Watch out these strong breakout stocks on March 3

Nifty 50 began higher in the final trading session of the week on the back of strong global signals. In this post, watch out for these strong breakout stocks.

On Friday, the Nifty 50 began higher at 17,451.25, up from its previous closing of 17,321.9. This was due to strong global signals. Leading Wall Street indices finished higher on Thursday, as investors expected that the US Federal Reserve to halt aggressive rate hikes.

Global Markets

In overnight trade, Nasdaq Composite rose 0.73%, Dow Jones Industrial Average surged 1.05%, and S&P 500 soared 0.76%. Yet, at the time of writing, their respective futures were trading in the red. Asian market indices were trading in the green, after the overnight action on Wall Street, with Japan's Nikkei 225 index and Hong Kong's Hang Seng index taking the lead.

Domestic Markets 

Nifty 50 was trading at 17,545 at 10:55 a.m., up 223.1 points or 1.29%. Frontline indices, on the other hand, outperformed broader market indices. Nifty Mid-Cap 100 index jumped 0.62% while Nifty Small-Cap 100 index climbed 0.69%.

Market Statistics  

The advance-decline ratio on the BSE was favourable, with 2199 stocks rising, 1004 falling, and 114 staying unchanged. All sectors were trading in green, with banks, metals, and financial services leading the way.

FIIs and DIIs were both net purchasers as of March 3, according to statistics. Foreign Institutional Investors (FIIs) purchased shares worth Rs 12,770.81. Domestic Institutional Investors (DIIs) invested Rs 2,128.80 crore in shares. This is the first time that FIIs have bought heavily in a single day since November 2022.

Breakout Stocks to Watch Out for Today