European Lithium Limited jumped 28.57% to AUD$A$0.13, closing out the day as the biggest winner among small cap shares on the Australian stock market today.

Coming in second was Playside Studios Limited, which gained 20.69% to AUD$A$0.70.

Third was Infinity Lithium Corporation Limited, which gained 20% to AUD$A$0.21.

Next was Tng Limited, which gained 19.05% to AUD$A$0.13.

And rounding out the top five was Arizona Lithium Limited, which increased by 16.25%. to AUD$A$0.09.

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