Markets under pressure: Sensex and Nifty tumble in early trade

The domestic stock market faced pressure during early trade today, with fluctuations marking the session. Trading began flat, but heavy selling pressure quickly pushed both Sensex and Nifty down in the first 15 minutes. After 30 minutes, buying activity brought some recovery. By the first hour, Sensex traded 0.20% lower, while Nifty fell by 0.21%.

Hindalco Industries, Kotak Mahindra, Bajaj Auto, Infosys, and Mahindra & Mahindra showed gains between 0.78% and 0.32%. Conversely, Apollo Hospital, Trent Limited, Larsen & Toubro, UltraTech Cement, and Grasim Industries recorded declines of 1.98% to 1.34%.

Trading activity involved 2,327 stocks. Among them, 1,121 stocks traded in the green, while 1,206 stocks faced losses. Out of the 30 Sensex stocks, 9 gained amidst buying pressure, whereas 21 declined due to selling. Similarly, in Nifty, 11 stocks advanced while 39 retreated.

The BSE Sensex opened with a 57.72-point gain at 78,206.21 points but soon dropped into negative territory due to selling. It fell to 77,846.43 points within the first 15 minutes. However, buying efforts improved its position slightly. By 10:15 AM, Sensex traded at 77,991.19 points, down 157.30 points.

NSE Nifty started lower at 23,674.75 points, losing 14.20 points at the opening. Selling pressure dragged it to 23,593.95 points within 15 minutes. Buying activity offered some respite, with Nifty trading at 23,638.15 points, down 50.80 points, by 10:15 AM.

On the previous trading day, Sensex closed at 78,148.49 points, losing 50.62 points or 0.06%. Meanwhile, Nifty ended at 23,688.95 points, down 18.95 points or 0.08%. The market’s mixed performance highlights the ongoing tug-of-war between buyers and sellers.