Penny Stocks Locked in the Upper Circuit on October 11, 2022

Indian benchmark indices trade lower as a result of weak global cues and declines in real estate and metal stocks.

Global indices reacted negatively to stronger-than-expected jobs data that fueled fears about the Federal Reserve's aggressive policies. After a bloodbath in Friday's session, US indices fell again on Monday. The S&P 500 fell 0.75%, the Nasdaq Composite Index plunged 1.04%, and Dow Jones Industrial Average declined 0.32%.

List of Penny Stocks Today: October 11, 2022

Following is the list of penny stocks locked in the upper circuit on October 11. Keep a close eye on these counters for the upcoming sessions.

As a result of the weak economic outlook and surge in Covid-19 cases in China, stocks in both China and Hong Kong experienced a sharp decline. SGX Nifty indicated a negative opening for the broader index in India. 

Massive losses in the metal, energy, and oil & gas sectors caused Indian benchmark indices to open in the negative territory. With all of its constituent stocks trading lower, BSE Realty, which was the worst-performing sector, fell by almost 2%. 

At 11:30 am, the BSE Sensex slipped 0.36%, reaching a level of 57,781. The Nifty 50 index declined 0.36% to the 17,180 level. On the Sensex, Asian Paints, Axis Bank and Bajaj Finserv were the top gainers, whereas IndusInd Bank, Dr Reddy’s Laboratories and Tata Consultancy Services were the market draggers.  

The BSE Midcap index fell 0.37% and was trading at a level of 25,069 while the Smallcap index lost 0.13% and was trading at a level of 28,975. 

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