New Delhi, 22 October (H.S.): The domestic equity market remained under pressure during early trading on Thursday, with both benchmark indices opening in the red and extending their losses amid widespread selling. Heavy selling pressure after the opening bell weighed on the Sensex and the Nifty, which were trading 0.50 per cent and 0.63 per cent lower, respectively, after the first hour of trading.
The BSE Sensex opened at 73,343.33, down 366.36 points, or 0.50 per cent. Selling pressure intensified soon after the market opened, keeping the index on a downward trajectory. Modest gains in a handful of information technology and heavyweight stocks provided limited support, but broad-based selling across sectors continued to weigh on the benchmark. As selling persisted, the Sensex slipped to an intraday low of 73,005.11.
The index subsequently recovered some ground as buying emerged, climbing to an intraday high of 73,423. However, the recovery proved short-lived, with renewed selling pushing the benchmark lower once again. Amid continued buying and selling, the Sensex was trading at 73,341.76 at 10:15 a.m., down 367.93 points, or 0.50 per cent.
Similarly, the NSE Nifty began the session at 22,687.75, declining 123.60 points, or 0.54 per cent. Selling pressure intensified immediately after the opening bell, dragging the index to an intraday low of 22,554.85. However, some buying activity during the initial trading session helped the Nifty recover to a high of 22,697.55.
The recovery failed to sustain momentum, as selling pressure returned shortly afterwards and deepened the index's losses. At 10:15 a.m., following the first hour of trading, the Nifty was quoted at 22,662.65, down 148.70 points, or 0.63 per cent.
Market breadth remained firmly negative during the session. A total of 2,931 stocks were actively traded, of which 645 were trading in positive territory, while 2,286 were in the red. Among the 30 constituents of the Sensex, only three were trading with gains, while 27 were registering losses. Similarly, of the 50 Nifty constituents, three were trading higher and 47 were trading lower.
Among the major stocks, Bharti Airtel gained 0.80 per cent, Eternal rose 0.53 per cent and Infosys advanced 0.31 per cent, placing them among the leading gainers after the first hour of trading.
On the other hand, Nestle India fell 2.66 per cent, SBI Life Insurance declined 2.41 per cent, Power Grid Corporation dropped 2.36 per cent, Hindalco Industries lost 2.18 per cent and Coal India slipped 2.15 per cent, emerging as the leading laggards.
In the previous trading session on Wednesday, the Sensex had closed at 73,709.69, down 143.21 points, or 0.19 per cent. The Nifty had also ended lower, shedding 77.60 points, or 0.34 per cent, to settle at 22,811.35.
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Hindusthan Samachar / Jun Sarkar
