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Indian markets posted a strong rebound in the holiday-shortened three-day trading week, with benchmark indices rallying over 4.5% on the back of positive cues from both domestic and global fronts. The Nifty and Sensex closed near their weekly highs at 23,851.65 and 78,553.20, respectively, supported by optimism over tariff deferrals, product exemptions, easing retail inflation, and the absence of global shocks.While the broader market rallied sharply, it was the smallcap segment that stole the spotlight, with several stocks posting weekly gains of up to 30%. The rally was broad-based, with notable participation from realty, financials, and other sectors, and reflected strong risk-on sentiment despite the prevailing macroeconomic uncertainties.
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Despite recession fears, Indian markets rebounded strongly, with the Nifty and Sensex closing near weekly highs. Realty, banking, and financials led the gains, supported by bullish technical indicators. Analyst Sudeep Shah anticipates further upside for Nifty and Bank Nifty, driven by positive FII activity and strong sectoral performance in private and PSU banks.
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In the week ending April 17, the benchmark Sensex rose by approximately 4.5%. Amid this broader market rally, seven penny stocks posted gains ranging from 10% to 24%. Our selection criteria focused on stocks with a market capitalisation below Rs 1,000 crore, a share price under Rs 20, and a minimum trading volume of 5 lakh shares based on the latest data. (Data Source: ACE Equity)
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