Top 10 Penny Stocks Gainers Today - July 06, 2022

The barometer index, the S&P BSE Sensex, increased by 616.62 points or 1.16% to 53,750.97 as of preliminary closing data. To reach 15,989.80, the Nifty 50 index gained 178.95 points or 1.13%. The S&P BSE Mid-Cap index increased by 1.76% and the S&P BSE Small-Cap index increased by 0.94% in the overall market.  

Shares increased across all industries, with bank, FMCG, real estate, and auto companies driving the rally. The Nifty Midcap 100 and the Nifty Smallcap 100 both increased by 1.9% and 0.5% respectively, mirroring the increases in the leading indices in broader markets. Heavyweight businesses including Hindustan Unilever, HDFC Bank, Bajaj Finance, and Kotak Mahindra Bank have been seen buying.  

Market breadth was strong as 1,846 shares increased and 1,453 shares decreased on the BSE and 137 shares in total remained unchanged. Overnight, there was some cooling off in the price of petroleum, which encouraged local investors. Futures for crude oil increased after falling overnight. Brent crude for September 2022 settlement was up $1.98 or 1.93% up at $104.75, according to the commodities market. India gains from low crude prices since they have a favourable effect on the country's growth, current account deficit (CAD), inflation, and fiscal deficit. 

Investors will pay close attention to the Federal Reserve's minutes from its meeting in June when they are released late on Wednesday. On Wednesday, European equities increased on a general basis while Asian shares declined.  

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