Watch out for these penny stocks locked in the upper circuit on August 16

Sensex and Nifty indices initiated the session with declines, marking drops of 0.21 per cent and 0.31 per cent respectively.

Pre-market scenario, Stock futures for Tuesday night showed little change following a recent session of losses in the midst of the ongoing decline in August. Dow Jones Industrial Average futures experienced a slight uptick of 2 points, remaining near the unchanged mark. In a similar vein, both S&P 500 and Nasdaq 100 futures demonstrated minimal fluctuations. These occurrences followed a trading day on Wall Street where all three primary indices concluded with a decline of over 1 per cent on Tuesday.

At 09:30 AM, The beginning of the trading day witnessed early losses for benchmark indices, as both the Sensex and Nifty indices initiated the session with declines, marking drops of 0.21 per cent and 0.31 per cent respectively.

In the realm of broader indices, the Nifty Mid-Cap also started with a decline of 0.28 per cent, while the Nifty Small-Cap showed marginal gains of 0.12 per cent.

A significant gauge of market volatility, the India VIX, experienced a notable surge of 3.67 per cent, indicating an increase in market uncertainty.

Turning our attention to sectoral performance, the Nifty IT, Nifty Media, and Nifty FMCG categories emerged as the Top Gainers in the initial stages of trading, displaying noteworthy positive momentum. Conversely, the Nifty Metal, Nifty Financial Services, and Nifty Bank sectors are grappling with losses, positioning them among the primary losers.

Zooming in on specific stocks, Tech Mahindra, Infosys, and ITC stand out as top gainers within the Nifty 50 index. On the contrary, Hindalco, Hero Motocorp, and Britannia are experiencing declines, making them notable losers.

Assessing the broader market sentiment, approximately 993 stocks are on an upward trajectory, while 887 stocks are witnessing declines. This balanced discrepancy reflects a neutral sentiment prevailing in the broader market landscape.

On August 14, foreign institutional investors (FII) Offloaded shares worth Rs 2,324.23 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,460.90 crore.

Following is the list of Penny Stock that got locked in the upper circuit on August 16, 2023:

Investors should keep an eye on these Penny Stocks.

Disclaimer: The article is for informational purposes only and not investment advice.