breakout was seen at the counter today as the stock rallied and got locked at 20 per cent upper circuit to record an intraday high of Rs 20.50 per share on NSE. Established in 1988, Celebrity Fashions Ltd manufactures and exports all types of textile garments and clothing accessories to many multinational brands.

 

Disclaimer: The article is for informational purposes only and not investment advice.

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