Checkout the list of strong breakout stocks to watch out for today

Nifty 50 started higher on the back of strong global signals. In this article, we have listed the strong breakout stocks to watch out for as on February 24.

Nifty 50 entered the week's last trading session in the green at 17,591.35, up from its previous closing of 17,511.25. This was due to strong global trends. Although leading Wall Street indices finished higher, investors remain concerned about the impact of interest rate policy on the US economy.

Unemployment benefits claims fell sharply last week, according to figures released on Thursday. Despite growing inventory levels being the primary driver, the US GDP rose at a 2.7% annual rate in the fourth quarter.

Global Markets

In overnight trade, Nasdaq Composite soared 0.72%, Dow Jones Industrial Average gained 0.33%, and S&P 500 surged 0.53%. Yet, at the time of writing, their respective futures were trading in the negative. Asian market indices were mainly trading lower, tracking the futures of prominent Wall Street indices. All indices were trading in the red, except for Australia's ASX 200 and Japan's Nikkei 225 index.

Domestic Markets

Nifty 50 was trading at 17,543.25 at 10:00 a.m., up 32 points or 0.18%. As compared to indices representing the broader market, frontline indices performed mixed. Nifty Mid-Cap 100 index jumped 0.17% and Nifty Small-Cap 100 index ascended 0.29%.

Market Statistics

On the BSE, the advance-decline ratio was positive, with 1848 stocks rising, 1046 falling, and 131 staying unchanged. Except for the metals, media, and automobile, all other sectors were trading in the green.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of February 23. Foreign Institutional Investors (FIIs) sold shares worth Rs 1,417.24 crore. Domestic Institutional Investors (DIIs) invested Rs 1,586.06 crore in shares.

Breakout Stocks to Watch Out for on Friday