New Delhi, 23 June (H.S.):

The domestic equity market was trading with marginal gains during early trade on Monday after recovering from an initial decline. The benchmark indices had opened lower, and selling pressure intensified immediately after the opening bell, dragging both the Sensex and the Nifty further into negative territory. However, buyers soon stepped in aggressively, helping both indices recover and move into positive territory. After the first hour of trading, the Sensex was up 0.09 per cent, while the Nifty was trading 0.08 per cent higher.

Among the heavyweight stocks, Dr. Reddy's Laboratories, Cipla, Sun Pharmaceutical Industries, Shriram Finance, and Apollo Hospitals Enterprise were trading with gains ranging between 0.86 per cent and 2.75 per cent after the first hour of trading. On the other hand, Infosys, Hindalco Industries, Tata Consultancy Services (TCS), HCL Technologies, and Wipro were trading lower by 1.20 per cent to 2.83 per cent.

So far during the session, active trading was witnessed in 2,779 stocks on the exchanges. Of these, 1,555 stocks were trading in the green with gains, while 1,224 stocks were trading in the red with losses. Among the 30 constituent stocks of the Sensex, 19 were trading higher on buying support, while 11 remained under selling pressure. Similarly, out of the 50 constituent stocks of the Nifty, 31 were trading in positive territory and 19 were in the red.

The BSE Sensex opened marginally lower by 8.02 points at 77,086.05. Soon after trading commenced, sustained selling pressure dragged the index down to an intraday low of 76,878.66. Buyers, however, quickly entered the market, improving the overall trend. Supported by fresh buying, the index recovered into positive territory within a short span. Amid continued buying and selling activity, the Sensex was trading at 77,163.41, up 69.34 points, at 10:15 a.m. after the first hour of trade.

Similarly, the NSE Nifty opened 31.60 points lower at 24,071.30. Intensifying selling pressure after the opening pushed the index down to an intraday low of 24,040.05. Thereafter, buying momentum strengthened, enabling the index to recover steadily. Backed by sustained buying, the Nifty moved into positive territory within the first half hour of trading. At 10:15 a.m., after the first hour of trade, the index was trading at 24,122.55, up 19.65 points.

In the previous trading session on Monday, the BSE Sensex had closed 291.17 points, or 0.38 per cent, higher at 77,094.07. The NSE Nifty had also ended the session with a gain of 89.80 points, or 0.37 per cent, closing at 24,102.90.

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Hindusthan Samachar / Jun Sarkar