These stocks are experiencing a strong price volume breakout

5paisa Research Team 23rd February 2023 - 09:42 am

Due to subpar global trends, the Nifty 50 started lower. In this post, we have highlighted the top stocks that are experiencing a strong price volume breakout.

On Wednesday, Nifty 50 began lower at 17,755.35, compared to its previous closing of 17,826.7. This was due to lacklustre global trends. The leading Wall Street indices concluded down on Tuesday, amid mounting fears that the Federal Reserve would keep interest rates higher for an extended period.

Global Markets

In overnight trade, Nasdaq Composite dropped 2.5%, Dow Jones Industrial Average sank 2.06%, and S&P 500 fell 2%. Yet, at the time of writing, their respective futures indices were trading in the green. Asian market indices mainly traded in the red, mirroring the overnight trade on Wall Street. All other indices were trading negatively except Australia's S&P ASX 200 index and Hong Kong’s Hang Seng index.

Domestic Markets

Nifty 50 was trading at 17,671.25 at 10:30 a.m., down 155.45 points or 0.87%. Frontline indices, on the other hand, outperformed broader market indices. Nifty Small-Cap 100 index was down by 0.91%, while Nifty Mid-Cap 100 index fell by 0.87%.

Market Statistics

The advance-decline ratio on the BSE was negative, with 923 stocks rising, 2181 falling, and 140 staying unchanged. Apart from pharma, all other sectors on the sectoral front were trading in the negative.

FIIs were net purchasers, while DIIs were net sellers, according to statistics as of February 21. Foreign Institutional Investors (FIIs) invested Rs 525.8 crore in shares. DIIs (domestic institutional investors) sold shares worth Rs 235.23 crore.

Breakout Stocks to Watch Out for Today

Stock Name	CMP (Rs)	Change (%)	Volume
Voltas Ltd.	916.7	2.3	36,53,055
Uniparts India Ltd.	603.1	4.3	7,92,124
Aurobindo Pharma Ltd.	469.9	2.1	8,47,843
TCNS Clothing Co. Ltd.	483.9	5.0	5,64,413
Hindalco Industries Ltd.	432.2	0.2	16,09,078

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5paisa Research Team

Disclaimer: 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.

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