Watch out for these penny stocks locked in the upper circuit on April 04

BSE Bankex and BSE Finance sector showed extraordinary returns of 4.68 per cent & 3.04 per cent, respectively.

BSE Bankex and BSE Finance sector showed extraordinary returns of 4.68 per cent & 3.04 per cent, respectively. The big good news today is that HDFC Ltd has got board approval to merge with HDFC Bank. Around 42 shares of HDFC Bank will be allocated for every 25 shares of HDFC Ltd. Exports touched a record high of $ 418 billion dollars in March, up by 14.53 per cent on a year-on-year basis. The unemployment rate is seen falling to 7.5 per cent in India, showing that the economy is getting back on track after COVID-19 hit two years ago. The buyers predominantly outnumbered sellers to show positivity in the market. On BSE, 2,484 shares rose while 728 shares fell. The FII bought shares worth Rs 1,909.78 crore and the DII had sold shares worth Rs 183.79 crore on April 01.  

BSE Sensex hit the roof by climbing 1,260 points and is seen trading at the level of 60,536.85. Also, BSE MidCap advanced 216 points and is trading at 24,660.58 levels. BSE SmallCap index has also rallied 372 points and trades at the level of 29,072.16. The gaining stocks on BSE Sensex are HDFC (11.95 per cent), HDFC Bank (9.37 per cent), Hindustan Unilever (1.80 per cent), Kotak Mahindra Bank (1.63 per cent), and Bharti Airtel (1.45 per cent).    

Also, Nifty 50 index zoomed by 305 points and is trading at 17,976.05 levels. Bank Nifty too rose exponentially by 1,033 points and trades at 38,181.30 levels. The major contributors to Nifty 50 are HDFC (11.67 per cent), HDFC Bank (9.42 per cent), HDFC Life Insurance (5.31 per cent), Hero MotoCorp (3.00 per cent), and Hindustan Unilever (1.90 per cent).   

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