NEW DELHI, September 07 (H.S.): The domestic equity market remained under pressure during early trading on Monday, with both benchmark indices, the Sensex and Nifty, witnessing declines. The market opened on a weak note, although buyers initially attempted to build buying momentum soon after the opening, leading to a marginal recovery in the movement of both indices. However, selling pressure soon emerged, pushing the benchmarks further into negative territory. By 10 a.m., the Sensex and Nifty were trading 0.34 per cent lower.

The BSE Sensex opened 69.38 points, or 0.09 per cent, lower at 76,446.05. Immediately after the opening, buying support helped the index edge up to 76,477.19. However, the emergence of selling pressure subsequently dragged the index lower. Amid continued buying and selling activity, the Sensex had fallen 260.05 points, or 0.34 per cent, to 76,255.38 by 10 a.m.

Similarly, the NSE Nifty began trading at 23,883.15, down 14.55 points, or 0.06 per cent. Buying support immediately after the market opened lifted the index to 23,890. However, the index subsequently declined as investors began selling shares. Amid persistent buying and selling activity, the Nifty was trading 80.10 points, or 0.34 per cent, lower at 23,817.60 by 10 a.m.

A total of 2,985 stocks were actively traded in the stock market so far. Of these, 1,527 stocks were trading in positive territory, while 1,458 were in the red after suffering losses. Among the 30 Sensex constituents, 10 stocks were trading in the green with buying support, while 20 were trading in the red under selling pressure. Similarly, of the 50 Nifty constituents, 16 stocks were trading higher and 34 were trading lower.

By 10 a.m., shares of major companies including Eicher Motors, Bharti Airtel, Bharat Electronics, ICICI Bank and Coal India were trading with gains ranging from 0.77 per cent to 0.43 per cent. On the other hand, shares of Infosys, Tech Mahindra, HCL Technologies, Wipro and Bajaj Auto were trading lower, with declines ranging from 2.58 per cent to 1.12 per cent.

Earlier, on Friday, the last trading session of the previous week, the Sensex had closed 362.57 points, or 0.48 per cent, higher at 76,515.43. The Nifty, meanwhile, ended Friday’s session with a gain of 24.25 points, or 0.10 per cent, at 23,897.70.

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Hindusthan Samachar / Jun Sarkar