Watch out for these solid breakout stocks today

Nifty 50 opened in the green despite mixed global cues. In this article, watch out for solid breakout stocks as of Tuesday.

Nifty 50 opened higher on Tuesday at 17,031.75 as against its previous close of 16,985.7. This was despite mixed global cues. Key Wall Street indices ended mixed. Shares of regional banks ascended on the acquisition of the stressed Silicon Valley Bank by the First Citizen Bank. Furthermore, the US authorities are considering expanding an emergency lending program for banks according to news reports leading the US 10-year bond yield to rise from 3.4% to 3.51%. 

Global Markets

Nasdaq Composite tumbled 0.47%, Dow Jones Industrial Average rallied 0.6%, and S&P 500 gained 0.16%, in overnight trade. However, their respective indices were trading higher at the time of writing. Asian market indices on Tuesday were trading mostly higher on Tuesday with Hong Kong’s Hang Seng index and Australia’s S&P ASX 200 index leading the way.

Domestic Markets 

At 9:40 a.m., Nifty 50 was trading at 16,999.55, up by 13.85 points or 0.08%. Broader market indices, on the other hand, were underperforming frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index dropped 0.37% and 0.24%, respectively.

Market Statistics

On BSE, the advance-decline ratio was negative with 1252 stocks advancing, 1518 declining and 106 remaining unchanged. On the sectoral front, apart from realty and financial services, all the other sectors were trading flat to red.

According to the data as on March 27, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 890.64 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 1,808.94 crore.

Breakout Stocks to Watch Out for Today