Mumbai. The domestic stock market started on a positive note on Friday. Both the BSE Sensex and the NSE Nifty opened with gains in early trade. However, selling pressure was seen in the IT and FMCG sectors, while buying in auto, pharma, finance and media stocks strengthened the market. The 30-share BSE Sensex opened with a gain of 70.51 points at 77,998.66. After initial fluctuations, the Sensex was trading at 77,938.46, up 10.31 points (0.01%) at the time of writing this news. Meanwhile, the Nifty 50 opened at 24,361.45, up 44.30 points. During trading, it gained 20.45 points (0.08%) to reach 24,337.60 at the time of writing this news.
Pressure on IT and FMCG sectors
In early trade, selling pressure remained in the IT and FMCG sectors. The Nifty IT index, in particular, fell nearly 2%. On the other hand, buying was seen in auto, financial services, media, pharmaceutical, healthcare, and chemical stocks.
These stocks saw the biggest rise
Among Sensex companies, shares of Bajaj Finance jumped nearly 6.5%, while Bajaj Finserv gained nearly 4.5%. Mahindra & Mahindra (M&M) rose nearly 2.5%, and Bharat Electronics (BEL) gained more than 1%. Shares of Sun Pharma, Maruti Suzuki, and Indigo also traded higher.
These stocks fell
The IT sector was clearly under pressure. Shares of TCS and Infosys fell by around 2.5%. Shares of HCL Tech, Tech Mahindra, ITC, HDFC Bank, PowerGrid, and Eternal also traded in the red.