Sensex Rises Nearly 400 Points, Nifty Approaches 24,000 in Strong Opening Trade
New Delhi, 01 July (H.S.): India''s domestic equity market traded in positive territory during early trade on Wednesday, with both benchmark indices posting solid gains after opening marginally higher. Buying momentum strengthened soon after the o
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New Delhi, 01 July (H.S.): India's domestic equity market traded in positive territory during early trade on Wednesday, with both benchmark indices posting solid gains after opening marginally higher. Buying momentum strengthened soon after the opening bell, pushing the Sensex and the Nifty sharply upward. Although intermittent profit-booking triggered brief bouts of selling, both indices maintained their upward trajectory. After the first hour of trading, the Sensex was up 0.52 percent, while the Nifty had gained 0.51 percent.

Among the heavyweight stocks, Mahindra & Mahindra, Maruti Suzuki, Nestle India, Hindustan Unilever and UltraTech Cement emerged as the top gainers during the first hour, rising between 2.99 percent and 2.01 percent. On the other hand, Tech Mahindra, Bajaj Finserv, HCL Technologies, Dr. Reddy's Laboratories and Hindalco Industries traded lower, declining between 2.08 percent and 0.77 percent.

A total of 2,732 stocks were actively traded during the initial session. Of these, 1,837 advanced while 895 declined. Among the 30 Sensex constituents, 19 traded in the green and 11 were in the red. Similarly, 30 of the 50 Nifty stocks were trading with gains, while 20 were under selling pressure.

The BSE Sensex opened 66.54 points higher at 76,545.21. Sustained buying immediately after the opening lifted the benchmark further despite occasional profit-booking. Amid continued buying and selling activity, the Sensex was trading 395.44 points higher at 76,874.11 at 10:15 a.m.

The NSE Nifty opened 31.90 points higher at 23,897.65. Strong buying interest after the opening pushed the index steadily higher, touching an intraday high of 23,996.40 at around 10:00 a.m. At 10:15 a.m., the Nifty was trading at 23,987.90, up 122.15 points from its previous close.

In the previous trading session on Tuesday, the Sensex had settled 249.70 points, or 0.33 percent, lower at 76,478.67. The Nifty had also ended the day down by 80.50 points, or 0.34 percent, at 23,865.75.

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Hindusthan Samachar / Jun Sarkar


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