New Delhi, 21 October (H.S.): lIndian equity markets traded higher in early dealings on Wednesday, with the benchmark Sensex and Nifty opening in positive territory. However, buying and selling pressures emerged shortly after the opening bell, triggering volatility in both indices. Amid continued fluctuations, the Sensex was up 0.42 per cent and the Nifty had gained 0.29 per cent at 10:30 a.m.

The BSE Sensex opened sharply higher, gaining 485.03 points, or 0.66 per cent, to begin the session at 74,337.93. Volatility set in soon after trading commenced. Gains in information technology stocks provided support to the market, although selling in several heavyweight stocks exerted downward pressure on the benchmark.

Amid selling pressure, the Sensex slipped to an intraday low of 74,070.54. It subsequently recovered as buying interest returned, climbing to a high of 74,682.19. At 10:30 a.m., the index was trading at 74,164.76, up 311.86 points, or 0.42 per cent.

The NSE Nifty also opened on a positive note, rising 127.05 points, or 0.55 per cent, to 23,016. Selling pressure immediately after the opening pushed the index down to an intraday low of 22,922.45. However, renewed buying in early trade helped the benchmark regain momentum and advance to a high of 23,120.90.

At 10:30 a.m., the Nifty was trading at 22,955.45, up 66.50 points, or 0.29 per cent, amid continued buying and selling activity.

Market breadth remained negative despite the gains in the benchmark indices. A total of 3,018 stocks were actively traded during the session, of which 790 advanced while 2,228 declined.

Among the 30 constituents of the Sensex, 14 stocks were trading in positive territory, while 16 were in the red. On the Nifty, 26 of the 50 constituent stocks were advancing, compared with 24 that were declining.

At 10:30 a.m., Infosys led the gainers among heavyweight stocks, rising 3.28 per cent. Tech Mahindra advanced 2.24 per cent, Tata Consultancy Services (TCS) gained 2.11 per cent, HCL Technologies climbed 1.99 per cent, and UltraTech Cement rose 1.88 per cent.

On the other hand, Bajaj Finance was the biggest loser among the leading stocks, falling 1.93 per cent. Trent declined 1.16 per cent, Bharat Electronics dropped 1.15 per cent, Maruti Suzuki slipped 1.08 per cent, and InterGlobe Aviation, the operator of IndiGo, fell 1.08 per cent.

In the previous trading session on Monday, the domestic equity market had ended sharply lower. The Sensex plunged 876.37 points, or 1.17 per cent, to close at 73,852.90, while the Nifty shed 257.20 points, or 1.11 per cent, to settle at 22,888.95.

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Hindusthan Samachar / Jun Sarkar