Watch out for these penny stocks locked in the upper circuit on May 5

After Reserve Bank of India (RBI) lifted the repo rate by 40 basis points (bps) to 4.40 per cent at an off-cycle meeting on Wednesday.

After the Reserve Bank of India (RBI) lifted the repo rate by 40 basis points (bps) to 4.40 per cent at an off-cycle meeting on Wednesday, the Indian markets opened on a positive note on Thursday. The domestic equities saw widespread buying with the bank, auto, and IT sectors leading the market. The sole laggard in the early session was the consumer durables sector. 

S&P BSE Sensex rocketed by 742 points to 56,411.40 at 10.50 am. S&P BSE Midcap index also shot up by 198 points and trades at 23,864.02 levels. S&P BSE Smallcap jumped 250 points and trades at 28,013.92 levels. Sensex Top Gainers include Tech Mahindra (3.02 per cent), Infosys (2.85 per cent), Tata Steel (2.82 per cent), State Bank of India (2.15 per cent), and ICICI Bank (2.11 per cent). 

Nifty 50 index climbed sharply by 208 points and is trading at 16,886.15 levels. Bank Nifty also scaled by 522 points at a level of 35,787.30. The top gainers on Nifty 50 are Hero MotoCorp (3.85 per cent), Tech Mahindra (3.23 per cent), Tata Steel (3.04 per cent), Infosys (2.91 per cent), and ONGC (3.11 per cent). 

Foreign portfolio investors (FPIs) sold shares worth Rs 3,288.18 crore on May 4 while the domestic institutional investors (DIIs) bought shares worth Rs 1,338.00 crore. 

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: