Watch out for these penny stocks locked in the upper circuit on May 11

During Wednesday's morning session, Indian stocks were trading in the red amid unsettled global markets as investors awaited vital US inflation data, due later in the day.

During Wednesday's morning session, Indian stocks were trading in the red amid unsettled global markets as investors awaited vital US inflation data, due later in the day. Only the Bankex sector, out of all others, witnessed buying. During the session, metal, IT, and FMCG equities were among the worst performers. Inflation in the consumer sector also increased faster than projected. The consumer price index (CPI) increased by 2.1 per cent from a year ago, the quickest rate in five months, after growing by 1.5 per cent in March.  

S&P BSE Sensex nosedived by 419 points to 53,944.92 at 11.35 am. S&P BSE Midcap index also plunged 148 points and trades at 22,094.34 levels. S&P BSE Smallcap tumbled 523 points and trades at 25,557.20 levels. Sensex Top Gainers include Bharti Airtel (0.88 per cent), Kotak Mahindra Bank (0.69 per cent), Axis Bank (0.59 per cent), Sun Pharmaceutical (0.53 per cent), and HDFC (0.52 per cent).   

Nifty 50 index dropped 100 points and is trading at 16,139.10 levels. Bank Nifty also saw a huge decline of 2 points at a level of 34,479.85. The top gainers on Nifty 50 are HDFC Life Insurance (1.01 per cent), Cipla (1.00 per cent), Bharti Airtel (0.81 per cent), Tata Consumer (0.79 per cent), and ONGC (0.78 per cent).   

Foreign portfolio investors (FPIs) sold shares worth Rs 3,960.59 crore on May 10 while the domestic institutional investors (DIIs) bought shares worth Rs 2,958.40 crore.   

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