Daily Stock Market News

The Stock Market Is Showing A Decline This Morning, But Many Penny Stocks Have Engulfed

Mumbai: A sell-off continues in the Indian market amid weak global cues and expectations of a tightening monetary policy. The Sensex and Nifty 50 indices opened lower but the situation improved as the day progressed. At 10:50, the BSE Sensex was trading at 56,760 points, down 0.61%. The Nifty 50 index was also down 0.59% at 16,907 points. Sun Pharmaceuticals, Dr Reddy’s Laboratories and Mahindra & Mahindra were the top gainers in the Sensex pack, while ITC, IndusInd Bank and Axis Bank (Axis Bank) had the biggest decline. Amidst a weak market, Rama Phosphates caught the attention of investors and was the top performing smallcap stock with a gain of about 10 per cent.

BSE Telecommunications Sector (BSE Telecommunications) was the biggest gainer. This happened because of the tremendous growth in ITI Ltd. BSE Healthcare and BSE Auto saw marginal gains. BSE Metals has lost more than eight per cent in the last five sessions. Today again it had the biggest decline.

In other news, for the seventh week in a row, foreign exchange reserves have fallen continuously. For the week ended September 16, it fell to $545.65 billion. Economic Affairs Secretary Ajay Seth says that there is no need to panic due to the fall in foreign exchange reserves. He said that India has enough foreign reserves to deal with the current situation. Here is a list of penny stocks that touched the upper circuit today. Keep a close watch on these stocks in the coming days.

This article is powered by Dalal Street Investment Journal, India’s No. 1 investment magazine. Click here for regular updates on Winning Stocks and Recommendations.

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