Watch out for these penny stocks locked in the upper circuit on March 7

The Indian markets experienced carnage on Monday's early trade due to weakening in global markets as concerns over the Russian invasion of Ukraine fuels and also the crude oil reaching a multi-year high.

The Indian markets experienced carnage on Monday's early trade due to weakening in global markets as concerns over the Russian invasion of Ukraine fuels and also the crude oil reaching a multi-year high. A broad-based sell-off was witnessed across indices on exchanges BSE and NSE along with global markets. A spike in crude oil prices and currency depreciation has caused higher input costs for companies across sectors. Also, rising global inflation has made investors cautious. The foreign investors were seen pulling off money from the Indian market, FII outflow of 7,631.02 crore and domestic investor inflow of Rs 4738.99 crore was seen on Friday.   

The BSE Sensex index is trading at 53,101.30, which recovered after hitting 52,500 but is still down by 1232 points. The top gaining stocks today are Bharti Airtel, HCL Technologies, Infosys, Wipro and Tata steel. BSE MidCap is also trading in red down by 501 points at 22,116.93 points. BSE SmallCap has dropped today by 519 points and is trading at 25,767.46. 

The Nifty 50 index is trading at 15,893.75 levels slipping by 351 points. The top gaining stocks are ONGC, Hindalco Industries, Bharti Airtel, UPL, and Coal India, gaining more than 1.5 per cent each. The Stocks that have declined today are Maruti Suzuki, Axis Bank, Induslnd Bank, Bajaj Finserv, and SBI falling more than 4.9 per cent each. 

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