Indian stock markets are hovering near record highs amid the continued support from the domestic buyers. In the last 12 month period, Indian equities have shown an unmatched performance as compared to the major economies of the world. Despite heavy sell-off pressure from the FIIs (foreign institutional investors) for the last 2-3 months, Indian stock markets were able to uphold the rally. There might be many penny stocks which have grown multifold over the last 12 month period. We bring to you 11 penny stocks priced below Rs 5 which have gained 5% today.
Shares of Surana Industries gained 5.73% to Rs 2.95; KBS India rose 5% to Rs 2.73; Quest Softech (India) advanced 5% to Rs 3.15; Stellar Capital Services added 4.93% to Rs 3.83; Supreme Tex Mart 4.9% to Rs 2.57; Haria Apparels zoomed 4.89% to Rs 3.22; Sea TV Network rose 4.89% to Rs 3.65; Glittek Granites advanced 4.86% to Rs 2.59; Cybermate Infotek jumped 4.86% to Rs 3.67; Vertex Securities gained 4.85% to Rs 2.81 while Urja Global rose 4.83% to Rs 3.69.
Today, India is scheduled to announce the July-September GDP growth rate today at 5.30 pm. The second quarter GDP growth rate is going to record the impact of the Goods and Services Tax on the economy for the first time since its implementation. It is being estimated that India will embark upon an upward growth after 5-quarters of slowdown, especially after hitting a 3-year low to 5.7% in the previous quarter due to self-imposed note ban and massive destocking ahead of an ambitious switch to the GST regime.
Meanwhile, on the other hand, key equity indices Sensex and Nifty continue to trade lower in the afternoon trade on Thursday as investors sentiments seemed to have likely turned negative ahead of India’s GDP growth data which is due later today evening. The stocks of ICICI Bank, HDFC, Kotak Mahindra Bank, SBI, Reliance Industries, Axis Bank and ITC contributed the most to the index decline. Collectively these 7 stocks alone washed off about 190 points out of the Sensex. BSE Sensex lost 330.01 points to hit the day’s low of 33,272.75 while NSE Nifty shaved off 100.9 points to mark the day’s low at 10,260.4. The Indian rupee is also trading lower against the US dollar.
The rupee slipped 24 paise at 64.55 against the US dollar in early trade today. Earlier yesterday, the Indian rupee remained unfazed by the North Korean ballistic missile launch. The Indian currency continued to rise for the third consecutive day and marked a three-month high vs US dollar gaining 9 paise to close at 64.32.