New Delhi, 08 July (H.S.):

India's domestic equity markets traded under pressure during early trading on Wednesday as renewed tensions in West Asia and a rise in crude oil prices dampened investor sentiment. Both benchmark indices opened lower and extended their losses as selling intensified shortly after the opening bell. By 10:00 a.m., the BSE Sensex and the NSE Nifty were trading down 0.61 per cent and 0.62 per cent, respectively.

Among the blue-chip stocks, Wipro, Dr. Reddy's Laboratories, Sun Pharmaceutical Industries, Cipla and Coal India were the top gainers, rising between 0.58 per cent and 1.14 per cent during early trade. On the other hand, Jio Financial Services, Shriram Finance, Asian Paints, InterGlobe Aviation and Reliance Industries emerged as the biggest laggards, declining between 2.33 per cent and 2.97 per cent.

A total of 2,671 stocks were actively traded on the exchanges by 10:00 a.m. Of these, 924 advanced, while 1,747 declined. On the BSE Sensex, seven of the 30 constituent stocks were trading in positive territory, while the remaining 23 were under selling pressure. Similarly, on the NSE Nifty, 16 of the 50 constituent stocks were trading higher, whereas 34 were in the red.

The BSE Sensex opened 364.27 points lower at 77,816.45. Soon after the opening, the index recovered marginally to touch an intraday high of 77,850.46 on the back of selective buying. However, fresh selling pressure soon emerged, dragging the benchmark lower. Although intermittent buying provided some support, it was insufficient to offset the sustained selling. By 10:00 a.m., the Sensex was trading at 77,701.57, down 479.15 points.

The NSE Nifty also opened weak, falling 139.15 points to begin the session at 24,259.55. Early buying lifted the index to an intraday high of 24,295.25, but renewed selling pressure pushed it steadily lower. Within the first 20 minutes of trading, the index slipped to 24,207.20 before selective buying helped trim some of the losses. At 10:00 a.m., the Nifty was trading at 24,247.80, down 150.90 points.

In the previous trading session on Tuesday, the BSE Sensex had closed 104.35 points, or 0.13 per cent, lower at 78,180.72. The NSE Nifty also ended the day with a loss of 31.65 points, or 0.13 per cent, settling at 24,398.70.

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Hindusthan Samachar / Jun Sarkar