These penny stocks experience FOMO; watch out!

After the outbreak of the COVID pandemic, the Indian benchmark indices witnessed one of their fastest falls in history. However, post this fall, markets staged a V-shaped recovery and thereafter, went onto touch new milestones every now and then. Many were puzzled or taken aback by this scintillating rally of the markets as at the ground level, everything looked bleak, and cynics said that markets are running ahead of ground realities. And much of the rise in the Indian markets has been attributed to FOMO.   

What is FOMO? FOMO is the acronym for ‘fear of missing out’. It is used to describe a situation, where someone has a fear or anxiety of missing out. Remember that FLASH SALE message which appeared in your inbox? Flat 50 per cent off! And without giving it a second thought, you straightaway clicked on the link and press the ‘buy’ button. This is called FOMO!  

So, we have curated a list of penny Stocks that witnessed FOMO on Wednesday.   

Kridhan Infra: The stock had witnessed volume greater than its last seven trading sessions and also, closed at the highest point of the day as it got locked at the upper circuit.   

MBL Infrastructures: Infrastructures were in the reckoning today as many stocks managed to outperform the benchmark indices and FOMO was seen in the stock of MBL Infrastructures. The stock gained nearly 8 per cent and the volume recorded was the highest since July 5.   

MSP Steel & Power: The stock opened at Rs 9.25 and interestingly, the opening of the day was also the lowest point of the day. Furthermore, the stock closed at an upper circuit and also, recorded the highest single-day volume in the last seven trading sessions.    

SE Power: The stock closed at the day’s high, and volume recorded for the day was greater in the last five trading sessions.   

Ujaas Energy: The stock had closed at the upper circuit and the volume recorded for the day was highest since June 16.