New Delhi : Despite weak global cues, the domestic stock market today closed with a spectacular recovery from the lower levels after the initial fall. However, despite this recovery, the stock market closed in the red mark with a fall. The stock market started today’s trading with a fall of more than 1.3 percent, but after the initial fall, the market was able to recover to a great extent due to the buying momentum. Sensex closed today with a recovery of 625 points and Nifty 170 points from the lower level.
During the day’s trading, there was an environment of recovery in the market on the basis of shares of the banking and IT sector. On the other hand, there was strong selling pressure in the realty, energy and FMCG sectors. Similarly, stocks in the automobile and pharmaceutical sectors also remained under pressure. Midcap and small-cap stocks also remained on a declining trend in the day’s trade.
Today, there was active trading in a total of 1,996 shares in the stock market throughout the day. Of these, 626 shares closed in the green by making profits. On the other hand, 1,370 shares closed in the red due to selling pressure. Talking about the major stocks, out of 30 stocks included in the Sensex, 11 shares closed in the green mark with an increase and 19 shares fell in the red mark. Similarly, out of 50 stocks included in Nifty, 16 shares closed at the green mark and 34 shares closed at the red mark.
Due to weak global cues, the Bombay Stock Exchange (BSE) Sensex was under pressure since the beginning of trading. The Sensex opened at the level of 57,424.07 points with a weakness of 767.22 points. As soon as trading started, the index fell to a low of 57,365.68 points due to selling pressure. But after that gradually the buying force started increasing in the market.
After the initial 1 hour of trading, all-round buying started in the stock market, due to which the Sensex started rising sharply. In the second trading session of the day, the Sensex jumped to a high of 58,125.01 points on the support of buying. After this, the market once again became under selling pressure, due to which the index slipped below the upper level. After buying and selling throughout the day, the Sensex recovered 625.43 points from today’s low and closed at 57,991.11 points with a weakness of 200.18 points.
Like the Sensex, the Nifty of the National Stock Exchange (NSE) also opened with weakness today. Nifty started trading today with a decline of 220.30 points at the level of 17,094.35. After the opening of the market, the Nifty remained volatile in the initial half-hour trade. With the support of buying, this index jumped to 17,149.65 points. On selling pressure, it fell to 17,064.70 points.
After the initial pressure, sharp buying started in the market from 10:15 am, due to which the Nifty jumped around 1 pm to reach the level of 17,280.15 points. However, due to selling started at this level, the Nifty could not sustain its uptrend. After the day’s buying and selling, the index recovered 170.30 points from the lower level and ended today’s trading at 17,241 points with a weakness of 73.65 points.
After buying and selling throughout the day, Axis Bank rose 2.80 percent, Tata Consultancy Services (TCS) 1.75 percent, HDFC Life Insurance 1.21 percent, Maruti Suzuki 0.95 percent and Eicher Motors 0.94 percent with the rise of 0.94 percent. Joined the list of 5 gainers. On the other hand, Tata Motors declined by 3.93 per cent, Tata Construction 3.04 per cent, Hero MotoCorp 2.07 per cent, Asian Paints by 1.97 per cent and ITC by 1.87 per cent joined the top 5 losers list.