Watch out for these penny stocks locked in the upper circuit on June 7

RBI is likely to raise the policy rate again after the 40 basis point off-cycle rate hike on May 4, 2022.

In the early hours of Tuesday morning, the Indian markets were bleeding due to a lack of investor confidence. RBI is likely to raise the policy rate again after the 40 basis point off-cycle rate hike on May 4, 2022. The Monetary Policy Committee (MPC) of RBI will be held from June 6 to 8, 2022. Pharmaceuticals, real estate, healthcare, consumer durables, fast-moving consumer goods (FMCG), and information technology slipped more than a per cent each. The only sectors trading in the green were Nifty Oil & Gas and PSU banks.   

Sensex traded with major gains of 498 points at 55,176 at 10.35 am. However, BSE Midcap index fell 168 points and trades at 22,570 levels. Smallcap index too trades in red, down by 117 points at 26,615 levels. Sensex only Top Gainers are Reliance Industries, NTPC, Power Grid Corporation of India, and State Bank of India. The Top Losers on BSE today are Dr Reddy’s Laboratories, Titan, Hindustan Unilever, Asian Paints, and Nestle India.  

Likewise, Nifty 50 index plunged 151 points and is trading at 16,417 levels. Bank Nifty also sunk 226 points at a level of 35,083. The top gainers on Nifty 50 are ONGC, Coal India, BPCL, NTPC, and Bajaj Auto. On the other hand, the top losing stocks are Titan, Dr Reddy’s Laboratories, UltraTech Cement, Asian Paints, and Hindustan Unilever.  

Foreign portfolio investors (FPIs) sold shares worth Rs 2,397.65 crore on June 6 while the domestic institutional investors (DIIs) bought shares worth Rs 1,940.00 crore.     

Following is the list of Penny Stocks that got locked in the upper circuit on Tuesday. Keep a close eye on these counters for the upcoming sessions: