Indian equity markets have been on a rising streak for the last one year with some blue-chip stocks which have beaten the key equity indices even. Apart from the upside in shares, the public offers also received a higher-than-expected response from investors all across. In 2017 alone, there were about 6 IPOs which got subscribed more than 100 times and some have even entered the exclusive club of the companies mobilising over Rs 1 lakh crore. And for those cheering Sensex’s and Nifty’s 27%-28% returns so far in the current year 2017, there is more good news: the benchmark indices may return a further 20% gain in the next year 2018 too, riding on the back of growing corporate revenues and profitability, renowned investment advisor Sandip Sabharwal said.
Given a pick up in both consumer sentiment as well as demand led by infrastructure investments, 2018 should be very good for both top line and profit growth, Sandip Sabharwal of asksandipsabharwal.com told FE Online in an interview, while sharing his outlook on the Indian economy. “2018 will be a good year for risk assets globally driven by strong economic recovery, sufficient liquidity as well as contained inflation,” Sandip Sabharwal added. With a further upside of 20% in Indian equities, we take a look at 6 penny stock under Rs 6 which have gained up to 6% today.
Shares of Chromatic India rose 6% to Rs 2.3; USG Tech Solutions jumped 5% to Rs 4.84; Sea TV Network gained 5% to Rs 3.99; Silver Oak Commercial advanced 4.8% to Rs 2.4; KBS India rose 5% to Rs 3.15 while Nu Tek India zoomed 4.85% to Rs 2.16 on BSE respectively.
Meanwhile, Sensex and Nifty extended losses after opening little down on Tuesday as most of the Asian shares dipped led by the slide in technology stocks on Wall Street overnight. BSE Sensex shed 55.69 points or 0.17% to begin at 32,814.03 whereas NSE Nifty started the day at 10,118.25, down 9.5 points or 0.09%. Within minutes of trading, the 30-share barometer Sensex washed off as much as 187.2 points to hit the day’s low of 32,682.52 while the broader Nifty dropped 58.65 points to mark the day’s low at 10,069.1.