Top 10 Penny Stocks Gainers Today - April 05 2023

Indian equity benchmarks Nifty 50 and Sensex held on to the green in early deals on Wednesday.

During mid-morning trade, the benchmark indices showed moderate gains, with the Nifty hovering around the 17,500 level, and realty stocks rallying for the fourth consecutive trading session. At 11:30 am, the S&P BSE Sensex index, rose by 369.2 points or 0.62% to 59,475.64, while the Nifty 50 index increased by 92.85 points or 0.53% to 17,490.90. In the broader market, the S&P BSE Mid-Cap index dropped by 0.07%, while the S&P BSE Small-Cap index gained 0.75%. Buyers outnumbered sellers, with 2,356 shares rising and 950 shares falling on the BSE, while 141 shares remained unchanged. The Reserve Bank of India (RBI) began its monetary policy meeting on 3 April 2023 and is expected to announce its decision on 6 April 2023. 

The RBI's monetary policy committee (MPC) is anticipated to raise the repo rate by 25 basis points (bps) to tackle rising inflation. The World Bank's India Development Update predicts that India's gross domestic product (GDP) growth is likely to soften to 6.3% in FY2024, compared to an earlier estimate of 6.6%, due to slower consumption growth and challenging external conditions. Private consumption growth is expected to be weighed down by rising borrowing costs and slower income growth, and government consumption is expected to increase at a slower pace due to the withdrawal of pandemic-related fiscal support measures.

Following Table Shows Penny Stocks That Gained Most on Wednesday: 

NBCC (India) shares surged 4.26% after the company announced that it received a work order worth Rs 448.02 crore from the Department of Border Management (BM-1 Division), Ministry of Home Affairs, Govt. of India. The contract involves the construction of a border and road of length 88.58 km in the state of Mizoram along the Indo-Bangladesh Border (IBB).