Top Penny Stocks Gainers Today - August 30, 2022

Bulls make a comeback on Dalal Street as Nifty closes over 17,750, and Sensex gains more than 1500 points. 

Amid encouraging global cues, the major equity indices concluded the day with significant gains. The Nifty extended its gains as the session went on, opening above 17,400 and closing above 17,750. On the NSE, every sectoral index finished in the black. The barometer index, the S&P BSE Sensex, increased 1,564.45 points or 2.70% to 59,537.07 on a provisional closing basis. To reach 17,759.30, the Nifty 50 index increased by 446.40 points or 2.58%.

List of Penny Stocks Today: August 30

Following Table Shows Penny Stocks That Gained Most on August 30

The S&P BSE Small-Cap index increased 1.40%, while the S&P BSE Mid-Cap index increased 1.97% in the overall market. Market breadth was substantial as 2,409 shares increased and 1,012 shares decreased on the BSE, while 131 shares in total remained unchanged. The India VIX, a measure of market expectations for short-term volatility, dropped 5.66% to 18.70 on the NSE. 

Today's US stock market is expected to start strongly, according to the Dow Jones index futures, which were up 233 points. Following a rough start to the week due to comments made by U.S. Federal Reserve Chair Jerome Powell last Friday, shares in Europe and Asia rose on Tuesday. According to official figures, Japan's unemployment rate stayed the same in July at 2.6%, matching forecasts and remaining steady for the third straight month. 

Due to persistent worries about the Federal Reserve's intention to quickly raise interest rates to combat inflation even as the economy slows, US markets finished down on Monday, compounding the severe losses from the previous week. 

Powell stated that the Fed will "use our weapons decisively" to limit inflation in his yearly policy speech in Jackson Hole, Wyoming. He said that increasing interest rates will hurt individuals and businesses "slightly." Board member of the European Central Bank Isabel Schnabel reiterated the idea that central banks must take robust action to combat increasing inflation, even if doing so forces their economy into a recession.