NEW DELHI, June 3 (HS): The domestic equity market remained under pressure during early trading on Wednesday amid fears of renewed tensions in West Asia. Trading commenced on a weak note, and selling intensified shortly after the opening bell, dragging both the Sensex and Nifty significantly lower. After the first hour of trading, the Sensex was down 1.16 percent, while the Nifty had declined 1.01 percent.

Among the benchmark stocks, shares of Apollo Hospitals, ONGC, Bajaj Auto, Nestlé India, and Maruti Suzuki were trading in positive territory, posting gains ranging from 0.25 percent to 1.63 percent. On the other hand, TCS, Tech Mahindra, Infosys, HCL Technologies, and Adani Enterprises emerged as the major laggards, falling between 2.34 percent and 6.77 percent.

By the end of the first hour of trading, 2,746 stocks were actively traded in the market. Of these, 885 stocks were trading higher, while 1,861 stocks remained in the red. Among the 30 Sensex constituents, only seven stocks were trading with gains, whereas 23 stocks were under selling pressure. Similarly, on the Nifty, 15 of the 50 constituent stocks were trading in positive territory, while 35 were trading lower.

The BSE Sensex opened at 74,507.73, down 142.11 points from its previous close. Selling pressure intensified immediately after the market opened, leading to a steady decline in the benchmark index. Although buyers attempted to support the market intermittently, the selling momentum remained dominant, pushing the index lower throughout the session.

As a result of persistent selling, the Sensex slipped to an intraday low of 73,719.36 shortly before 10:00 a.m. Buyers subsequently attempted to initiate value buying, resulting in a marginal recovery. Amid continued buying and selling activity, the Sensex was trading at 73,781.35 at 10:15 a.m., down 868.49 points.

Similarly, the NSE Nifty opened 67.60 points lower at 23,415.95. Supported by initial buying interest, the index recovered by more than 30 points in the opening minutes and touched 23,447.65. However, selling pressure soon emerged, causing the benchmark to move sharply lower.

Due to continuous selling across sectors, the Nifty fell to an intraday low of 23,225.50 shortly before 10:00 a.m. Buyers then attempted to provide support, leading to a slight recovery. At 10:15 a.m., after the first hour of trading, the Nifty was quoted at 23,245.55, down 238 points from its previous close.

In the previous trading session on Tuesday, the Sensex had closed 382.50 points, or 0.52 percent, higher at 74,649.84. The Nifty had gained 100.95 points, or 0.43 percent, to settle at 23,483.55.

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Hindusthan Samachar / Jun Sarkar