New Delhi, 22 March (HS):Amid strong global cues, the Indian stock market also started trading with gains for the second consecutive day today. But after a while, due to the tussle between the buyers and the sellers in the market, the speed of the market also started showing sharp ups and downs.

At present, the stock market seems to be losing its gains due to heavy selling pressure in the early trade. However, both the Sensex and Nifty indices remain in the green. After the initial 1 hour of trading, the Sensex was seen trading with a strength of 0.19 percent and Nifty by 0.23 percent.

Bajaj Finance, Tata Consumer Products, Hindalco Industries, Bajaj Finserv and SBI Life Insurance were trading with gains ranging from 2.07 per cent to 1.77 per cent during the first one hour of trading. On the other hand, shares of BPCL, Coal India, Apollo Hospitals, Cipla and Power Grid Corporation were seen trading with weakness ranging from 1.55 per cent to 0.81 per cent.

In the trading so far, there was active trading in 1,927 shares in the stock market. Out of these, 1,514 stocks were trading in the green mark by earning profit, while 413 stocks were trading in the red mark by taking losses. Similarly, out of 30 stocks included in the Sensex, 21 stocks remained in the green mark with the support of buying. On the other hand, 9 stocks were trading in red mark under selling pressure. Whereas out of 50 stocks included in Nifty, 37 stocks were seen trading in green mark and 13 stocks in red mark.

Amid positive global cues, the Bombay Stock Exchange (BSE) Sensex today opened with a gain of 170.58 points at 58,245.26 points. As soon as the market opened, the Sensex jumped 344.10 points to reach 58,418.78 points with the support of buying. But after this, due to selling pressure, the index plunged to 58,144.21 points in the next 20 minutes.

The Sensex was trading at a level of 58,187.59 points with a gain of 112.91 points at 10:15 am after the initial 1-hour trading amid continuous buying and selling in the market.

Like the Sensex, the Nifty of the National Stock Exchange (NSE) also started trading today at a level of 17,177.45 points with a gain of 69.95 points. As soon as the market opened, the Nifty jumped almost 100 points to reach 17,207.25 points with the support of buying. But due to selling pressure, this index slipped to 17,132 points in a short time. Nifty was trading at a level of 17,146.30 points with a gain of 38.80 points after the initial 1-hour trading between continuous buying and selling in the market.

Despite strong global cues, the domestic stock market made a mixed start in the pre-opening session today. In this session, the BSE Sensex was at a level of 58,054.29 points with a weakness of 20.39 points, or 0.04 percent. At the same time, the Nifty had reached the level of 17,166.90 points with a gain of 59.40 points, or 0.35 percent, in the pre-opening session.

Prior to this, on the previous trading day i.e. Tuesday, the Sensex jumped 445.73 points, or 0.77 percent, to close at 58,074.68 points. On the other hand, the Nifty ended Tuesday's trade at 17,107.50 points, up 119.10 points, or 0.70 percent.

Hindusthan Samachar / Yogita / Mukund/Indrani Sarkar