Watch out these positive breakout stocks today

Nifty 50 opened higher on the day of weekly expiry despite mixed global cues. In this article, watch out for these positive breakout stocks on Thursday.

Nifty 50 opened higher on Thursday at 17,772.05 as against its previous close of 17,754.40. This was despite mixed global cues. Key Wall Street indices on Wednesday performed mixed as data suggested that the labour market is likely to remain hot and interest rates to remain elevated for the longer periods.

Global Market

Nasdaq Composite jumped 0.4%, Dow Jones Industrial Average lost 0.18% and S&P 500 gained 0.14% in overnight trade. However, their respective futures were trading in red at the time of writing. Tracking the overnight action of the Wall Street, Asian market indices to were trading mixed. Apart from Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index, all others were trading in red.

Domestic Market   

At 10:20 a.m., Nifty 50 was trading at 17,678.35, down by 76.05 points or 0.43%. Broader market indices, on the other hand, outperformed frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index gained 0.3% and 0.28%, respectively.

Market Statistics 

On BSE, the advance-decline ratio was optimistic with 1827 stocks advancing, 1233 declining and 151 remaining unchanged. On sectoral front, apart from metal, and pharma, all other sectors were trading flat to red.

According to the statistics as on March 8, FIIs were net buyers and DIIs were net sellers. Foreign Institutional Investors (FIIs) bought shares to the tune of Rs 3,671.56 crore. Domestic Institutional Investors (DIIs) sold shares worth Rs 937.8 crore.

Breakout Stocks to Watch Out for Today