Penny stocks to watch out for tomorrow, July 28, 2023

The Sensex and Nifty concluded the trading session with a decline of 0.66% and 0.6%, respectively. However, amidst the overall decline, Nifty Midcap managed to close with a gain of 0.27%, while Nifty Smallcap remained relatively unchanged. 

Among the sectors, Nifty Realty, Nifty PSU Bank, and Nifty Pharma performed well, registering gains. On the other hand, Nifty Auto, Nifty Bank, and Nifty Financial Services faced losses. Specifically, Cipla, Sun Pharma, and Divi’s Laboratories were notable gainers among the Nifty 50 stocks, whereas Tech Mahindra, Tata Consumer Product, and M&M encountered losses. 

The following penny stocks are likely to be in focus on Friday, July 28, 2023:     

Moksh Ornaments: Moksh Ornaments witnessed a robust breakout in both price and volume, leading to the stock price surging more than 17% and hitting an intraday high of Rs 14.25 per share on the NSE. This surge in price was supported by a substantial increase in trading volume. Moksh Ornaments Ltd is in the business of exporting and trading in gold jewellery.  

Nectar Lifesciences: Nectar Lifesciences observed a substantial spike of over 18% in its stock price, reaching an intraday high of Rs 27.55 per share on the NSE. This remarkable price increase was accompanied by a noticeable rise in trading volume. Nectar Lifesciences Ltd is primarily engaged in the development, manufacture and marketing of various active pharmaceutical ingredients (APIs) and finished dosage forms.  

Fiberweb (India): The company experienced a substantial surge in its stock price, leading to a surge of more than 17%, indicating a strong breakout in both price and volume. The stock reached an impressive intraday high of Rs 32.35 per share on the NSE, and this notable price surge was supported by a significant rise in trading volume. Fiberweb (India) is primarily engaged in the business of manufacturing spun bond and melt-blown of nonwoven fabrics from polypropylene.  

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.