Top 10 Penny Stocks Gainers Today - July 13, 2022

Market Slumps while FMCG, Pharma, and Metal sectors close on the higher side.  

On Wednesday, the major equity indices closed in the red territory. After reaching the day's high of 16,140 in morning trade, the Nifty fell below the critical 16,000 mark. Oil & gas, bank, and financial services stocks fell, while pharmaceutical, healthcare, and FMCG stocks rose. Market breadth was slightly positive as 1,681 shares increased and 1,639 shares decreased on the BSE and 172 shares remained unchanged.

List of Penny Stocks Today: July 13

Following Table Shows Penny Stocks That Gained Most on July 13

The barometer index, the S&P BSE Sensex, dropped 372.46 points or 0.69% to 53,514.15. To reach 15,966.65, the Nifty 50 index dropped 91.65 points or 0.57%. For the third day in a row, the domestic equities barometers continued to move downward. The Sensex has lost 1.78% in three days, while the Nifty has lost 1.57%. The S&P BSE Mid-Cap index increased 0.32% and the S&P BSE Small-Cap index increased 0.04% in the overall market. 

Investors exercised caution prior to the announcement of the US inflation figures on Wednesday. The US Federal Reserve may decide to raise interest rates further at its meeting this month as a result of high inflation readings. Tuesday saw a decline in U.S. stocks as investors stayed away due to concerns over global economic growth.

On Wednesday, European equities dipped broadly while most Asian stocks rose. In the meantime, the Bank of Korea increased rates for the first time by 50 basis points, raising the rate to 2.25%. That is consistent with expert predictions. Rates were also raised by the Reserve Bank of New Zealand by 50 basis points to 2.5%.

Although at a somewhat slower rate than in 2022, the Organization of the Petroleum Exporting Countries (OPEC) predicts that global oil demand will increase further the following year. The OPEC stated in a monthly report that it anticipates a 2.7 million barrel per day (bpd) increase in global oil demand in 2023.