Check out these stocks that are witnessing a strong price volume breakout today

Nifty 50 opened flat with a negative bias on Tuesday despite strong global cues. In this article, check out the top stocks that are witnessing a strong price volume breakout on February 28.

On the last trading session of February month, Nifty 50 opened flat with a negative bias at 17,383.25 as against its previous closing of 17,392.7. This was despite strong global cues. Key Wall Street indices on Monday ended higher despite concerns over US Fed’s interest rate hike spree to tame inflation.

Global Markets 

So far in February 2023, Nasdaq Composite, S&P 500 and Dow Jones Industrial Average registered losses of 1.01%, 2.31% and 3.51%, respectively. However, on Monday, these indices ended in the green. Also, their respective futures were trading in green at the time of writing.

Tracking Wall Street’s overnight action, prominent Asian market indices were trading higher with South Korea’s KOSPI and Hong Kong’s Hang Seng index leading the way.

Domestic Markets 

At 10:15 a.m., Nifty 50 was trading at 17,377.3, down by 15.4 points or 0.09%. Broader market indices, on the other hand, outperformed frontline indices. Nifty Mid-Cap 100 index and Nifty Small-Cap 100 index jumped 0.36% and 0.38%, respectively.

Market Statistics 

On BSE, the advance-decline ratio was optimistic with 1735 stocks advancing, 1266 declining and 164 remaining unchanged. On the sectoral front, apart from FMCG, metals, pharma and banks, all other sectors were trading flat to positive.

According to the data as on February 27, FIIs were net sellers and DIIs were net buyers. Foreign Institutional Investors (FIIs) sold shares to the tune of Rs 2,022.52 crore. Domestic Institutional Investors (DIIs) bought shares worth Rs 2,231.66 crore. So far on a month-till-date basis, FIIs sold shares worth Rs 6,531.43 crore, while DIIs bought shares worth Rs 14,629.41 crore.

Breakout Stocks to Watch Out for on February 28