New Delhi,(thestates.news)| After gaining about 3% in the previous trading week, the domestic stock market began trading with weakness on the first day of this week.The BSE Sensex fell by 391.31 points in the opening hour of trading. However, for the time being, the recovery trend in the stock market seems to be forming. The shares of Dr Reddy’s Lab, ONGC, Mahindra & Mahindra, Coal India, and NTPC remained bullish with the support of buying in the first hour of trading. On the other hand, the IT sector is trading under constant pressure today. TCS, Bharti Airtel, HCL Technology, Infosys, and Tech Mahindra are prominent among the stocks facing a decline today.
The Bombay Stock Exchange Sensex today started trading with a loss of 233.24 points from its level of 54,248.60 points. As soon as the market opened, the bears created selling pressure, due to which the Sensex fell by 391.31 points to a level of 54,090.53 points in the first 20 minutes of trading. However, after this fall, domestic institutional investors (DIIs) started buying sharply in the market, which led to an immediate recovery in the Sensex. The Sensex was trading at a level of 54,265.23 points with a weakness of 219.61 points at 10.15 am after trading for the first hour amid continuous buying and selling.
Like the Sensex, the Nifty of the National Stock Exchange opened with a decline of 84.45 points at 16,136.15 points today. Due to the selling pressure in the market, the Nifty also fell to the level of 16,115.50 points in the first 20 minutes of trading. However, after this, Nifty’s position also improved due to buying by domestic institutional investors. Despite this, the index seems to be trading under pressure at the moment. The Nifty was trading at a level of 54.60 points at 10.15 am after trading for the first hour amid continuous buying and selling. The stock market started trading with weakness today in the pre-opening session amidst mixed global cues. In this session, the BSE Sensex was down 106.54 points, or 0.20 percent, at a level of 54,375.30 points. The Nifty, on the other hand, fell 78.40 points, or 0.48 percent, to 16,142.20 in the pre-opening session.
Prior to this, the Sensex closed at 54,481.84 points on Friday, the last trading day of last week, with a gain of 303.38 points, or 0.56 percent. On the other hand, Nifty ended Friday’s trading at the level of 16,220.60, up 87.70 points or 0.54 percent.(HS).