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E2 Metals Limited (ASX:E2M), the ASX's Biggest Small Cap Winner With 47.92% gain.

E2 Metals Limited jumped 47.92% to A$0.65, closing out the day as the biggest winner among small cap shares on the Australian stock market today.

Coming in second was Devex Resources Limited, which gained 23.42% to A$0.69.

Third was Emyria Limited, which gained 20% to A$0.39.

Next was Saunders International Limited, which gained 19.23% to A$0.93.

And rounding out the top five was Cannon Resources Limited, which increased by 17.86% to A$0.66.

NOTE: Small Cap stocks on the ASX are those with a market valuation between A$50 and A$500 million.