New Delhi, (thestates.news) : The beginning of August is also looking positive for the domestic stock market after the spectacular rally of July. Both Sensex and Nifty indices opened with strength today. In the early trade, there was slight selling pressure on the stock market, but after a while, due to increased buying force in the market, a strong trend was formed again.
Mahindra & Mahindra, Tata Motors, Cipla, Adani Ports and Maruti Suzuki had a strong trend in today’s early trade due to all-round buying in the shares of the heavyweights. On the other hand, selling pressure was seen in Sun Pharmaceuticals, IndusInd Bank, Britannia Industries, Hindustan Unilever and HDFC Life Insurance.
The Bombay Stock Exchange (BSE) Sensex opened at 57,823.10 points today with a gain of 252.85 points. Sensex slipped 282.74 points from the opening level to reach the level of 57,540.36 points in the red mark due to selling pressure at the beginning of trading. But soon after that the buyers started buying all-round. With this buying support, the Sensex again came in a strong position in a short time. The Sensex was trading at a level of 57,903.28 points with a gain of 333.03 points at 10:15 am after trading for the first 1 hour amid continuous buying and selling in the market.
Like the Sensex, the Nifty of the National Stock Exchange (NSE) started trading today with the strength of 84.95 points at the level of 17,243.20 points. Nifty was also hit by selling in early trade, due to which the index fell in the red mark with a weakness of 3.45 points to 17,154.80 in the first 5 minutes of trading. However, the Nifty was also strengthened by the sharp buying started after this and within a short time Nifty started trading again after reaching the green mark. After buying and selling in the initial 1 hour of trading, at 10:15 am, the Nifty was trading at a level of 17,268.60 with a jump of 110.35 points.
The domestic stock market was seen trading flat today in the pre-opening session amid mixed global cues. In this session, the BSE Sensex was up 94.23 points, or 0.16 percent, at the level of 57,664.48 points. On the other hand, Nifty had reached the level of 17,261.10 points with a gain of 102.80 points or 0.60 percent in the pre-opening session.
Prior to this, on the last day of the last trading week i.e. Friday, the Sensex had gained 712.46 points, or 1.25 percent, to close at 57,570.25 points. On the other hand, Nifty had ended Friday’s trading at 17,158.25 points with a gain of 228.65 points or 1.35 percent.(H.S.)