New Delhi, 23 July (H.S.): The domestic stock market witnessed a recovery amid volatile trading during the opening session on Thursday. Trading began on a weak note, and soon after the opening bell, buyers and sellers engaged in a tug-of-war, resulting in sharp fluctuations in market movement. Despite the volatility, buyers appeared to gain the upper hand during the first hour of trading. However, after the initial hour, the Sensex was trading 0.18 per cent lower, while the Nifty was down 0.17 per cent.

Among the major stocks, shares of Shriram Finance, Eternal, Hindalco Industries, Trent Limited and Bajaj Finserv were trading higher by 1.29 per cent to 0.61 per cent after the first hour of trading. On the other hand, Dr. Reddy's Laboratories, Nestlé India, Adani Enterprises, Tata Steel and Adani Ports were trading lower by 2.83 per cent to 0.80 per cent.

So far, active trading was witnessed in 2,639 stocks across the market. Of these, 957 stocks were trading in the green with gains, while 1,682 stocks were in the red with losses. Among the 30 Sensex constituents, 10 stocks were trading higher on buying support, whereas 20 were under selling pressure. Similarly, out of the 50 Nifty constituents, 18 stocks were trading in positive territory, while 32 stocks remained in the red.

The BSE Sensex opened 239.95 points, or 0.31 per cent lower, at 76,515.10. Soon after the market opened, buying and selling pressure led to significant fluctuations in the benchmark index. Under heavy selling pressure, the Sensex plunged more than 400 points to touch an intraday low of 76,344.67. However, after the first 20 minutes of trading, buying activity gathered momentum, helping the index recover from its lows. Amid continued buying and selling, the Sensex was trading at 76,615.00 at 10:15 a.m., down 140.05 points.

Similarly, the NSE Nifty opened 91.45 points, or 0.38 per cent lower, at 23,904.80. Following the opening, intensified selling dragged the index down nearly 120 points to an intraday low of 23,876.20. Buyers then stepped in, improving the index's performance. Amid continued market activity, the Nifty was trading at 23,956.65 at 10:15 a.m., down 39.60 points.

In the previous trading session on Wednesday, the Sensex had closed 715.06 points, or 0.92 per cent lower, at 76,755.05. The Nifty had also ended the session with a loss of 191.45 points, or 0.79 per cent, settling at 23,996.25.

---------------

Hindusthan Samachar / Jun Sarkar