New Delhi, August 1 (HS): The domestic stock market is experiencing early trading pressure, with an initial weak start attributed to increased selling. After the market opened, stock prices dipped further under selling pressure, but buyers began to step in to provide support. Despite these purchases, the market continued to trade in negative territory. The Sensex fell by 0.02% and the Nifty by 0.09% after the first hour of trading.Blue-chip stocks have shown mixed results; shares like Hindustan Unilever and Eicher Motors saw gains, while Asian Paints and Kotak Mahindra faced declines. Notably, Sun Pharmaceutical and Cipla began the session weakly, echoing the broader trend of selling after the market opened.
The stock prices of companies like Tata Steel and Dr. Reddy's Laboratories also declined significantly, showing drops between 3.61% to 1.99%. In the market overall, 2,477 stocks were actively traded, with 1,177 stocks in the green and 1,300 in the red. The BSE Sensex opened at 81,074.41 points but soon dropped to 80,892.69 points due to heightened selling pressure. Although buyers briefly attempted to stabilize the market, the trends quickly reverted, leading to fluctuations in the index's performance.The Sensex and Nifty continued to show volatility with ongoing tug-of-war dynamics between buyers and sellers. The Nifty opened at 24,734.90 points, down by 33.45 points and fluctuated throughout the morning, dipping to 24,672.20 points during selling spikes, while also reaching up to 24,759.75 points amid buying efforts. After the initial trading hour, the Nifty settled at 24,746.55 points, registering a decline of 21.80 points.
The last trading day saw the Sensex close at 81,185.58 points, down by 296.28 points or 0.36%, and the Nifty ended at 24,768.35 points, down by 86.70 points or 0.35%. This recent pattern reflects overall sentiment in the market, as fluctuations continue to dominate trading activities driven by mixed buying and selling pressures. Amidst these dynamics, market observers note that buying support exists for select stocks, even as many remain under selling pressure.
The broader market context includes increased volatility with both buying and selling trends shaping investor sentiment and decision-making.Overall, the stock market remains under pressure, indicating that investors are closely monitoring factors influencing both individual stock performances and overall market health. The ongoing back-and-forth between buyers and sellers is expected to determine future trading patterns, underscoring a cautious atmosphere among market participants.
Hindusthan Samachar / Jun Sarkar
