Penny Stocks Locked in the Upper Circuit on September 19, 2022

The gains in financial services and IT stocks are driving the Indian indices higher, defying other markets. 

Investors' concerns over the Federal Reserve's aggressive rate hikes caused major Wall Street indices to drop to levels not seen in nearly two months on Friday. The Nasdaq Composite index slipped 0.90%, Dow Jones Industrial Average declined 0.45%, and the S&P 500 fell 0.72%. Shares of FedEx Corporation plunged more than 20% as a result of warnings about earnings and a deteriorating economic outlook.

List of Penny Stocks Today: September 19, 2022

Following is the list of penny stocks locked in the upper circuit on September  19. Keep a close eye on these counters for the upcoming sessions.

With the exception of Indian markets, major Asian indices also declined today, mirroring the downturn on Wall Street. Due to their gains in spite of the downturn in global markets, Indian benchmark indices attracted global investors. 

While the BSE Telecom sector was the session's biggest drag, the BSE Financial Services sector saw the biggest gains, led by over 5% gains in PNB Housing Finance, Satin Creditcare Network, and Karnataka Bank. 

At 11:50 am, the BSE Sensex gained 0.46%, reaching a level of 59,109. The Nifty 50 index rose 0.42% to 17,604 level. The top gainers on the Sensex were Mahindra & Mahindra, Bajaj Finance and Bajaj Finserv whereas Asian Paints, Tata Steel and Maruti Suzuki were the top losers.  

Main indices gained today, while broader markets underperformed. In the broader markets, the BSE Midcap index fell 0.42% and was trading at a level of 25,450 while the Smallcap index edged down 0.01% and was trading at a level of 29,196. 

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