Watch out for breakout stocks on March 13

During the first trading session of the new week, the Nifty 50 began flat with an upward bias. Watch out for breakout stocks on Monday in this post.

On Monday, Nifty 50 began flat with an optimistic bias at 17,421.9, compared to its Friday closing of 17,412.9. This was despite weak global trends. On Friday, leading Wall Street indices closed down on concerns about the financial system's health and the February employment data, which showed companies adding more positions than projected.

Global Markets

On Friday, Nasdaq Composite fell 1.76%, Dow Jones Industrial Average dipped 1.07% and S&P 500 plunged 1.45%. Nonetheless, at the time of writing, their respective futures were trading in the green. Following suit, Asian market indices largely traded higher. Except for Japan's Nikkei 225, all other indices were trading in the green.

Domestic Markets

Nifty 50 was trading at 17,460.25 at 10:05 a.m., up 47.35 points or 0.27%. Frontline indices were outperforming broader market indices. Nifty Mid-Cap 100 index fell 0.8% and Nifty Small-Cap 100 index lost 0.89%.

Market Statistics

The advance-decline ratio on the BSE was negative, with 1067 stocks rising, 1963 dropping and 151 staying unchanged. With the exception of the metal, IT, financial services and banking sector, all other sectors were trading negative.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of March 10. Foreign Institutional Investors (FIIs) sold shares worth Rs 2,061.47 crore. Domestic Institutional Investors (DIIs) invested Rs 1,350.13 crore in shares.

Breakout Stocks to Watch Out Today