Watch out for these breakout stocks today

Despite Wall Street concluding in the green, the Nifty 50 began flat on the final trading day of the week. In this post, watch out for breakout stocks as of Friday.  

On Friday, Nifty 50 began flat at 17,076.2, compared to its previous closing of 17,076.9. Despite favourable global cues, this occurred. On Thursday, leading Wall Street indices finished higher as investors assessed the likely direction of interest rates following the US Fed's 25 basis point (100 basis points = 1%) rise.

Global Markets 

In overnight trade, Nasdaq Composite surged 1.01%, Dow Jones Industrial Average rose 0.23%, and S&P 500 increased 0.3%. At the time of writing, their respective futures were trading flat to positive. Despite the overnight gains on Wall Street, Asian market indices were largely trading down on Friday. Except for Australia's S&P ASX 200 index, all others were trading negatively. 

Domestic Markets   

Nifty 50 was trading at 17,030.15 at 10:35 a.m., down 46.75 points or 0.27%. In comparison to frontline indices, broader market indices are underperforming. The Nifty Mid-Cap 100 index fell 0.71% and the Nifty Small-Cap 100 index dropped 0.64%, respectively.

Market Statistics   

The advance-decline ratio on the BSE was negative, with 1208 stocks rising, 1895 falling, and 124 staying unchanged. Except for IT, all other sectors were trading flat to negative. 

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of March 23. Foreign Institutional Investors (FIIs) sold Rs 995.01 crore in shares. Domestic Institutional Investors (DIIs) invested Rs 1,668.85 crore in shares.

Breakout Stocks to Watch Out for Today