Watch out for these penny stocks locked in the upper circuit on May 17

Indian markets dipped on Wednesday as investors were concerned about negative global cues as debt ceiling talks in the United States weighed.

According to three analysts, the index has increased 5.34 per cent this fiscal year, boosted by a strong earnings season and continuous buying from foreign institutional investors (FII). Metal stocks fell 0.5 per cent on worries about demand recovery in China, which has been plagued by dismal macroeconomic data from the world's largest buyer and producer of metals.

As of 11:15 am, the BSE Sensex is trading at 61,711 levels, losing 221 points. While the S&P BSE Mid-Cap dropped by 59 points and is trading at a level of 26,311 points. The Small-Cap index also is trading higher on the other hand at a level of 29,816 gaining only 17 points. The NSE index NIFTY50 slipped by 54 points at a level of 18,232. The Bank Nifty following fell to a level of 43,850 level but is in red down by 53 points.

On May 16, the foreign portfolio investors bought securities worth of Rs 1,406.86 crores and the domestic institutional investors (DIIs) were the net sellers of shares worth 886.17 crores. 

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