Watch out for these strong breakout stocks to trade today

Watch out for these strong breakout stocks to trade today

by 5paisa Research Team Last Updated: Apr 03, 2023 - 11:29 am 889 Views
Listen icon

On the first trading day of the month, the Nifty 50 opened higher on the back of strong global signals. In this post, watch out for strong breakout stocks to trade on Monday. 

In comparison to its Friday closing of 17,359.75, Nifty 50 began higher on Monday at 17,427.95. This was due to strong global signals. The leading Wall Street indices finished higher on Friday, as the US Fed's favoured inflation indicator indicated a lower-than-expected rise in prices.

Global Markets 

Without accounting for energy and food expenses, the core Personal Consumption Expenditures index increased by 0.3% in February. Compared to what economists had predicted (0.4%), this was lower. This most likely signifies that the US Federal Reserve will pause its rate rises.

 On Friday, Nasdaq Composite increased by 1.74%, Dow Jones Industrial Average up by 1.26%, and S&P 500 rose by 1.44%. Yet, at the time of writing, their respective futures were trading lower. On Monday, Asian market indices were trading mixed. All indices were trading in the green, except for Hong Kong's Hang Seng index and South Korea's KOSPI.

Domestic Markets

Nifty 50 was trading at 17,339.25 at 10:50 a.m., down 20.5 points or 0.12%. Frontline indices, on the other hand, underperformed broader market indices. Nifty Mid-Cap 100 index rose 0.23% and Nifty Small-Cap 100 index climbed 0.93%, respectively.

Market Statistics

The advance-decline ratio on the BSE was favourable, with 2467 stocks rising, 785 falling, and 152 staying unchanged. Except for IT, FMCG, pharma, and metal, all other sectors were trading flat to positive.

According to statistics as of March 31, both FIIs and DIIs were net purchasers. Foreign Institutional Investors (FIIs) invested Rs 357.86 crore in shares. Domestic Institutional Investors (DIIs) purchased shares worth Rs 2,479.96 crore.

Breakout Stocks to Watch Out for on Monday 

Stock Name  

CMP (Rs)  

Change (%)  


Sonata Software Ltd.  




PNB Housing Finance Ltd.  




BSE Ltd.  




Glenmark Pharmaceuticals Ltd.  




HDFC Bank Ltd.  





Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Marinetrans India IPO lists 15.38% higher and hits upper circuit

Premium listing for Marinetrans India IPO, then upper circuit

Net Avenue Technologies IPO lists 133.33% up but later hits -5% circuit

Strong listing for Net Avenue Technologies IPO, then lower circuit

What you must know about India Shelter Finance IPO?

India Shelter Finance Corporation Ltd was incorporated in 1998 and offers small and mid-ticket home loans. These loans are typically in the size of ₹5 lakhs to ₹50 lakhs. It provides home loans for construction, purchase, extension and also for renovation.