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

Most of the leading global indices were trading upwards amid positive global cues.

The huge selling was seen in the Indian stocks by foreign investors as they pulled out nearly Rs 25,200 crore from the Indian equity market in the first fortnight of the month - May 2022 amid high inflation, increased interest rates and lockdowns in some Chinese cities.

List of Penny Stocks Today: May 16

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

Shares in the Asia Pacific market grew on Monday as Japan’s headline index Nikkei 225 jumped by 0.49% as investors watched Chinese economic data. SGX Nifty indicated a positive opening for the benchmark index in India with a gain of 40 points.

At 10:50 am, the Nifty 50 was trading at 15,930.15, up by 0.94%. The top gainers in the Nifty 50 pack were Eicher Motors, State Bank of India and JSW Steel. On the other hand, top losers were Shree Cements, Tech Mahindra and UltraTech Cement Company. Nifty Bank was at the level of 33,752.75, jumped by 1.91%. The top performers trading in the green were Bandhan Bank, Bank of Baroda and State Bank of India. No single bank’s share was trading in red territory.

Sensex was trading at a level of 53,244.18 , upwards by 0.85%. Whereas, BSE Midcap index was trading at a level of 22,091.14, up by 1.26%. BSE Smallcap index surged by 0.90% and was trading at a level of 25,544.08. The top performers of Sensex were State Bank of India, Tata Steel and Maruti Suzuki. And, stocks pulling down the index were UltraTech Cement Company, Power Grid Corporation of India and Dr. Reddy’s Laboratories.

On the sectoral front, most of the indices were trading in green, with BSE Metals, BSE Power and BSE Utilities being the best performers.