Top 10 Penny Stocks Gainers Today - July 29, 2022

The major market indices had a good session on Friday and closed close to the day's high. 

The Nifty was able to close above the level of 17,150. The S&P BSE Sensex, the barometer index, increased by 712.46 points or 1.25% to reach 57,570.25 as per provisional closing data. To reach 17,158.25, the Nifty 50 index increased by 228.65 points or 1.35%. The S&P BSE Mid-Cap index increased 1.01% while the S&P BSE Small-Cap index increased 1.38% in the overall market. Market breadth was substantial. 2,095 shares increased and 1,229 shares decreased on the BSE and 147 shares were unchanged overall. 

List of Penny Stocks Today: July 29

Following Table Shows Penny Stocks That Gained Most on July 29

Data on the US economy presented a mixed bag of emotions for investors. The US economy contracted for the second consecutive quarter, according to data released on Thursday, fueling rumours that the Fed may hold off on aggressive interest rate hikes. The findings also suggested that a US economic recession might be on the horizon.

GMM Pfaudler achieved a 20% upper circuit. In comparison to Q1 June 2021, the company's consolidated net profit increased to Rs 44.51 crore from Rs 2.59 crore.

Following a surge on Wall Street, European stocks rose as Asian stocks declined. That came after dismal US GDP data, which signals the Fed would be less aggressive in its cycle of tightening. According to a report released on Friday by the ministry of economy, commerce, and industry, Japan's industrial output increased by 8.9% in June compared to May.

The three major US stock indices ended the day up more than 1%. This came on the back of the investor optimism that the Federal Reserve may not need to be as aggressive with interest rate hikes as some had anticipated was spurred by data showing a second consecutive quarterly downturn in the GDP.