Penny Stocks Locked in the Upper Circuit on August 22, 2022

Domestic indices trade lower with BSE Bankex being the top loser. 

Major US equities declined on Friday as concerns about inflation and the Federal Reserve's plans to counteract it heightened. The shares of heavyweight companies fell, which caused the Wall Street indices to tumble. The Nasdaq Composite slumped 2.01%, the Dow Jones Industrial Average declined 0.86%, and the S&P 500 slipped 1.29%.

List of Penny Stocks Today: August 22

Following is the list of penny stocks locked in the upper circuit on August 22. Keep a close eye on these counters for the upcoming sessions.

With most sectors trading lower by more than 1%, the Indian benchmark indices opened in the red. Kotak Mahindra Bank, Axis Bank, and ICICI Bank were the top draggers of the sector, with BSE Bankex being the session's biggest loser. The FMCG, utility, and power sector stocks, on the other hand, saw modest gains.

At 11:45 am, the BSE Sensex slumped 1.10%, reaching a level of 58,991. The Nifty 50 index fell 1.11% to the 17,562 level. On the Sensex, ITC Ltd, Hindustan Unilever Ltd and Nestle India were the top gainers, while Asian Paints, Kotak Mahindra Bank and UltraTech Cement Company were the top losers.

In the broader markets, the BSE Midcap index slipped 1.12% and was trading at a level of 24,684, whereas the Smallcap index fell 0.79% and was trading at a level of 27,951.

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