Watch out for these breakout stocks today

5paisa Research Team 20th March 2023 - 12:47 pm

The Nifty 50 began the new week on a downbeat tone due to poor global signals. In this post, watch out for breakout stocks on Monday.

Nifty 50 began lower on Monday at 17,066.6, compared to Friday's closing of 17,100.05. This was due to lacklustre global cues. Leading Wall Street indices finished substantially down on Friday, as fears of additional bank collapses remained, despite moves to rescue First Republic Bank and Credit Suisse.

Global Markets

On Friday, Nasdaq Composite fell 0.74%, Dow Jones Industrial Average dropped 1.19%, and S&P 500 sank 1.1%. At the time of writing, their individual futures were mostly trading in the red. Except for China's SSE Composite index, Asian market indices were trading negatively, mirroring Wall Street's trend.

Domestic Markets

Nifty 50 was trading at 16,871.85 at 12:25 p.m., down 228.2 points or 1.33%. Frontline indices, on the other hand, outperformed broader market indices. Nifty Mid-Cap 100 index fell 1.64% and Nifty Small-Cap 100 index dipped 1.46%.

Market Statistics

The advance-decline ratio on the BSE was unfavourable, with 955 stocks rising, 2501 falling, and 120 staying unchanged. With metal, media, and PSU banks hurting the most, all sectors were trading in the negative.

FIIs were net sellers, while DIIs were net purchasers, according to statistics as of March 17, 2023. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 1,766.53 crore. Domestic Institutional Investors (DIIs) invested Rs 1,817.14 crore in shares.

Breakout Stocks to Watch Out for Today

Stock Name	CMP (Rs)	Change (%)	Volume
Adani Green Energy Ltd.	833.5	2.1	49,64,374
HDFC Asset Management Company Ltd.	1,688.2	0.6	59,79,435
KPIT Technologies Ltd.	883.5	1.6	38,13,288
Max Healthcare Institute Ltd.	469.9	2.1	25,08,462
Kotak Mahindra Bank Ltd.	1,690.1	-0.2	25,33,475
Caplin Point Laboratories Ltd.	649.0	6.3	6,75,162

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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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