Penny Stocks Locked in the Upper Circuit on July 1, 2022

Indices plunge amid weak global cues while Rupee hits new lifetime low of 79.11 per dollar

All the major Wall Street indices finished the month and the second quarter in negative territory. The Dow Jones Industrial Average declined 0.82% whereas S&P 500 slipped 0.88%, marking its steepest first-half percentage drop since 1970. The Nasdaq Composite plunged 1.33%.

Tracking the weakness from the global markets, Indian benchmark indices also opened in the red territory. At 11:40 am, the Nifty 50 was trading at the 15,611.95 level, fell by 1.07%. On the Nifty 50 index, the top gainers were Bajaj Finserv, Asian Paints and Cipla Ltd whereas; Oil and Natural Gas Corporation, Reliance Industries Ltd and Titan were the top losers of the session.

Sensex was trading at a level of 52,475.40, declined by 1.03%. The stocks trading in the green were Bajaj Finserv, Asian Paints and ITC Ltd. Reliance Industries Ltd, Titan and Bharti Airtel were the top draggers of the session. Wardwizard Innovations, Motor and General Finance Ltd and Lasa Supergenerics Ltd were the top gainers on the BSE as all these stocks rallied and locked up in the 20% upper circuit.

The rupee depreciated to an all-time low of 79.11 against the US dollar. India has raised the basic import duty on gold to 12.5% from 7.5% in order to reduce the pressure on the rupee. On the other side, oil prices rose in early trade after falling 3% in the prior session.

Following is the list of penny stocks locked in the upper circuit on July 01. Keep a close eye on these counters for the upcoming sessions.