Market slips: Sensex down 240+ pts, Nifty drops below 22,051
Weak global cues pressured the domestic stock market in early trade today. The market opened with a sharp drop but showed signs of recovery as buying picked up. However, selling pressure returned after 10 a.m., deepening losses for both Sensex and Nifty. After the first hour, Sensex fell 0.33%, while Nifty dropped 0.31%.
Among major stocks, State Bank of India, Bharat Electronics, Power Grid Corporation, Tata Motors, and IndusInd Bank gained 1.29% to 3.01%. In contrast, Bajaj Auto, Nestle, Infosys, Titan Company, and HCL Technologies declined 1.60% to 2.73%.
A total of 2,487 shares saw active trading. Of these, 1,825 stocks gained, while 662 declined. In the Sensex, 12 out of 30 stocks traded in the green, while 18 faced losses. In the Nifty, 19 stocks gained, and 31 fell.
The BSE Sensex opened 268.60 points lower at 72,817.34. Selling pressure pushed it to 72,633.54, but buying lifted it to 73,008.41 by 10 a.m. Selling resumed, and by 10:15 a.m., Sensex traded 241.20 points lower at 72,844.74.
Similarly, the NSE Nifty opened 144.85 points lower at 21,974.45. Buying pushed it to 22,091.05 by 10 a.m., but renewed selling dragged it down. By 10:15 a.m., Nifty traded at 22,051.20, down 68.10 points.
On Monday, Sensex closed at 73,085.94, down 112.16 points or 0.15%. Nifty ended at 22,119.30, slipping 5.40 points or 0.02%.
