Check out these penny stocks that have more than doubled in 2022!

In this post, we would like to highlight those penny stocks that are prone to high volatility and often move to upper or lower circuits

The current market sentiments are affected by factors such as rising inflation, aggressive monetary tightening, the Russia-Ukraine war, rising cases of COVID-19, and the rise in the crude price. In the last one month, the benchmark indices have fallen over 5 per cent whereas India VIX jumped 23.35 per cent, depicting hefty volatility.  

As compared to the global markets, the Indian equity markets stand in a better position. In 2022, so far, Sensex has dropped 8.41 per cent whereas Nifty fell 7.88 per cent. On global markets front, Dow Jones Industrial lost almost 13.34 per cent, NASDAQ declined by 27 per cent, Russell 2000 index is 21 per cent down while S&P 500 has slipped by around 18 per cent. In the Asian markets, Shanghai Composite index contracted by almost 15 per cent whereas Hang Seng tumbled by around 14 per cent.  

Considering the companies with a market cap of more than Rs 5,000 crore, around 31 per cent of the companies have rewarded investors with positive returns. In this post, we would like to highlight those Penny Stocks that are prone to high volatility and often move to upper or lower circuits. In a falling environment prevailing in the equity markets, there were several penny stocks that have made investors happy. We found that as many as 108 penny stocks delivered positive returns on a YTD basis while nine of them managed to more than double investors’ wealth on a YTD basis alone. 

Following is the list of the nine penny stocks that have delivered attractive returns in 2022, so far: