These stocks are experiencing a positive price volume breakout

5paisa Research Team

Last Updated: 20th December 2022 - 10:51 am

Nifty 50 opened lower amid weak global cues. In this article, we would be looking at stocks with a positive price volume breakout despite gloomy cues.

Nifty 50 opened lower at 18,340.3 levels as against its previous close of 18,420.45. This was because of weak global cues. On Monday, key Wall Street indices extended their losing streak for the fourth straight session. This was amid investors preferring to avoid riskier bets as the US Fed’s stance continues its aggressive approach mounting the fears recession.

Nasdaq Composite declined 1.49%, Dow Jones Industrial Average dipped 0.49% and S&P 500 sank 0.9% in overnight trade. On Tuesday, Asian counterparts traded down tracking the weak overnight cues from Wall Street.

At 10:25 a.m., Nifty 50 was trading at 18,233.95, down by 186.5 points or 1.01%. Although southwards, broader market indices are outperforming frontline indices. Nifty Mid-Cap 100 index was down 0.83% and Nifty Small-Cap 100 index declined 0.73%.

On BSE, the advance-decline ratio was grim with 1858 stocks declining, 1348 advancing and 142 remaining unchanged. On sectoral front, all the sectors traded in red with sectors like metals, PSU banks and realty suffered the most.

According to the data as on December 19, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 538.1 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 687.38 crore.

Following is the list of stocks witnessing price volume breakout.

Stock Name	Current Market Price (Rs)	Change (%)	Volume
JK Paper Ltd.	442.6	4.1	26,40,598
Life Insurance Corporation of India	740.0	0.7	44,70,473
Axis Bank Ltd.	948.3	0.2	27,72,827
JBM Auto Ltd.	473.6	5.3	6,77,660
AU Small Finance Bank	681.9	1.7	7,36,141
Dreamfolks Services Ltd.	427.5	5.0	5,56,147
State Bank of India	602.4	-0.3	19,20,231

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