Watch out for these breakout stocks on March 14

Nifty 50 opened flat with positive bias amid mixed global cues. Watch out for breakout stocks on Tuesday.

Nifty 50 opened flat with a positive bias on Tuesday at 17,160.55 as against its previous close of 17,154.3. This was as a result of mixed global cues. Key Wall Street indices ended mixed on Monday as some investors believe that the financial shock amid the Silicon Valley Bank event might lead US Fed to pause interest rate hikes.

Global Markets  

Nasdaq Composite gained 0.45%, Dow Jones Industrial Average lost 0.28% and S&P 500 declined 0.15%, in an overnight trade. However, their respective futures were trading in green at the time of writing. Tracking the overnight action on the Wall Street, Asian market indices too were trading mixed. Apart from Australia’s S&P ASX 200 index, all others were trading in red with Japan’s Nikkei 225 index and South Korea’s KOSPI suffering the most.

Domestic Markets  

At 10:25 a.m., Nifty 50 was trading at 17,096.25, down by 58.05 points or 0.34%. Broader market indices, on the other hand, underperformed frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index dropped 0.77% and 0.96%, respectively.

Market Statistics  

On BSE, the advance-decline ratio was negative with 1031 stocks advancing, 2062 declining and 118 remaining unchanged. On sectoral front, all the sectors were trading in red with PSU banks, IT and realty suffering the most.

According to the data as on March 14, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 1,546.86 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 1,418.58 crore.

Breakout Stocks to Watch Out Today