New Delhi, (thestates.news): The domestic stock market closed lower for the second consecutive day on Tuesday. During the day’s trading, weakness was seen in all the sectors, which led to all the sectors being closed by trading at the red mark. The Sensex closed with a fall of over 497 points and the Nifty by over 147 points due to selling pressure. During the day’s trading, there was a strong selling position in the stocks of the IT, pharmaceuticals, FMCG, and auto sectors. Realty and metals sector stocks also remained under constant pressure. In today’s trade, the shares included in the BSE Midcap and Smallcap indices also fell under selling pressure.
The Bombay Stock Exchange (BSE) Sensex opened at 55,834.38 points today with a strength of 68.16 points. As soon as the trading started, there was selling pressure in the market, due to which the Sensex started falling sharply. Once in the middle, buyers also tried to handle the market, due to which the Sensex was seen recovering for a few minutes. Within a short time, the sellers once again dominated the market, owing to which the Sensex kept falling. This selling pressure continued till 10:30 am. But after this, domestic institutional investors tried to handle the market by making sharp buys. With the support of this buying, the Sensex recovered to a level of 55,586.61 points by 1:30 pm. After this, the foreign portfolio investors once again started all-round selling, due to which the Sensex could not recover and went down sharply.
Shortly before the close of the market, due to selling pressure, the Sensex had fallen 562.79 points to reach its lowest level of 55,203.43 points today. The Sensex’s position improved somewhat on the support of buying in the last minute of trading and the index ended today’s trading at 55,268.49, down 497.73 points or 0.89 percent. Like the Sensex, the Nifty of the National Stock Exchange (NSE) started trading today with a gain of 1.90 points from the level of 16,632.90 points. Due to the selling pressure in the market, the Nifty also kept slipping from early trade. For some time, this index was expected to strengthen with the support of buying, but after a short time, due to strong selling, Nifty again fell down.
Nifty continued to work under pressure till 11 am, but after that, Nifty started recovering sharply due to buying by domestic institutional investors. The Nifty reached 16,564.90 points with the support of continuous buying till 1:30 pm. After that, the all-round sell-off forced the Nifty to dive again. After buying and selling throughout the day, the Nifty lost 147.15 points, or 0.88 percent, to close at 16,483.75. During the day’s trading today, among the heavyweights, Bajaj Finserv joined the list of top 5 gainers with a gain of 5.50 percent, JSW Steel 2.09 percent, Grasim Industries 1.09 percent, Bharti Airtel 0.84 percent, and Coal India 0.70 percent. On the other hand, Infosys fell by 3.49 percent, Hindustan Unilever by 2.92 percent, Axis Bank by 2.87 percent, Dr. Reddy’s Lab by 2.74 percent, and Bajaj Auto by 2.38 percent to join the list of top 5 losers.(H.S.)