These penny stocks were locked in the Upper Circuit on Thursday.

Penny stocks are the ones that trade below Rs 10 per share and have low market capitalization. With a risk-on mood in the markets on Thursday, several penny stocks were seen outperforming the markets.

Nifty opened with a 'gap-up' and then inched up till about 1.15 pm when it made an intraday high. Some profit-taking post that level was seen. At close, Nifty was up 0.82% or 144.3 points at 17790 levels. To summarize, about 2096 shares advanced, 1023 shares declined, and 119 shares remained unchanged. Tata Motors, Titan Company, M&M, Maruti Suzuki and Eicher Motors were the top gainers on Nifty.

Realty, Consumer Durables and Auto indices gained the most while Oil & Gas and Telecom were the two indices that ended in the negative. The volumes were on the higher side on Thursday which is a good sign.

The commencement of the festive season boosted activity in textiles, consumer durables and real estate stocks. Meanwhile, despite the global semiconductor shortage, auto stocks witnessed a rally in hopes of demand revival during the festive season. Ahead of earnings starting from Friday, the IT index also lent good support.

For the next trading session, the markets are likely to be glued to the outcome of the MPC’s monetary policy review meet and the result of the IT major TCS which is scheduled on Friday.

Participating in the rally of the markets, the penny stocks also attracted the investors by gaining up to 8.7%. Some of the penny stocks are locked in the upper circuit.

Here is the list of penny stocks that gained up to 8% with a spurt in volume on a closing basis on Thursday: