New Delhi, 08 January (H.S.): Indian equity benchmarks faced downward pressure in early trade on Thursday, with both the Sensex and Nifty opening lower and extending losses as sellers gained dominance.Trading commenced weakly, as buyers initially attempted to drive a buying spree but failed to sustain momentum. Sellers quickly overwhelmed the market, intensifying the decline in both key indices.

After the first hour of trade, around 10:15 AM, the Sensex traded 0.24% lower, while the Nifty slipped 0.33%.Among major stocks, Eternal, Adani Ports, ICICI Bank, SBI Life Insurance, and Bajaj Finance bucked the trend, advancing between 0.43% and 2.08%.

In contrast, Hindalco Industries, TCS, JSW Steel, Wipro, and HDFC Life declined from 1.05% to 2.16%.Of the 2,618 stocks actively traded so far, 1,100 posted gains in green territory, while 1,518 suffered losses in red. In the Sensex's 30 constituents, 12 shares held green on buying support, but 18 traded red under selling pressure.

Similarly, among the Nifty's 50 stocks, 17 remained green, with 33 in red.The BSE Sensex opened at 84,778.02, down 183.12 points. It briefly surged to 84,965.27 within the first five minutes on buying support, but selling ensued, dragging it to a low of 84,678.85.

Buyers staged a partial recovery thereafter, yet after the first hour at 10:15 AM, it traded at 84,755.64, down 205.50 points.The NSE Nifty mirrored this volatility, opening at 26,106.50, down 34.25 points. It climbed to 26,133.20 on initial buying but plunged to 26,049.85 within the first 20 minutes amid sustained selling.

A buying rebound followed, but at 10:15 AM after the first hour, it stood at 26,054.85, down 85.90 points.On the previous trading day, Wednesday, the Sensex had closed at 84,961.14, down 102.20 points or 0.12%. The Nifty ended at 26,140.75, shedding 37.95 points or 0.15%.

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Hindusthan Samachar / Jun Sarkar