Watch out for these penny stocks locked in the upper circuit on March 13

Breathing a sigh of relief, US authorities approved a plan for Silicon Valley Bank to protect depositors and ensure that no losses would be paid by taxpayers on Sunday (March 12) night.

The Indian equity benchmarks Sensex and Nifty50 began the week with slight losses on Monday, as global markets reacted negatively to the closure of US-based SVB Financial Group. Breathing a sigh of relief, US authorities approved a plan for Silicon Valley Bank to protect depositors and ensure that no losses would be paid by taxpayers on Sunday (March 12) night. 

At 11:20 am, the benchmark BSE Sensex is trading at 59,090 levels with slight loss of 45 points. The S&P BSE Mid-Cap has plunged by 177 points and is currently trading at a level of 24,440 points. Similarly, the Small-Cap index dropped by 310 points to trade at a level of 27,642 points. 

The broader NSE index NIFTY50 fell by 16 points merely, to 17,396 levels while, the Bank Nifty is currently trading at a level of 40,386, falling by 99 points. 

On March 10, the foreign portfolio investors (FPIs) turned out to be the net sellers of shares worth Rs 2,061.47 crore and the domestic institutional investors (DIIs) turned out the net buyers of shares worth 1,350.13 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: