New Delhi, 04 September (H.S.): Domestic equity markets were witnessing a positive trend in early trading on Friday, supported by favourable global cues. The market opened on a firm note, although both the Sensex and Nifty indices witnessed a marginal decline shortly after the opening as investors began profit-booking. However, within the first 20 minutes of trading, buyers returned strongly and renewed buying support pushed both indices higher again. Amid continued buying and selling activity, after the first hour of trade, the Sensex was trading 0.65 per cent higher, while the Nifty was up 0.27 per cent.
The BSE Sensex opened at 76,657.02 points, gaining 504.16 points, or 0.66 per cent. Shortly after the start of trading, profit-booking emerged, pulling the index down by 125 points from its opening level within the first 20 minutes to 76,529.50 points. Thereafter, buyers stepped in with renewed buying interest, driving the index higher once again. Amid sustained buying and selling activity in the market, at 10:15 a.m., after the first hour of trading, the Sensex was trading at 76,644.79 points, up 491.93 points, or 0.65 per cent.
Like the Sensex, the NSE Nifty also opened higher, gaining 37.45 points, or 0.16 per cent, to begin trading at 23,910.90 points. Selling pressure emerged shortly after the market opened, resulting in a marginal decline in the index. However, buyers soon took charge and fresh buying activity began. Supported by sustained buying, the index climbed to 23,962.55 points before witnessing another marginal decline. Amid continued buying and selling activity, at 10:15 a.m., after the first hour of trade, the Nifty was trading at 23,938.65 points, up 65.20 points, or 0.27 per cent.
A total of 2,882 stocks were actively traded in the stock market so far. Of these, 1,864 stocks were trading in positive territory after posting gains, while 1,018 stocks were trading in the red after suffering losses. Similarly, 27 of the 30 Sensex constituents were trading in the green with buying support, while three stocks were trading in the red under selling pressure. Among the 50 Nifty constituents, 31 stocks were trading in positive territory and 19 in negative territory.
After the first hour of trading, shares of major companies including HDFC Life, Trent Ltd, Reliance Industries, Wipro and SBI Life Insurance were trading with gains ranging from 2.43 per cent to 1.26 per cent. On the other hand, shares of Coal India, Eicher Motors, Maruti Suzuki, Cipla and HCL Technologies were trading lower, declining between 1.24 per cent and 0.36 per cent.
In the previous trading session on Thursday, the Sensex had closed at 76,152.86 points, down 417.49 points, or 0.55 per cent. The Nifty, meanwhile, ended Thursday’s session at 23,873.45 points, registering a decline of 41 points, or 0.17 per cent.
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Hindusthan Samachar / Jun Sarkar
