Penny Stocks Locked in the Upper Circuit on August 16, 2022

Sensex soars over 300 points, Nifty crosses the 17,800 level, driven by the auto sector rally. 

On Monday, Wall Street indices gained as mega-cap stocks continued the market rally amid investor confidence that the Federal Reserve would now be able to pause interest rate hikes. While the S&P 500 rose by 0.40%, the Nasdaq Composite index added by 0.62%.

List of Penny Stocks Today: August 16

Following is the list of penny stocks locked in the upper circuit on August 16. Keep a close eye on these counters for the upcoming sessions.

Following strong inflation data, the Indian headline indices opened with respectable gains, and almost all sectors traded higher. The Reserve Bank of India reports that during the week ending August 5, the country's foreign exchange reserves reduced from $897 million to $572.98 billion.  

At 11:20 am, the BSE Sensex added 0.61%, reaching a level of 59,828.16. The Nifty 50 index gained 0.67% to the 17,817.35 level. On the Sensex, Maruti Suzuki, Mahindra and Mahindra and Asian Paints were the top gainers, while State Bank of India, Bharti Airtel and HCL Technologies were the top losers.  

In the broader markets, the BSE Midcap index rose 0.83% and was trading at a level of 24,970.17, whereas the Smallcap index advanced 0.76% and was trading at a level of 28,117.91.  

MRF Ltd, the top performer with gains of more than 5%, led the BSE Auto sector in gains. The company's board of directors recently approved fundraising through the issuance of non-convertible debentures on a private placement basis in one or more tranches totalling not more than Rs 100 crore. 

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