New Delhi, 30 September (H.S.): The domestic equity market was trading with a positive bias in early trade on Wednesday. The market had opened lower, but buying emerged soon after the opening bell, helping both the Sensex and Nifty strengthen. Intermittent bouts of profit-booking also triggered mild selling pressure, but the overall momentum remained firm. After the first hour of trading, the Sensex was up 0.44 per cent, while the Nifty had gained 0.18 per cent.
The BSE Sensex opened 87.92 points, or 0.12 per cent, lower at 72,441.15. Shortly after the start of trading, aggressive buying emerged, enabling the index to recover and move into positive territory. Although occasional profit-booking led to bouts of selling amid sustained buying interest, the sellers were unable to counter the strength of the buyers. At 10:15 a.m., after the first hour of trading, the Sensex was up 315.59 points, or 0.44 per cent, at 72,844.66.
Likewise, the NSE Nifty opened 51.20 points, or 0.23 per cent, lower at 22,665. The index gained momentum soon after the market opened as buying activity picked up. Sustained buying helped the Nifty recover quickly and move into positive territory. Although profit-booking triggered intermittent selling, the strength of buying interest prevented the selling pressure from having a significant impact on the index. At 10:15 a.m., the Nifty was trading 40.55 points, or 0.18 per cent, higher at 22,756.75.
A total of 2,886 stocks were actively traded in the market during the period under review. Of these, 2,130 stocks were trading in positive territory, while 756 were in the red. Among the 30 Sensex constituents, 17 were trading higher on buying support, while 13 were under selling pressure. Similarly, 26 of the 50 Nifty constituents were trading in positive territory, while 24 were trading lower.
Among the major stocks, Tata Consultancy Services (TCS), Tech Mahindra, Wipro, ICICI Bank and HCL Technologies were trading with gains ranging from 2.99 per cent to 2.14 per cent after the first hour of trade. On the other hand, Max Healthcare, Apollo Hospitals, Dr. Reddy’s Laboratories, Adani Ports and Adani Enterprises were trading lower, with losses ranging from 5.13 per cent to 1.38 per cent.
In the previous trading session on Tuesday, the Sensex had closed 242.65 points, or 0.33 per cent, lower at 72,529.07. The Nifty, meanwhile, ended the session down 64.05 points, or 0.28 per cent, at 22,716.20.
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Hindusthan Samachar / Jun Sarkar
