New Delhi, 29 September (H.S.): The domestic stock market remained under heavy pressure in early trade on Tuesday amid weak global cues and a negative sentiment triggered by a sharp rise in crude oil prices in the international market. The trading session opened on a weak note, and broad-based selling emerged shortly after the opening, causing losses in both the Sensex and Nifty to deepen. Amid continued buying and selling activity, the Sensex was down 0.80 per cent and the Nifty 0.78 per cent by 10 a.m.
The BSE Sensex opened at 72,633.68, down 138.04 points, or 0.19 per cent. Mild buying immediately after the opening lifted the index by around 50 points from its opening level to 72,684.90. However, strong selling pressure subsequently emerged, sending the Sensex lower.
Continued selling dragged the index down by more than 700 points within the first half hour of trading, taking it to 72,064.00. Buyers subsequently attempted to step in and provide support, resulting in a marginal recovery in the index. Amid continued buying and selling, the Sensex was trading at 72,186.21 at 10 a.m., down 585.51 points, or 0.80 per cent.
Like the Sensex, the NSE Nifty also opened lower, declining 47.80 points, or 0.21 per cent, to 22,732.45. Mild buying immediately after the opening lifted the index by around 21 points to 22,753.20. Selling pressure then emerged, weakening the Nifty further.
The sustained selling pressure pushed the index down by more than 200 points within the first half hour, taking it to 22,569.65. Buyers subsequently attempted to support the market through renewed buying, but the effort failed to produce a significant recovery. Amid continued buying and selling, the Nifty was trading at 22,602.00 at 10 a.m., down 178.25 points, or 0.78 per cent.
By that time, active trading was underway in 2,453 stocks. Of these, 621 stocks were trading in positive territory, while 1,832 were in the red. Among the 30 Sensex constituents, only one stock was trading in positive territory with buying support, while 29 were under selling pressure. Similarly, among the 50 Nifty constituents, four stocks were trading in the green and 46 were trading in the red.
Among major companies, shares of Adani Ports, InterGlobe Aviation, Bharti Airtel and Sun Pharmaceutical were trading with gains ranging from 0.09 per cent to 0.37 per cent by 10 a.m. On the other hand, shares of TMPV, Jio Financial Services, HDFC Life, Bajaj Finance and HDFC Bank were trading lower, with declines ranging from 1.65 per cent to 2.66 per cent.
In the previous trading session on Monday, the Sensex had closed sharply lower by 1,124.02 points, or 1.52 per cent, at 72,771.72. The Nifty had also ended Monday’s session with a significant decline of 360.25 points, or 1.56 per cent, at 22,780.25.
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Hindusthan Samachar / Jun Sarkar
