A powerful breakout is seen in these stocks; do you own them?

resr 5paisa Research Team

Last Updated: 31st October 2022 - 02:09 pm

Listen icon

On the last trading day of the month, Nifty 50 opened higher, with a gap-up opening. In this post, we have highlighted the top stocks that are experiencing a powerful breakout.

On Monday, the Nifty 50 began higher at 17,910.2, with a gap-up opening. This was due to strong global cues. Leading Wall Street indices rallied on Friday as a result of positive economic data and an upbeat earnings outlook. In addition, the Fed's policy meeting is scheduled for this week.

In overnight trade, Nasdaq Composite gained 2.87%, while S&P 500 increased 2.46%. On a weekly basis, these two indices gained for the second week in a row. Dow Jones soared 2.59%, marking its greatest weekly rise since May. Asian indices climbed on Monday, ahead of several central banks' interest rate decisions this week.

In October 2022, China's industrial activity unexpectedly declined. The Purchasing Manager's Index (PMI) fell short of expectations owing to interruptions caused by a fresh Covid-induced lockdown and a decline in global demand for exports.

Nifty 50 was trading at 17,967.8 at 11:50 a.m., up 181 points or 1.02%. Frontline indices outscored market indexes overall. Nifty Mid-Cap 100 index was up 0.84%, while Nifty Small-Cap 100 index was down 0.06%.

Oil dropped amid fears that China's Covid restrictions might reduce demand. Brent crude was down 0.53% to USD 93.25 per barrel, while WTI Futures declined to USD 87.6 per barrel. Natural gas futures, on the other hand, ascended by 4%.

The following is a list of top stocks that are experiencing a powerful breakout.

Stock Name 

CMP (Rs) 

Change (%) 

Volume 

Mahindra & Mahindra Ltd. 

1,347.0 

2.7 

21,24,896 

Sun Pharmaceuticals Industries Ltd. 

1,019.3 

3.0 

16,89,594 

Life Insurance Corporation of India 

606.7 

2.4 

19,17,901 

Max Healthcare Institute Ltd. 

446.1 

3.7 

14,02,351 

Container Corporation of India Ltd. 

806.2 

2.6 

15,26,770 

Bharti Airtel Ltd. 

830.2 

1.6 

26,09,297 

 

 

How do you rate this article?
Characters remaining (1500)

FREE Trading & Demat Account
+91
''
By proceeding, you agree to our T&Cs*
Mobile No. belongs to
hero_form

Indian Stock Market Related Articles

Top Growth Stocks Trading at a Discount

by 5paisa Research Team 4th Nov 2024

Best Gold ETFs in India

by 5paisa Research Team 4th Nov 2024

Best Corporate Bonds in India

by 5paisa Research Team 4th Nov 2024

Top 10 Best Government Bonds in India

by 5paisa Research Team 4th Nov 2024

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.

Want to Use 5paisa
Trading App?