Penny Stocks on Fire in India as Robinhood Traders Pile In
- Basket of penny stocks has trounced Sensex index by 36 ppt
- Small investors are piling into firms that have zero revenue
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India’s retail investors are leaving their mark on a risky corner of the nation’s $1.9 trillion share market: penny stocks.
A custom index of 800 stocks that quote below 5 rupees (7 U.S. cents) has trounced the S&P BSE Sensex index by 36 percentage points this year. The surge was especially strong in June, when the gauge climbed about 10 times faster than the Sensex as India eased its national lockdown.