These stocks are experiencing a solid price volume breakout; do you own them?
Nifty 50 started lower on the back of negative global trends. In this post, we have highlighted top stocks that are experiencing a solid price volume breakout.
The Nifty 50 began lower at 17,977.65, down from its previous close of 18,127.35. This was due to a lack of global cues. Leading Wall Street indices slumped on Thursday as economic data revealed a solid labour market and faster-than-expected economic growth.
According to weekly unemployment data, 2.16 lakh individuals made initial claims for unemployment benefits last week, 2,000 higher than the previous week. The US Federal Reserve's approach to raise interest rates to combat inflation, as well as the possibility of the US economy entering a recession in 2023, have both put pressure on markets.
In overnight trade, Nasdaq Composite dropped 2.18%, Dow Jones Industrial Average dipped 1.05%, and S&P 500 slid 1.45%. Following the overnight selling pressure on Wall Street, Asian markets began lower on Friday on fears about the US economy entering recession.
Nifty 50 was trading at 17,946.75 at 10:10 a.m., down 180.6 points or 1%. Frontline indices continue to outperform broad market indices. Nifty Mid-Cap 100 index declined 2.3%, while the Nifty Small-Cap 100 index dropped 2.76%.
The advance-decline ratio on the BSE was negative, with 2871 stocks falling, 509 rising, and 91 staying unchanged. Apart from pharma, all other sectors traded in the negative, with PSU banks, metals, media, and automobile losing the most.
FIIs and DIIs were net purchasers on December 22, according to statistics. Foreign Institutional Investors (FIIs) bought Rs 928.63 crore worth of shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 2,206.59 crore.
The following is a list of stocks that have seen a solid price volume breakout.
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