Nifty closed 0.59% lower at 18,600, while Sensex closed 0.55% lower at 62,700. Nifty Midcap showed a modest increase of 0.38%, while Nifty Smallcap had a significant surge of 1.17%.
Top performing sectors included Nifty Realty, Pharma, and Media, while Nifty Energy, Financial Services, and Metal were among the top losing sectors.
From the Nifty 50, HDFC Life, Bharti Airtel, and Tech Mahindra were top performing stocks, while ONGC, NTPC, and Axis Bank were top losing stocks.
Meanwhile, India’s GDP growth in the January-March period stood at 6.1%, surpassing the previous quarter’s 4.4%. This growth rate exceeds the RBI’s projection of 5.1% for the quarter. The overall growth rate for FY23 is 7.2 %, higher than the central bank’s estimate of 7%. In FY22, the country achieved a growth rate of 9.1%.
The following penny stocks are likely to be in focus on Thursday, June 01, 2023:
Kaushalya Infrastructure Development Corporation- The stock saw significant buying activity, resulting in a surge of more than 19%, to trade at an intraday high of Rs 4.80 per share on NSE. The scrip witnessed a massive spurt in volume. Kaushalya Infrastructure Development Corporation Ltd is engaged in executing construction contracts relating to infrastructure, real estate developments, acquisition, development and sale of land.
Suzlon Energy- Heavy buying interest was witnessed in the counter as the scrip surged 10.33%, recording an intraday high of Rs 11.85 per share on NSE. There was a significant surge in trading volume for the scrip. Suzlon Energy is primarily engaged in the business of manufacturing wind turbine generators and related components of various capacities.
Adroit Infotech- A strong breakout was witnessed in terms of price and volume as it rallied 9.89%, reaching an intraday high of Rs 20 per share on NSE. The scrip witnessed a massive spurt in volume. Adroit Infotech Ltd is primarily engaged in the business of SAP Support Services.