These Penny Stocks are locked in the Upper Circuit on Friday.

These Penny Stocks are locked in the Upper Circuit on Friday.

by 5paisa Research Team Last Updated: 2022-04-04T14:18:58+05:30

Penny stocks reflect the market sentiment to an extent. When you have a broad-based outperformance in penny stocks, you can say that a risk-on rally is happening in the markets.

The Sensex is trading with gains above 400 points and is comfortably sustaining above the crucial 60000 levels.

The IT stocks are catching investors’ attention on Friday with Mindtree and Persistent Systems gaining by more than 5% each on an intraday basis. IT bellwether Infosys and TCS feature amongst the top Sensex gainers on Friday.

BSE IT index is the top sectoral gainer followed by the BSE Metal index. The metal index is supported by Tata Steel, after gaining more than 2%, and is also the top Sensex gainer.

The broader markets however are seen underperforming the frontline indices on Friday.

The market is also cheering the announcement by the RBI where the rates have been kept unchanged. A favourable than anticipated inflation trajectory and downward revision of CPI at 5.30% has allayed any fears of near-term rate hikes. The Governor has assured the markets of ample liquidity while announcing higher VRRRs to absorb the excessive systemic liquidity. The market expected the accommodative stance to continue by the RBI.

With positive sentiment in the market, further supported by the RBI announcement, several penny stocks are outperforming the market on Friday. Few of the trending penny stocks are seen locked in the upper circuit.

Here is the list of penny stocks that are locked in the upper circuit in Friday's trading session:

Sr No   

Stock Name   

LTP   

Price Gain (%)  

1  

JD Power   

5.2  

19.54  

2  

SITI Networks   

2.4  

4.35  

3  

FCS Software   

1.4  

3.7  

4  

Orient Green Power   

4.1  

9.33  

5  

JP Associates   

9.45  

5  

6  

Lloyd Steels  

4.1  

3.8  


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