These stocks are experiencing a strong positive breakout

These stocks are experiencing a strong positive breakout
These stocks are experiencing a strong positive breakout

Indian Market
by 5paisa Research Team Last Updated: 2023-01-09T12:53:44+05:30

Nifty 50 opened higher on the first weekly expiry of 2023 amid strong global cues. In this article, we have listed the top stocks witnessing a strong positive breakout.

Nifty 50 opened higher on Thursday at 18,101.95 as against its previous close of 18,042.95. This was amid strong global cues. On Wednesday, key Wall Street indices ended in green. This was due to the buoyant outcome of Fed’s minutes.

In the FOMC meeting, US Fed confirmed its commitment to curb inflation, however, it will slow down its interest rate hikes moving forward. This step will help limit the risk to economic growth.

Nasdaq Composite ended up 0.69%, Dow Jones Industrial Average jumped 0.4% and S&P 500 climbed 0.75% in an overnight trade snapping two day losing run. On Thursday, Asian market indices surged achieving a four-month high as China’s economy recovers from the Covid pandemic along with the US dollar under pressure.

At 10:50 a.m., Nifty 50 was trading at 17,977.3, down by 65.65 points or 0.36%. Broader market indices were outperforming against the frontline indices. Nifty Mid-Cap 100 index was up 0.11% and Nifty Small-Cap 100 index declined 0.16%.

On BSE, the advance-decline ratio was flat with 1587 stocks advancing, 1709 declining and 16 remaining unchanged. On the sectoral front, financial services, IT and banks suffered the most, while FMCG, automobile and pharma were the top performers.

According to the data as on January 4, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 2,620.89 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 773.58 crore.

The following is the list of stocks witnessing a strong positive breakout.

Stock Name  

CMP (Rs)  

Change (%)  

Volume  

TVS Electronics Ltd.  

378.4  

7.4  

54,55,549  

PNB Housing Finance Ltd.  

571.6  

2.8  

16,80,116  

Marico Ltd.  

520.3  

2.8  

16,58,951  

Surya Roshni Ltd.  

563.8  

3.5  

9,94,820  

Godrej Consumer Products Ltd.  

911.2  

2.5  

12,99,852 


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