Watch out for these strong breakout stocks today

5paisa Research Team 27th March 2023 - 04:06 pm

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

As compared to its Friday close of 16,945.05, Nifty 50 opened higher on Monday at 16,984.3. This was due to strong global trends. Leading Wall Street indices rose on Friday as fears over Deutsche Bank were alleviated by European Central Bank (ECB) President Christine Lagarde, who stated that eurozone banks are stable and have good capital and liquidity situations.

Global Markets

On Friday, Nasdaq Composite rose 0.31%, Dow Jones Industrial Average increased 0.41%, and S&P 500 surged 0.56%. At the time of writing, their respective futures were trading in the green. On Monday, Asian market indices had a mixed performance. Only two indices were trading higher; Japan’s Nikkei 225 index and Australia’s S&P ASX 200.

Domestic Markets

Nifty 50 was trading at 17,024.5 at 9:50 a.m., up 79.45 points or 0.47%. Frontline indices, on the other hand, outperformed broader market indices. Nifty Mid-Cap 100 index fell 0.18%, while Nifty Small-Cap 100 index dropped 0.86%.

Market Statistics

The advance-decline ratio on the BSE was negative, with 1095 stocks rising, 1851 falling, and 137 staying unchanged. Except for realty, all other sectors were trading flat to positive.

FIIs were net sellers and DIIs were net purchasers as of March 24, according to the statistics. A total of Rs 1,720.44 crore worth of shares were sold by foreign institutional investors (FIIs). Domestic Institutional Investors (DIIs) invested Rs 2,555.53 crore in shares.

Breakout Stocks to watch out for on March 27

Stock Name	CMP (Rs)	Change (%)	Volume
Adani Green Energy Ltd.	1,052.6	2.3	17,26,608
Aurobindo Pharma Ltd.	509.8	1.9	8,46,057
Hindalco Industries Ltd.	394.9	1.7	11,38,819
Jindal Steel & Power Ltd.	539.7	1.0	7,08,094
Gland Pharma Ltd.	1,320.0	3.0	2,74,860

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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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