New Delhi, 6 November (H.S.): The domestic stock market exhibited strength amid volatility during early trading on Thursday. After a mixed and flat start, strong buying interest quickly propelled both the Sensex and Nifty indices higher. However, a round of profit-booking emerged within the first five minutes, causing the indices to pare some gains, though they continued to trade firmly in positive territory.
As of 10 AM, the Sensex was up 0.30%, while the Nifty traded higher by 0.15%.By the 10 AM mark, several blue-chip stocks were leading the gains. Shares of Asian Paints, InterGlobe Aviation, Reliance Industries, Mahindra & Mahindra, and ONGC were trading higher by 1.11% to 5.58%.
In contrast, Hindalco Industries, Max Healthcare, Power Grid Corporation, and HDFC Bank were among the top laggards, with losses ranging from 0.48% to 5.59%.Market breadth indicated a cautious sentiment. Out of 2,257 actively traded shares, 770 were advancing in the green, while 1,487 were declining in the red.
Within the Sensex 30-share pack, 17 stocks were trading with gains, supported by buying interest, while 13 were under selling pressure. Similarly, on the Nifty 50, 27 stocks were advancing against 23 decliners.
The BSE Sensex opened with a modest gain of 57.54 points at 83,516.69. Buoyed by initial buying, the index surged to a high of 83,846.35 within the first five minutes before profit-booking trimmed the advance.
Amidst continuous buying and selling, the Sensex was trading at 83,707.82, up by 248.67 points, at 10 AM.
In contrast, the NSE Nifty started the session with a symbolic loss of 4.30 points at 25,593.35. However, buying activity immediately pushed the index to a high of 25,679.15.
Following a subsequent phase of profit-taking, the Nifty was trading at 25,637, with a gain of 39.35 points, as of 10 AM.This follows the previous trading session on Tuesday, where the Sensex had closed at 83,459.15, down 519.34 points or 0.62%, and the Nifty had ended at 25,597.65, a loss of 165.70 points or 0.64%.
---------------
Hindusthan Samachar / Jun Sarkar
