New Delhi, May 27 (H.S.): The domestic stock market remained under pressure amid volatile trading during the early session on Wednesday. Trading had opened on a weak note, but buying activity immediately after the opening helped both the Sensex and Nifty recover and briefly enter positive territory. However, renewed selling pressure dragged both benchmark indices back into the red. By 10 a.m., the Sensex was trading 0.23 percent lower, while the Nifty was down 0.16 percent.

Among the major gainers on the stock market by 10 a.m. were Hindalco Industries, NTPC, Power Grid Corporation, Eternal and Dr. Reddy’s Laboratories, which were trading higher by 3.72 percent to 0.91 percent. On the other hand, Coal India, ONGC, ITC, HDFC Bank and HDFC Life were trading lower by 4.06 percent to 0.76 percent.

So far during the session, active trading was witnessed in 2,686 stocks on the market. Of these, 1,690 shares were trading in the green with gains, while 996 shares were trading in the red with losses. Similarly, among the 30 stocks listed on the Sensex, 15 were trading with gains due to buying support, while the remaining 15 were under selling pressure. Likewise, among the 50 stocks on the Nifty, 25 shares were trading in positive territory and 25 in negative territory.

The BSE Sensex opened 69.84 points lower at 75,939.86 points. Soon after trading began, buying support pushed the index sharply higher into positive territory, where it touched 76,137.53 points. Thereafter, renewed selling pressure dragged the Sensex back into the red. However, buyers once again stepped in after the first 15 minutes of trading, leading to some recovery in the index. Amid continuous buying and selling activity, by 10 a.m. the Sensex was trading 177.14 points lower at 75,832.56 points.

Similarly, the NSE Nifty opened 33.35 points lower at 23,880.35 points. Supported by buying soon after the opening bell, the index recovered and climbed to 23,950.15 points in positive territory within a short span. However, fresh selling pressure once again pulled the index lower. Amid continued volatility, by 10 a.m. the Nifty was trading down by 39.20 points at 23,874.50 points.

During the previous trading session on Tuesday, the Sensex had closed lower by 479.26 points, or 0.63 percent, at 76,009.70 points. Likewise, the Nifty had ended Tuesday’s session down by 118 points, or 0.49 percent, at 23,913.70 points.

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Hindusthan Samachar / Jun Sarkar