Watch out for these price volume breakout stocks
Indian equity market is trading downwards today as sugar stocks slump, whereas gains are witnessed in the banking sector.
Overnight, the Wall Street indices seesawed amid mixed global cues and high inflation. The Dow Jones Industrial Average rose 0.15%. In contrast, Nasdaq and S&P 500 lost 2.35% and 0.81%, respectively. Heavy selling was seen in the shares of Tesla as the scrip slipped 6.93%. The stock lost more than 35% over a month since Musk announced the Twitter deal would be on hold.
Major leading Asian markets were trading in the green territory, except India’s domestic indicator Sensex and Japan’s Nikkei 225. SGX Nifty indicated a positive opening with a gain of 71 points. At 12:10 pm, BSE Sensex fell 0.28% and was at a level of 53,902.87. The top gaining stocks on Sensex were Kotak Mahindra Bank, Nestle India and ICICI Bank. The Nifty 50 index was trading at 16,073.90 points, down by 0.32%. The top shares trading in green were SBI Life Insurance Company, HDFC Life Insurance Company and Kotak Mahindra Bank.
On the sectoral front, all of the indices were trading in red, except BSE Finance and BSE Bankex. The most affected sectors were BSE IT, BSE Realty and BSE Teck. Shares of sugar companies slumped as India is going to restrict sugar exports as a precautionary measure to secure its domestic food supply. As a result, shares of Dwarikesh Sugar Industries Ltd, Shree Renuka Sugars Ltd and Uttam Sugar Mills Ltd slipped by 9.10%, 5.35% and 6.38%, respectively.
Check out these stocks listed below where price volume breakout can be witnessed in today’s trading session.
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