Recovery from lower level in stock market in early trade

Stock market
Picture for representation purpose only

New Delhi, 2 February (HS): Amid mixed global cues, the domestic stock market today seems to be recovering from lower levels. Today’s trading started with weakness. But as business picked up, the market seemed to be recovering. After the initial 1 hour of trading, the Sensex was trading with a gain of 0.05 percent and the Nifty was trading with a weakness of 0.07 percent.

ITC, Britannia Industries, IndusInd Bank, SBI Life Insurance and Infosys were trading 4.59 per cent to 1.54 per cent after the first hour of trading. On the other hand, Adani Enterprises, UPL, HDFC Life Insurance, Adani Ports and Tata Steel were trading with losses ranging from 6.57 per cent to 2.34 per cent.

In the trading so far, there was active trading in 1,914 shares in the stock market. Out of these, 1,326 stocks were trading in the green mark by earning profits, while 588 stocks were trading in the red mark by taking losses. Similarly, out of 30 stocks included in the Sensex, 16 stocks remained in the green mark with the support of buying and 14 stocks remained in the red mark due to selling pressure. While out of 50 stocks included in the Nifty, 15 stocks were seen trading in the green mark and 35 stocks in the red mark.

The Sensex of the Bombay Stock Exchange (BSE) started trading with a decline today. The index opened at a level of 59,459.87 points with a weakness of 248.21 points. As soon as the trading started, there was a slight decline in it, but after a while, fast buying started in the market. With the support of buying, the Sensex started climbing rapidly.

Due to continuous buying in early trade, the index jumped to 59,924.70 points shortly before 10 am. However, due to selling after this, the index also declined marginally. The Sensex was trading at a level of 59,738.01 points with a slight gain of 29.93 points at 10:15 am after the initial 1-hour trading amid continuous buying and selling in the market.

Like the Sensex, the Nifty of the National Stock Exchange (NSE) also started trading with weakness today. The index opened at a level of 17,517.10 points with a fall of 99.20 points. In the early trade, this index also fell to 17,445.95 points, but after that, it also gained momentum due to continuous buying in the market.

Nifty recovered from the lower levels with the support of buying and came in the green mark shortly before 10 am. However, after this, due to the creation of selling pressure, once again this index fell and reached the red mark. Nifty was trading at a level of 17,603.25 points with slight weakness of 13.05 points at 10:15 am after the initial 1-hour trading between continuous buying and selling in the market.

The domestic stock market had made a mixed start in the pre-opening session today amid mixed global cues. In this session, the BSE Sensex was up by 139.54 points, or 0.23 percent, at the level of 59,847.62 points. At the same time, Nifty had reached the level of 17,593.80 points with a decline of 22.50 points, or 0.13 percent, in the pre-opening session.

Prior to this, on the previous trading day i.e. Wednesday, the Sensex closed at a level of 59,708.08 points with a gain of 158.18 points, or 0.27 percent. On the other hand, the Nifty ended Wednesday’s trading at 17,616.30 points, down 45.84 points, or 0.26 percent.

(This story has not been edited by Hubli Express staff and is published from a syndicated feed.)

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