Watch out for these positive breakout stocks today

Nifty 50 began higher on the first trading day of the new week, supported by strong global trends. In this post, watch out for positive breakout stocks on Monday. 

Nifty 50 began higher on Monday at 17,680.35 after closing at 17,594.35 on Friday. This was due to strong global signals. The leading Wall Street indices finished higher on Friday as the 10-year bond yield fell below 4%, while all three indices finished the week higher. The 10-year yield settled at 3.96%, down from 4.08% on Thursday.

Global Markets   

In overnight trade, Nasdaq Composite increased by 1.97%, Dow Jones Industrial Average up by 1.17%, and S&P 500 jumped by 1.61%. Dow Jones Industrial Average advanced 1.7% on a weekly basis, snapping a four-week losing streak. 500 added 1.9%, while Nasdaq Composite gained 2.6%.

Furthermore, at the time of writing, their respective futures were trading in the green. On Monday, Asian market indices were trading mixed. Except for Australia’s S&P ASX 200 index and China’s SSE Composite index, all other indices were trading in the green.

Domestic Markets   

Nifty 50 was trading at 17,779.05 at 10:35 a.m., up 184.7 points or 1.05%. Frontline indices, on the other hand, performed mixed compared to broader market indices. Nifty Mid-Cap 100 index ascended 1.01% and Nifty Small-Cap 100 index soared 1.48%.

Market Statistics

The advance-decline ratio on the BSE was strong, with 2341 stocks rising, 915 falling, and 182 staying unchanged. All sectors were trading in the green, with metal, IT, and PSU banks taking the lead.

Both FIIs and DIIs were net purchasers, according to statistics as of March 3. Foreign Institutional Investors (FIIs) purchased shares worth Rs 246.24 crore in shares. Domestic Institutional Investors (DIIs) invested Rs 2,089.92 crore in shares.

Breakout Stocks to Watch Out for Today