Penny Stocks Gainers Today - February 27, 2023

The market fell for the seventh day in a row, with the Nifty closing below 17,400; IT and metal shares drag the most.

Market analysis

On Monday, the major market indices fell for the seventh day in a row, following weak Asian stocks. After touching a low of 17,299 in the afternoon trade, the Nifty closed close to that level. Auto, metal, IT, and healthcare equities all saw selling. The S&P BSE Sensex, a gauge index, dropped 175.58 points, or 0.30%, to 59,288.35. To reach 17,392.70, the Nifty 50 index dropped 73.10 points or 0.42%. The Sensex has lost 3.31% in seven trading sessions, while the Nifty has corrected 3.57%. Major laggards included Reliance Industries (down 0.70%), Infosys (down 2.71%), Tata Steel (down 3.37%), and TCS (down 2.01%).

The S&P BSE Mid-Cap index decreased by 0.69%, while the S&P BSE Small-Cap index decreased by 1.28% in the overall market. Market breadth was not strong. 956 shares increased and 2593 shares decreased on the BSE, while 186 shares in total remained unchanged.

Stronger-than-anticipated U.S. inflation, the potential for additional rate increases, and uncertainty regarding the Chinese economy's recovery dampened investor confidence. In the previous trading session, the yield on India's benchmark 10-year government paper increased to 7.451 from 7.419%.

Following Table Shows Penny Stocks That Gained Most on Monday

The value of the rupee relative to the dollar decreased in the foreign currency market. The rupee was trading around 82.8300, down from its session-ending level of 82.7550. Gold futures on the MCX for settlement on April 5 declined 0.18% to Rs 55,330. The US Dollar index (DXY), which measures the value of the dollar in relation to a variety of other currencies, fell 0.03% to 105.18. The yield on US 10-year bonds increased by 0.35% to 3.963. Brent crude for April 2023 settlement increased 9 cents or 0.11% to USD 82.91 a barrel on the commodities market.