These stocks are experiencing a strong price volume breakout; do you own them?

Although the Nifty 50 opened flat on the day of weekly expiry, it is off lows at the time of writing. In this article, we have listed the top stocks witnessing a strong price volume breakout.

Nifty 50 opened flat on Thursday at 17,574.65 as against its previous close of 17,554.3. This was a result of flat global cues. Key Wall Street indices ended flat on Wednesday as in their most recent FOMC meeting the US Fed officials indicated signs of inflation cooling down, but not enough to slow down the interest rate hikes.

Global Markets

Nasdaq Composite gained 0.13%, Dow Jones Industrial Average declined 0.26% and S&P 500 dropped 0.16% in overnight trade. However, their respective futures were trading in green at the time of writing. Tracking the global cues, Asian market indices were mostly trading lower with an exception of South Korea’s KOSPI which was trading in green. 

Domestic Markets

At 12:30 p.m., Nifty 50 was trading at 17,550.1, down by 4.2 points or 0.02%. Broader market indices, on the other hand, underperformed frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index plummeted by 0.39% and 0.1%, respectively.

Market Statistics

On BSE, the advance-decline ratio was unfavourable with 1542 stocks advancing, 1762 declining and 150 remaining unchanged. On the sectoral front, apart from FMCG, metal, and IT, all other sectors were trading flat to negative.

According to the data as on February 22, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 579.82 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 371.56 crore.

Breakout Stocks to Watch Out for Today