New Delhi, 28 September (H.S.):
The domestic equity market remained under pressure during early trading on Monday. The market opened lower today, and selling pressure intensified soon after the opening, causing both the Sensex and Nifty to weaken further. At around 10 a.m., the Sensex was down 1.15 percent, while the Nifty was trading 1.17 percent lower.
The BSE Sensex opened at 73,734.83 points, declining 160.91 points, or 0.22 percent, from its previous close. Selling began immediately after the market opened, causing the index to extend its losses. Amid sustained selling pressure, the index fell below the 73,000-point mark shortly before 10 a.m., touching an intraday low of 72,981.11 points. Thereafter, buying emerged at lower levels, leading to a marginal recovery. Amid continued buying and selling activity, the Sensex was trading at 73,049.09 points at around 10 a.m., down 846.65 points, or 1.15 percent.
Like the Sensex, the NSE Nifty also opened lower, declining 75.60 points, or 0.33 percent, to 23,064.90 points. Broad-based selling emerged shortly after the market opened, weakening the index further. Due to sustained selling pressure, the Nifty fell to 22,855.45 points within the first half-hour of trading. Buyers subsequently attempted to step in, resulting in a marginal recovery. Amid continued buying and selling activity, the Nifty was trading at 22,869.65 points at around 10 a.m., down 270.85 points, or 1.17 percent.
A total of 2,216 stocks were actively traded in the market so far. Of these, 528 stocks were trading in positive territory, while 1,688 stocks were in the red. Among the 30 Sensex constituents, only one stock was trading in positive territory with buying support, while 29 stocks were trading lower under selling pressure. Among the 50 Nifty constituents, 11 stocks were trading in the green and 39 in the red.
By around 10 a.m., shares of major companies including Dr. Reddy’s Laboratories, Infosys, Coal India and Tata Steel were trading with gains ranging from 0.10 percent to 1.55 percent. On the other hand, shares of Max Healthcare Institute, Tata Consumer Products, HDFC Bank, Bajaj Finance and Hindalco Industries were trading lower, with declines ranging from 1.58 percent to 1.99 percent.
Earlier, on Friday, the last trading session of the previous week, the Sensex had closed 315.20 points, or 0.43 percent, higher at 73,895.74 points. The Nifty, meanwhile, ended Friday’s trading session 77.40 points, or 0.34 percent, higher at 23,140.50 points.
---------------
Hindusthan Samachar / Jun Sarkar
