Nifty 50 opens on a buoyant note; check out these powerful stocks for December 5

Nifty 50 opens on a buoyant note; check out these powerful stocks for December 5

Indian Market
by 5paisa Research Team Last Updated: 2022-12-12T07:18:24+05:30

As indicated by SGX Nifty, Nifty 50 opened higher. In this article, we have listed the top stock witnessing price volume breakout. 

On Friday, Nifty 50 ended the session lower by 0.62% at 18,812.5. However, SGX Nifty suggested a buoyant opening of the market. Although the markets opened higher, at 9:30 a.m., Nifty 50 was trading at 18,663.75, down by 32.35 or 0.17%. Said that, Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index is outperforming the frontline indices as they trade in the green. 

Key Wall Street indices on Friday ended flat. Nasdaq Composite concluded down by 0.18%, Dow Jones gained 0.1% and S&P 500 lost 0.12%. This was a result of investors digesting the higher-than-expected labour data and the upcoming US Fed meeting. The nonfarm payrolls ascended by 2.63 lakh last month and the unemployment rate was unchanged at 3.7%. 

Moreover, the Caixin or the S&P Global services Purchasing Managers' Index for November showcased the lowest reading of 46.7 in last six months. In addition, this was the third successive month of contraction in output and new work. The September’s and October's readings came in at 49.3 and 48.4, respectively. 

The Asian peers, on the other hand, are trading higher on Monday. This was amid China cooling off the testing rules for COVID-19 in some cities. This in turn is indicating more restrictions to ease further.

According to the data as on December 2, FIIs and DIIs, both were net buyers. Foreign Institutional Investors (FIIs) bought shares worth Rs 214.76 crore. Domestic Institutional Investors (DIIs) invested Rs 712.34 crore in shares.

The following is the list of strong stocks witnessing price volume breakout. 

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

SJVN Ltd. 

41.9 

6.8 

26,55,942 

Manappuram Finance Ltd. 

122.2 

2.4 

5,16,189 

JM Financial Ltd. 

81.25 

2.1 

3,83,553 

National Aluminium Company Ltd. 

79.2 

1.5 

6,07,393 

Hindalco Industries Ltd. 

470.55 

2.1 

2,57,794 

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