Watch out for these penny stocks locked in the upper circuit on May 17

On Tuesday, the Indian markets climbed despite mixed global signals.

On Tuesday, the Indian markets climbed despite mixed global signals. Sensex moved ahead of the 53,500 barrier early in the day while Nifty 50 broke the resistance level of 16,000. The volatility is higher as investors remain cautious, owing to inflation concerns, a dull economic outlook, a rise in Brent crude oil prices, and the Chinese lockdown.

The share of Life Insurance Corporation (LIC) gets listed at a discount price vs the issue price of Rs 949 per share. At 10.30 am, it was trading at Rs 902 per share.  

S&P BSE Sensex soared 699 points to 53,673.19 at 10.40 am. S&P BSE Midcap index also scaled up by 233 points and trades at 22,378.53 levels. S&P BSE Smallcap climbed 316 points and trades at 25,922.28 levels. Sensex Top Gainers include Tata Steel (3.96 per cent), Reliance Industries (2.40 per cent), ITC (2.32 per cent), HCL Technologies (2.03 per cent), and Hindustan Unilever (2.01 per cent).   

Nifty 50 index increased by 217 points and is trading at 16,059.15 levels. Bank Nifty also amplified by 270 points at a level of 33,867.10. The top gainers on Nifty 50 are Hindalco Industries (6.38 per cent), Tata Steel (3.72 per cent), JSW Steel (3.60 per cent), Coal India (3.26 per cent), and ONGC (3.09 per cent).  

Foreign portfolio investors (FPIs) sold shares worth Rs 1,788.93 crore on May 16 while the domestic institutional investors (DIIs) bought shares worth Rs 1,428.39 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: