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

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Penny Stocks to Buy
by 5paisa Research Team Last Updated: 2022-09-16T12:10:18+05:30

Domestic indices are lowered as a result of eight sectors experiencing declines of more than 1% each. 

As investors worried about the Federal Reserve's aggressive strategy to reduce inflation, the major Wall Street indices finished lower overnight, dragged by technology stocks. The Nasdaq Composite Index slumped 1.43%, the Dow Jones Industrial Average fell 0.56%, and the S&P 500 lost 1.13%. Fitch Ratings reduced its previous prediction of 7.8% growth for India's current fiscal year to just 7%.

List of Penny Stocks Today: September 16, 2022

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

Sr No  

Stock Name  

LTP  

Price Change (%)  

1  

Royal India Corporation  

3.12  

20  

2  

Saboo Sodium Chloro  

6.93  

10  

3  

Sudal Industries  

9.47  

4.99  

4  

Kay Power and Paper   

8.41  

4.99  

5  

Mayur Leather Products  

7.79  

4.99  

6  

Jagjanani Textiles  

3.58  

4.99  

7  

Eureka Industries  

6.32  

4.98  

8  

E-Land Apparel  

6.32  

4.98  

9  

ECS Biztech  

5.27  

4.98  

10  

Archana Software  

3.81  

4.96  

SGX Nifty indicated a negative opening for the broader index in India. Losses in technology stocks caused significant drops in Indian headline indices at the opening bell. With losses of more than 2%, BSE IT was the biggest loser of the opening session. All the sectors traded lower, and the auto, metal, and energy sectors all suffered significant losses. 

At 11:25 am, the BSE Sensex fell 1.03%, reaching a level of 59,314. The Nifty 50 index slipped 1.09% to the 17,681 level. The top gainers on the Sensex were IndusInd Bank, Sun Pharmaceuticals and Titan whereas Tech Mahindra, Mahindra and Mahindra and Tata Consultancy Services were the top losers. 

In the broader markets, the BSE Midcap index declined 1.06% and was trading at a level of 26,027 while the Smallcap index lost 0.69% and was trading at a level of 29,705. 

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