Top 5 Penny Stocks Gainers Today - May 12, 2022

The Indian stock market hit a 9-week low on Thursday with the Sensex closing down more than 1100 points, while the Nifty slipped below 16,000 level.

On Thursday, domestic equity indices fell sharply on fears of an impending recession that was confirmed by the inflation data released by the US for the month of April. During the afternoon session markets lowered, dragged by Metal, Power and Utility shares and ahead of domestic retail inflation numbers.

Top 5 Gainers Penny Stocks Today: May 12

Following table shows penny stocks that gained most on Thursday

The S&P BSE Sensex, the barometer index, fell 1,158.08 points, or 2.14%, to 52,930.31. Settling at 15,808, the Nifty 50 index was down 359.10 points, or 2.22%. The worst performing stock within Sensex was IndusInd Bank rattling 5.82% on an intraday basis.

In line with the overall market drop, S&P BSE Mid-Cap index dropped 2.24%, while the S&P BSE Small-Cap index dropped 1.94%. About 747 shares have advanced, 2542 shares declined, and 84 shares are unchanged. India VIX, the NSE's fear index increased by 6.41% to 24.26.

The hawkish stance of the Fed surprised the market, restricting liquidity, which is likely to limit more setbacks in the future. The markets are expected to stabilize as FIIs may reduce selling, factoring inflation. Indian rupee ended 19 paise lower at 77.42 per dollar on Thursday versus Wednesday’s close of 77.23.

The number of stocks locked in the upper circuit was 10 while only 1 stock closed in the lower circuit today. Around 50 stocks touched a fresh 52-week high while 330 stocks hit a new 52-week low on Thursday.