Top 5 Penny Stocks Gainers Today - May 06, 2022

Penny Stock Update

Penny Stocks to Buy
by 5paisa Research Team Last Updated: 2022-08-08T18:52:31+05:30

The Indian stock market hit a two month low on Friday with the Sensex closing down by 867 points, while the Nifty slipped below 16,400.

On Friday, domestic equities barometers fell sharply, mirroring bearish global indications. After touching a low of 16,340.90 in mid-morning trade, the Nifty managed to settle just above 16,400. Investors were afraid that the US Federal Reserve's 0.50% rate boost would not be enough to bring long-term inflation under control.

Top 5 Gainers Penny Stocks Today: May 06


Following Table Shows Penny Stocks That Gained Most on Friday

Sr No.  

Stock Name  

LTP  

change  

%change  

1  

Melstar Information Technologies Ltd  

4.3  

0.2  

4.88  

2  

Kohinoor Foods Ltd  

18.8  

0.85  

4.74  

3  

Tijaria Polypipes Ltd  

6.7  

0.3  

4.69  

4  

Transwarranty Finance Limited  

9.15  

0.4  

4.57  

5  

Uttam Galva Steels Ltd  

4.6  

0.2  

4.55  

Real estate, consumer durables, and information technology stocks all fell the most. The S&P BSE Sensex, the barometer index, fell 866.65 points, or 1.56%, to 54,835.58. To 16,411.25, the Nifty 50 index was down 271.40 points, or 1.63%. Today, Reliance Industries (down 0.74%) and Tata Power (down 0.95%) will report their quarterly results.

The overall market dropped. The S&P BSE Mid-Cap index dropped 2.06%, while the S&P BSE Small-Cap index dropped 2.10%. Buyers outnumber sellers as 835 equities increased on the BSE, while 2519 sank and 106 shares remained unchanged. VIX, the NSE's fear index increased by 4.71 % to 21.25.

The yield on India's benchmark 10-year government paper increased to 7.451% from 7.403% at the previous trading session's finish. Rupee fell against the dollar in the foreign currency market. The partially convertible rupee was hanging around 76.9250, down from 76.35 at the previous trading session's closing. The price of gold futures on the MCX gained 0.69% to Rs.51,249. The DXY, which measures the value of the US dollar against a basket of currencies, fell 0.40% to 103.33.

Brent crude for July 2022 settlement climbed USD 2.58, or 2.33%, to USD 113.48 a barrel on the commodities market.
 

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