Watch out for these breakout stocks today

Nifty 50 began the week's last trading session down due to negative global trends. In this post, watch out for stocks giving a breakout on Friday.

Nifty 50 index began down on Friday at 17,443.8, compared to its previous closing of 17,589.6. This was a result of weak global signals. The weekly jobless claims statistics showed a healthy labour market, sending leading Wall Street indices significantly down on Thursday. This implies that interest rates are likely to continue rising.

Global Markets

In overnight trade, Nasdaq Composite plummeted 2.05%, Dow Jones Industrial Average fell 1.66%, and S&P 500 dropped 1.85%. At the time of writing, their respective futures were trading in the red. After Wall Street's overnight action, Asian market indices were trading down, with Hong Kong's Hang Seng index and Japan's Nikkei 225 index losing the most.

Domestic Markets

Nifty 50 was trading at 17,409 at 10:50 a.m., down 180.6 points or 1.03%. Frontline indices, on the other hand, underperformed broader market indices. Nifty Mid-Cap 100 index fell 0.76% and Nifty Small-Cap 100 index declined 0.59%.

Market Statistics

The advance-decline ratio on the BSE was unfavourable, with 1243 stocks rising, 1893 falling, and 128 staying unchanged. Apart from FMCG, all the sectors were trading in the negative.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of March 9. Foreign Institutional Investors (FIIs) sold Rs 561.78 crore worth of shares. Domestic Institutional Investors (DIIs) invested Rs 42.41 crore in shares.

Breakout Stocks to Watch Out for on Friday