Penny Stock Update: These shares gained up to 10% on Friday

The Nifty gained 1.13% today, while the Sensex gained 1.1% to settle at 54884.66. 

The Nifty Oil & Gas index dropped 1% to 7,686 points. According to reports in the media, India is considering imposing a "windfall tax" on oil and gas companies (both state-owned and private) to offset rising government spending on fuel, food, and fertiliser subsidies in the face of rising inflation. The tax, which could be imposed when oil prices, for example, reach a specific level, will bolster the government's coffers and assist pay measures to safeguard vulnerable groups from rising inflation, according to reports. Energy businesses, for example, are said to have benefited from the global surge in energy prices caused by Russia's invasion of Ukraine. 

The barometer index, the S&P BSE Sensex, rose 632.13 points, or 1.17%, to 54,884.66 according to provisional closing data. To 16,352.45, the Nifty 50 index rose 182.30 points or 1.13%. The stock market as a whole surpassed the benchmark indexes. The S&P BSE Mid-Cap index increased by 1.69%, while the S&P BSE Small-Cap index increased by 1.20%. The number of buyers outnumbered the number of sellers. On the Bombay Stock Exchange, 2,215 shares climbed and 1,106 declined, 127 shares remained unchanged. 

Today, the Nifty IT index closed at 28641.6, up 2.54%. Over the last month, the index has dropped 9%. Coforge Ltd increased by 5.57%, Mindtree Ltd increased by 4.29%, and Tech Mahindra Ltd increased by 4.14%. Over the last year, the Nifty IT index has risen 5.00%, compared to 6.62% for the benchmark Nifty 50 index. Other indices rose on the day, with the Nifty Media index rising 2.49% and the Nifty Private Bank index rising 1.84 %. On Friday, European and Asian stocks rose across the board as fears of monetary policy tightening faded slightly. 

The following Table Shows Penny Stocks That Gained the Most on Friday