Penny Stocks Locked in the Upper Circuit on Jun 16, 2022

Domestic indices trim early gains, dragged by realty and metal stocks. After opening in the green territory, Indian benchmark indices Sensex and Nifty 50 trimmed the early gains amid weak market sentiments.

List of Penny Stocks Today: Jun 16

Following is the list of penny stocks locked in the upper circuit on June 16. Keep a close eye on these counters for the upcoming sessions.

At 11:30 am, the Nifty 50 was trading at the 15,633.50 level, slipping 0.39%. Maruti Suzuki, ICICI Bank and Reliance Industries Ltd were the top gainers, whereas the top losers were Bharti Airtel, Power Grid Corporation of India and Tata Steel Ltd.

Sensex was trading at a level of 52,388.06, declined by 0.29%. The top stocks trading in green were Maruti Suzuki, ICICI Bank and Reliance Industries Ltd. And, stocks pulling down the index were Hindalco Industries Ltd, Bharti Airtel and Oil and Natural Gas Corporation.

On the other side, Wall Street indices rallied on Wednesday after Federal Reserve announced a rise of 75 basis points to combat the inflation. Fed Chair Jerome Powell said the central bank is not trying to induce a recession, as it cut down projections for the world’s largest economy. Headline indicator Nasdaq Composite surged 2.50%. The Dow Jones Industrial Average advanced by 1% and S&P 500 rose by 1.46%. Heavy buying was seen in the case of Tesla and Amazon as shares of these two giants climbed over 5% each.

Bitcoin has tumbled to a new 18-month low on the fears of recession. The rupee too slipped 18 paise and closed at a new all-time low of 78.22 against the US dollar. In other developments, the financial market regulator, the Securities and Exchange Board of India (SEBI) has instructed all mutual fund houses to ensure a standardized nomination process for all mutual fund investments.

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