Watch out for these penny stocks locked in the upper circuit on February 2!

Indian markets extended their gains on Wednesday's at the opening bell as investors cheered the Union Budget 2022 which met the street's expectations and positive global cues.

Indian markets extended their gains on Wednesday's at the opening bell as investors cheered the Union Budget 2022 which met the street's expectations and positive global cues. The correction and the recent rally were, in fact, reactions to global market cues. FII sharply trimming their selling to just Rs 21.79 crore helped the Budget rally and DII inflow of Rs 1,597.70 crore was recorded. But FIIs are likely to sell the rallies again since they consider Indian valuations excessive. 

The BSE Sensex index increased by 599 points and is trading at a level of 59,462.10. BSE MidCap has soared and is trading at 25,122.20 up by 244 points. The gaining stocks today in the index are Vodafone Idea (7.86 per cent), Union Bank (4.84 per cent), and Oracle Financial Services Software (3.90 per cent). BSE SmallCap also climbed and is trading at 29,925.92 up by 429 points. The top gainers are Spandana Sphoorty Financial (17.06 per cent), Nahar Polyfilms (16.41 per cent), and Dhanvarsha Finvest (15.40 per cent). 

The Nifty 50 index is trading at 17,723.55 levels up by 146 points. The major contributors are Bajaj Finserv, Induslnd Bank, Bajaj Finance, Kotak Bank, and HCL Technologies contributing the majority of the index gain. The stocks of Tech Mahindra, Adani Ports, Sun Pharmaceuticals, Larsen & Toubro, and UltraTech Cement were among the top loser today. 

Following is the list of penny stocks locked in the upper circuit today. Keep a close eye on these counters for the upcoming sessions.