Top 10 Penny Stocks Gainers Today - September 16, 2022

On Friday, the major market indices fell, extending losses for the third trading day. 

The mood of investors was low by negative global indications. The Nifty finished under the 17,600 mark as widespread selling occurred, with media, real estate, and IT equities plummeting the most.

List of Penny Stocks Today: September 16

Following Table Shows Penny Stocks That Gained Most on September 16

The S&P BSE Sensex, the barometer index, fell 1,093.22 points, or 1.82%, to 58,840.79. Nifty 50 index dropped 17,530.85 points, or 346.55 points, or 1.94%. The Sensex has decreased 2.86% over three straight sessions, while the Nifty has decreased 2.98%. The benchmark indices outperformed the overall market. In contrast to the S&P BSE Small-Cap index which decreased by 2.38%, the S&P BSE Mid-Cap index fell by 2.85%. Market breadth was not strong as 989 shares increased and 2,517 shares decreased on the BSE and 104 shares in total remained unchanged. 

The NSE's India VIX, a measure of the market's expectation of short-term volatility, increased 7.77% to 19.82. The Nifty Media index dropped to 2,081.35 by 4.07%. In two trading sessions, the index fell 6.15%. 

Tata Metaliks gained 3.29%. The company officially opened phase one of the Kharagpur ductile iron (DI) pipe plant expansion project. The capacity of the company's ductile iron pipe production would increase to over 4 lakh tonnes per year in two phases thanks to this Rs 600 crore expansion project. 

According to stock market statistics as of Friday at 15:21 IST, bids for the Harsha Engineers International initial public offering (IPO) totalled 121.91 crore against the 1.68 crore shares that were being offered (16 September 2022). There were 72.29 subscriptions to the issue.  

The US Dow Jones index futures were down 279 points, signalling a downturn in today's opening of US stocks. As investors analysed US economic statistics and China's industrial production and retail sales figures for August, shares throughout Europe and Asia fell on Friday. According to reports, the World Bank yesterday cautioned against a worldwide recession in 2023 and said central bank rate hikes might not be sufficient to lower inflation.