India's stock markets closed higher after the seven days of subdued activity following the global sell-off. In today's trade, there were 3 penny stocks as cheaper as below Re 1 gained up to 33% while the benchmark S&P BSE Sensex index rose 330 points.
India’s stock markets closed higher after the seven days of subdued activity following the global sell-off. In today’s trade, there were 3 penny stocks as cheaper as below Re 1 gained up to 33% while the benchmark S&P BSE Sensex index rose 330 points. Shares of Visesh Infotecnics, FCS Software Solutions and KSS grabbed the attention in Thursday’s trading session. All these three shares are prices below Re 1. Shares of IT software services provider Visesh Infotecnics advanced as much as 33.33% to close at a day’s high price of Rs 0.2, according to the data available at National Stock Exchange. Earlier last month, the stock of Visesh Infotecnics hit a 52-week high of Rs 0.35. Wayback in 2013, shares of Visesh Infotecnics made a high of about Rs 3.9 and in 2006, the stock touched a peak of Rs 6.13.
Other two shares below Re 1 which also rallied heavily are FCS Software Solutions and KSS. Shares of FCS Software Solutions surged 16.67% to finish at Rs 0.35. The stock of FCS Software Solutions had jumped about 250% in the last one-month period. As on 1 February 2018, FCS Software Solutions shares ended at Rs 0.1. Shares of KSS also 16.67% zoomed to settle at Rs 0.35. Earlier in January last month, the stock of KSS made 51-week high of Rs 0.55. All three shares have a face value of Re 1 whereas KSS holds the largest market capitalisation among the three stocks. According to today’s closing price of Rs 0.35, KSS held a free-float market capitalisation of Rs 62.38 crore.
Meanwhile today, Indian stock markets finally ended on a positive note after seven days with Sensex scaling as many as 330 points to finish in green after seven days as a sharp uptick in shares of Infosys, Sun Pharma, SBI, HDFC and RIL boosted the key equity indices, also all of the sectoral indices concluded up today. The S&P BSE Sensex gained as much as 330.45 points or 0.97% to close at 34,413.16 and NSE Nifty added 100.15 points or 0.96% to conclude at 10,576.85. On Thursday, the volatility in the market dipped relatively as the volatility indicator, India Vix shed 8.69% to close at 17.7725. Indian equities ended in a positive territory after an extended dull activity in last seven days due to Budget 2018 implications, global sell-off and uncertainties over RBI’s last policy meeting in FY18.