Penny Stocks Locked in the Upper Circuit on August 29, 2022

Indian domestic indices tumbled along with the rest of the world's markets pulled down by IT and technology stocks.

Due to the US Federal Reserve's relentless drive to raise interest rates, US markets saw a bloodbath on Friday. The Wall Street indices slumped more than 3% each as investors realised that the Fed would likely need to maintain high interest rates for some time in order to control inflation.

The Nasdaq Composite plunged 3.94%, The Dow Jones Industrial Average tumbled 3.03%, and the S&P 500 slipped 3.37%. The rupee depreciated to an all-time low of 80.15 against the US dollar.

List of Penny Stocks Today: August 29

Following is the list of penny stocks locked in the upper circuit on August 29. Keep a close eye on these counters for the upcoming sessions.

Indian benchmark indices opened with sharp decline, as many analysts had predicted, mirroring the dip in global markets. The indices had a 2% gap down when they started trading, but eventually pared back a few of those losses.

At 11:45 am, the BSE Sensex plunged 1.33%, reaching a level of 58,052. The Nifty 50 index dipped 1.30% to 17,330 level. On the Sensex, Nestle India, Hindustan Unilever Ltd and Maruti Suzuki were the top gainers, while Tech Mahindra, Infosys and Wipro were the top losers.

In the broader markets, the BSE Midcap index slipped 1.06% and was trading at a level of 24,853, while the Smallcap index lost 0.77% and was trading at a level of 28,196.

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