Watch out these strong breakout stocks today

5paisa Research Team 2nd March 2023 - 10:48 am

Nifty 50 opened lower amid weak global cues. In this article, watch out for stocks experiencing a strong breakout on March 2.

Nifty 50 opened lower on the weekly expiry trading session at 17,421.5.1 as against its yesterday’s close of 17,450.9. This was amid weak global cues. Key Wall Street indices on Wednesday traded mostly lower amid stronger-than-expected manufacturing data on Wednesday and investors weighing on the signs of persistent inflation.

Global Markets

Nasdaq Composite tanked 0.66%, Dow Jones Industrial Average jumped 0.02%, and S&P 500 declined 0.47%, in an overnight trade. Their respective futures were trading mixed at the time of writing with Dow futures trading in green and Nasdaq and S&P 500 futures trading in red. Asian market indices mostly traded lower tracking the weak global cues. Apart from China’s SSE Composite index and South Korea’s KOSPI, all others were trading in green.

Domestic Markets

At 10:30 a.m., Nifty 50 was trading at 17,368.15, down by 82.75 points or 0.47%. Broader market indices, on the other hand, outperformed frontline indices. Nifty Mid-Cap 100 index down 0.03% and Nifty Small-Cap 100 index ascended 0.11%.

Market Statistics

On BSE, the advance-decline ratio was positive with 1680 stocks advancing, 1378 declining and 146 remaining unchanged. On sectoral front, apart from realty, metals and PSU banks, all other sectors were trading flat to red.

According to the data as on March 1, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 424.88 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 1,498.66 crore.

Breakout Stocks to Watch Out for on Thursday

Stock Name	CMP (Rs)	Change (%)	Volume
Adani Enterprises Ltd.	1,605.5	2.6	1,28,96,421
Olectra Greentech Ltd.	534.0	7.6	11,83,909
Quess Corp Ltd.	369.0	6.1	12,20,754
Adani Total Gas Ltd.	737.3	3.6	18,57,224
Adani Ports and Special Economic Zone Ltd.	610.6	1.4	67,11,156

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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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