Penny Stocks Locked in the Upper Circuit on August 12, 2022

Domestic indices trade higher, powered by oil and energy stocks, after reversing early losses. 
According to data, US producer prices (PPI) surprisingly declined in July as the price of energy products fell. Investors processed signs of slowing inflation and hoped that the Federal Reserve would now be able to slow interest rate hikes. The S&P 500 and Nasdaq finished in the red.

List of Penny Stocks Today: August 12

Following is the list of penny stocks locked in the upper circuit on August 12. Keep a close eye on these counters for the upcoming sessions.

The majority of sectors traded higher as domestic indices opened flat. In a market that was generally lacklustre, shares of NTPC Ltd rose 2.5% after the firm announced a dividend of Rs 3 per equity share. Oil and Natural Gas Corporation (ONGC), which saw gains of more than 4%, was the top gainer from the Nifty 50 index. The trading volumes at ONGC, Tata Steel, and NTPC Ltd increased significantly.

At 11:50 am, the BSE Sensex rose 0.12%, reaching a level of 59,405.74. The Nifty 50 index advanced 0.14% to 17,684.50 level. On the Sensex, Tata Steel, NTPC Ltd and Power Grid Corporation of India were the top gainers, while Infosys, Maruti Suzuki, and Mahindra and Mahindra were the top losers.

In line with the US dollar's strength on the international market, the rupee depreciated to 79.71 against the US currency. In other developments, Bharat Forge rallied 7% following strong Q1 earnings. However, shares of Paytm fell 5% after the RBI announced strict guidelines for the digital lending sector.