Watch out for these penny stocks locked in the upper circuit on May 31

On May 31, 2022, the government will release figures for the first quarter's gross domestic product (GDP).

In the morning trade, the domestic equities barometers recovered from their initial lows and traded with slight cuts. Nifty was seen recovering from the early low of 16,521.90, hovering just above the 16,590 mark. For the fourth trading session in a row, auto stocks have risen. Traders took profits as the stock market surged for three days in a row. On May 31, 2022, the government will release figures for the first quarter's gross domestic product (GDP).  

BSE Sensex opened on a negative note, losing by 63 points and trading at a level of 55,862 at 11.05 am. S&P BSE Midcap index trades higher by 158 points at 23,186 levels. S&P BSE Smallcap soared 269 points and trades at 26,461 levels. Sensex Top Gainers include Mahindra & Mahindra (3.45 per cent), Power Grid Corporation of India (1.75 per cent), NTPC (1.62 per cent), Tata Steel (1.39 per cent), and Tech Mahindra (1.25 per cent).   

Likewise, Nifty 50 index recovered its morning loss and is only down by 2 points, trading at 16,660 levels. Bank Nifty also increased by 37 points and is at a level of 35,864. The top gainers on Nifty 50 are Mahindra & Mahindra (3.63 per cent), ONGC (2.53 per cent), Bajaj Auto (2.28 per cent), JSW Steel (1.82 per cent), and Coal India (1.79 per cent).  

Foreign portfolio investors (FPIs) bought shares worth Rs 502.08 crore on May 30 while the domestic institutional investors (DIIs) bought shares worth Rs 1,524.49 crore. In the commodities market, Brent crude for July 2022 settlement was up at $123.4 a barrel. The Indian rupee depreciated by 0.15 per cent and trades at Rs 77.66 for one dollar.  

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