Bears take charge of market amid selling in IT, Pharma & Banking
At close, the Sensex was down 720.60 points or 0.90 per cent at 79,223.11, and the Nifty was down 183.90 points or 0.76 per cent at 24,004.75.
Penny stocks such as Rajrayon Industries, Alps Industries, Zenith Birla India and Radaan Mediaworks India have given handsome returns in the past one month to become multibaggers.
Stock prices ranging in low single digit are known as penny stocks, and they typically have high volatility associated.
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On the other hand, multibagger stocks are those whose share prices rise exponentially over a short period of time.
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These stocks rose 78 per cent, 93 per cent, 86 per cent, and 60 per cent in the past one-month, exchange data showed.
During the same period, benchmark Sensex and Nifty indices too performed well, rising over 10 per cent each.
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