These stocks are experiencing price volume breakout; do you hold them?

These stocks are experiencing price volume breakout; do you hold them?

Indian Market
by 5paisa Research Team Last Updated: 2023-01-02T13:24:10+05:30

Nifty 50 opened flat on the first trading session of the new year. This was despite Wall Street's dismal closing on Friday. In this post, we have highlighted the top stocks that are experiencing a price volume breakout. 

Nifty 50 began flat on the first trading day of 2023 at 18,131.7, compared to a closing of 18,105.3 on Friday. This can be attributable to the world markets' subdued performance. On Friday, leading Wall Street indices concluded flatly with a bearish tilt. Nasdaq Composite fell 0.11%, Dow Jones Industrial Average declined 0.22%, and S&P 500 dropped 0.25%. Their respective futures were likewise trading flat at the time of writing.

Nifty 50 was trading at 18,175.75 at 1:10 p.m., up 70.45 points or 0.39%. Broader market indices outpaced frontline indices. Nifty Mid-Cap 100 index was up 0.7%, while Nifty Small-Cap 100 index was up 0.55%.

The advance-decline ratio on the BSE was encouraging, with 2257 stocks rising, 1275 falling, and 180 staying unchanged. Aside from pharma and FMCG, all other sectors traded in green with metals, media, and realty topping the charts.

According to December 30 statistics, FIIs were net sellers while DIIs were net purchasers. Foreign Institutional Investors (FIIs) sold Rs 2,950.89 crore worth of shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 2,266.2 crore. FIIs sold shares worth Rs 14,231.09 crore in December 2022, while DIIs invested Rs 24,159.13 crore in shares.

FIIs were net sellers of shares worth Rs 2.78 lakh crore in the year 2022, while DIIs were net purchasers of shares worth Rs 2.76 lakh crore. Surprisingly, FIIs were net purchasers only in August and November 2022, whereas DIIs were net sellers over the same period.

The following is a list of stocks that have seen a price volume breakout.

Stock Name  

CMP (Rs)  

Change (%)  

Volume  

BF Utilities Ltd.  

423.5  

9.6  

17,75,495  

Hindalco Industries Ltd.  

487.7  

3.0  

74,00,482  

Jindal Steel & Power Ltd.  

597.8  

3.0  

47,31,349  

Godawari Power and Ispat Ltd.  

404.4  

8.4  

12,60,139  

Tata Motors Ltd.  

394.6  

1.7  

73,73,274 


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