New Delhi, 27 August (H.S.): The domestic stock market closed lower for the second consecutive session on Thursday, weighed down by global pressure and selling pressure on the monthly expiry day of the BSE. The market had opened on a firm note, with both the Sensex and Nifty gaining marginally on early buying support. However, the gains failed to hold for long, and selling pressure soon emerged, pushing both indices lower. At the close of trading, the Sensex fell 0.70 per cent, while the Nifty declined 0.48 per cent. The market downturn wiped out approximately Rs 3.69 lakh crore from investors' wealth in a single session.

The BSE Sensex opened at 77,576.76, gaining 103.82 points, or 0.13 per cent. Shortly after the opening, buying support pushed the index up by 222.03 points, or 0.29 per cent, to an intraday high of 77,694.97. However, selling pressure subsequently emerged, sending the Sensex steadily lower.

Although buyers made several attempts during the session to revive the market through renewed buying, none of these efforts could withstand the intense selling pressure. Continued selling dragged the Sensex 761.38 points from its day's high. The index eventually closed at 76,933.59, down 539.35 points, or 0.70 per cent.

Similarly, the NSE Nifty opened at 24,277.60, up 69.85 points, or 0.29 per cent. Immediately after the opening, buying support lifted the index by 89.70 points, or 0.37 per cent, to an intraday high of 24,297.45. Thereafter, selling pressure intensified, pushing the index into negative territory.

Around 1 p.m., buyers attempted to stage a recovery, resulting in a marginal improvement in the index for a brief period. However, the recovery failed to sustain. Around 2 p.m., bears once again triggered broad-based selling. As selling continued, the Nifty slipped 206.60 points from its day's high and closed at 24,090.85, down 116.90 points, or 0.48 per cent.

During Thursday's trading session, stocks in the capital goods, consumer durables and pharmaceutical sectors remained in demand. In contrast, media, metal, and oil and gas stocks remained under sustained selling pressure. Banking, IT, automobile, FMCG and public sector enterprise indices also ended in the red. The broader market likewise remained under pressure, with the Nifty Midcap index declining 0.10 per cent and the Smallcap index falling 0.13 per cent.

The market decline reduced investors' wealth by more than Rs 3.60 lakh crore during the session. The market capitalisation of companies listed on the BSE fell to Rs 491.54 lakh crore (provisional) at the close, compared with Rs 495.23 lakh crore at the end of Wednesday's trading session. Thus, investors suffered a loss of approximately Rs 3.69 lakh crore in Thursday's session.

A total of 4,526 stocks were actively traded on the BSE during the day. Of these, 1,824 closed with gains, while 2,491 declined and 211 remained unchanged. On the NSE, 3,188 stocks witnessed active trading, with 1,139 closing in positive territory and 2,049 ending lower.

Among the 30 Sensex constituents, five stocks advanced, 24 declined and one remained unchanged. Of the 50 Nifty constituents, 18 closed higher, 31 lower and one remained unchanged.

Among the major gainers, Adani Enterprises rose 1.83 per cent, Kotak Mahindra Bank gained 1.80 per cent, Adani Ports advanced 1.33 per cent, Cipla climbed 1.23 per cent and Bharat Electronics rose 1.01 per cent, placing them among the day's top five gainers.

On the other hand, Hindalco Industries fell 2.75 per cent, HDFC Bank declined 2.23 per cent, Mahindra & Mahindra dropped 2.01 per cent, Shriram Finance slipped 1.48 per cent and HCL Technologies declined 1.27 per cent, making them the day's top five losers.

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

Hindusthan Samachar / Jun Sarkar