New Delhi: The domestic stock market traded mixed in the early hours of today, after opening on a strong note.
However, as soon as the market opened, selling pressure built up, which led to a decline in the movement of both Sensex and Nifty indices.
However, both indices began to recover after the first 20 minutes of trading as buying began. After the first hour of trading, the Sensex was trading 0.46 percent higher and the Nifty was trading 0.02 percent higher.
Due to strong global signals and fall in crude oil prices, BSE Sensex opened today with a gain of 626.43 points i.e. 0.80 percent at 79,055.38 points.
As soon as the market opened, due to selling pressure, within the first 20 minutes itself, the index fell by more than 300 points from the opening level to the level of 78,745.61 points.
After this, buyers started buying pressure, due to which a slight improvement was seen in the movement of this index.
After the first hour of trading amid continuous buying and selling in the market, at 10:15 am, the Sensex was trading at 78,788.26 points with a gain of 359.31 points.
Like the Sensex, the NSE Nifty jumped 54.30 points, or 0.22 percent, to open trading at 24,669.20. Selling pressure soon followed, pushing the index into the red at 24,581.55.
Subsequently, buyers intensified their buying pressure, leading to a slight improvement in the index’s movement. After an initial hour of trading amid continued buying and selling, the Nifty was trading at 24,618.65 at 10:15 a.m., with a symbolic gain of 3.75 points.
So far, 2,774 stocks were actively trading on the stock market. Of these, 1,979 stocks were trading in the green with gains, while 795 were trading in the red with losses.
Similarly, 24 of the 30 Sensex stocks were trading in the green with buying support. Meanwhile, six stocks were trading in the red under selling pressure. Of the 50 Nifty stocks, 22 were trading in the green and 28 in the red.
After the first hour of trading, shares of stock market giants Larsen & Toubro, Inter Globe Aviation, HDFC Life, Shriram Finance and NTPC were trading with gains ranging from 1.90 per cent to 1.19 per cent.
On the other hand, Apollo Hospitals, Sun Pharmaceuticals, TCS, SBI Life Insurance and HCL Technologies were trading lower by 2.16 per cent to 1.01 per cent.
On Tuesday, the previous trading day, the Sensex had closed at 78,428.95, down 210.08 points, or 0.27 percent. The Nifty had ended Tuesday’s trading at 24,614.90, down 159.40 points, or 0.64 percent.