Watch out for these penny stocks that are locked in the upper circuit on May 29
Nifty Bank jumped to a new record high on Monday, crossing the 44,400 level, partly due to nonstop purchasing by overseas institutional investors.
Indian markets rose on Monday, powered by an increase in financials, while positive global indications from a weekend debt ceiling deal in the United States added weight. The HDFC twins were the most important contributors to the gains of the Sensex and Nifty.
As of 10:35 am, the BSE Sensex is trading at levels of 62,936, gaining 435 points. The S&P BSE Mid-Cap also increased by 79 points and is trading at a level of 26,882 points. The Small-Cap index also jumped by 143 points and is trading at a level of 30,306. The NSE index NIFTY50 climbed by 117 points and is trading at a level of 18,616. The Bank Nifty, in a similar manner, soared by 398 points to a level of 44,416.
On May 26, foreign portfolio investors bought securities worth Rs 350.15 crores, and the domestic institutional investors (DIIs) were also net buyers of shares worth Rs 1,840.98 crores.
DSIJ offers a product called 'Tiny Treasure' with recommendations for small-cap and micro-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then download the product details PDF here.
The following is the list of Penny Stocks that got locked in the upper circuit on Monday. Keep a close eye on these stocks for the upcoming sessions: