Delhi, 7 November (H.S.): The domestic stock market faced significant selling pressure during early trading on Friday, extending a weak start to the session. Shortly after the opening bell, a wave of selling pushed both the Sensex and Nifty indices lower. While buyers made intermittent attempts to stage a recovery, leading to some volatility, the market continued to trade firmly in negative territory.
By 10 AM, the Sensex was trading down 0.67%, and the Nifty had fallen by 0.66%.Among the major large-cap stocks, shares of ICICI Bank, Sun Pharmaceuticals, ITC, Power Grid Corporation, and SBI Life Insurance managed to post gains ranging from 0.16% to 0.79%. On the other hand, shares of TCS, Tech Mahindra, Jio Financial, NTPC, and State Bank of India were among the top laggards, declining between 1.20% and 1.46%.
Market breadth was weak, with 2,178 stocks actively traded. Of these, only 671 were advancing, while 1,507 stocks were declining. On the Sensex, just 5 of the 30 constituent stocks were in the green, while 25 traded lower. Similarly, on the Nifty 50 index, 7 stocks advanced against 43 decliners.The BSE Sensex opened the day at 83,150.15, down 160.86 points. Immediate selling pressure dragged the index below the 83,000 mark to an intraday low of 82,670.95.
A brief recovery attempt followed but failed to sustain momentum. By 10 AM, the Sensex was trading at 82,751.75, down 559.26 points.Mirroring this trend, the NSE Nifty began the session at 25,433.80, a fall of 75.90 points. It hit a low of 25,318.45 within the first 20 minutes of trading.
After a minor pullback, the Nifty was trading at 25,341.90, a loss of 167.80 points, around 10 AM.In the previous session on Thursday, the Sensex had closed at 83,311.01, down 148.14 points (0.18%), while the Nifty ended at 25,509.70, falling 87.95 points (0.34%).
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Hindusthan Samachar / Jun Sarkar
