Watch out for these penny stocks locked in the upper circuit on January 09

The largest drivers of the increase in both headline indices were gains in the banking, IT and FMCG sectors of the stock market.

S&P BSE Sensex and NSE Nifty50, two Indian stock benchmarks, recorded significant increases on Monday supported by advances across sectors, echoing market movements in other parts of the world amid hope that the US will decrease the pace of its rate hikes. The largest drivers of the increase in both headline indices were gains in the banking, IT and FMCG sectors of the stock market. 

The barometer index, the S&P BSE Sensex, surged by 876 points at 11:30 IST and is currently trading at a level of 60,777. The S&P BSE Mid-Cap has also increased by 204 points, trading at a level of 25,371 at the moment. The Small-Cap index is currently up 229 points, trading at 28,229 levels. 

The Nifty 50 index saw a boost of 246 points, trading at 18,106 levels. The Bank Nifty is currently trading at a level of 42,532 and has increased by 343 points as well. 

On January 05, the foreign portfolio investors (FPIs) turned out to be the net sellers 2902.46 crore, while the domestic institutional investors (DIIs) were the net buyers of shares worth 1,083.17 crore. 

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