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

The hike raises the fed funds rate to its highest level since August 2007—a target range of 5 per cent –5.25 per cent.

In the morning trade, the domestic equity benchmarks continued to rise. As was largely predicted, the Federal Reserve increased its benchmark borrowing rate by 25 basis points. The hike raises the fed funds rate to its highest level since August 2007—a target range of 5 per cent –5.25 per cent. 

As of 10:55 am, the BSE Sensex is trading at 61,341 levels, gaining by 148 points. While the S&P BSE Mid-Cap index similarly is trading at a level of 25,924 points surging by 153 points. The Small-Cap index also is trading higher currently at the level of 29,348, climbing 190 points. The NSE index NIFTY50 zoomed by 51 points and is trading at a level of 18,141. The Bank Nifty likewise surged by 31 points and is currently trading at 43,344 level. 

On May 03, the foreign portfolio investors bought securities worth of Rs 1,338.00 crore and the domestic institutional investors (DIIs) were the net sellers of shares worth Rs 583.99 crore.  

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