Delhi, 30 October (H.S.):

India’s domestic stock market faced significant pressure during early trading on Thursday, with both benchmark indices opening lower and extending their losses. After a brief recovery attempt fueled by initial buying, the market succumbed to broad-based selling pressure, pushing the Sensex and Nifty further into negative territory.

By 10 AM, the Sensex was trading down 0.57%, while the Nifty had fallen by 0.58%.The BSE Sensex opened with a gap down of 246.23 points at 84,750.90. It touched an early intraday high of 84,906.95 before selling pressure intensified. By 10 AM, the index had retreated to 84,511.07, marking a decline of 486.06 points. Similarly, the NSE Nifty 50 index began the session at 25,984.40, down 69.50 points.

After a brief rally to 26,032.05 in the first five minutes, it fell back. At 10 AM, the Nifty was trading at 25,903.80, down 150.10 points. This follows a positive closing on Wednesday, where the Sensex ended at 84,997.13 and the Nifty at 26,053.90.The market breadth was negative, indicating widespread weakness.

Out of 2,201 stocks actively traded, 1,208 were declining while only 993 were advancing. The weakness was reflected in the major indices, with 28 of the 30 Sensex components and 38 of the 50 Nifty components trading in the red.

Among individual stocks, some notable gainers included Larsen & Toubro, Shriram Finance, Tata Motors (TMPV), Jio Financial, and InterGlobe Aviation, which were up between 0.58% and 2.13%. On the other hand, major laggards included Dr. Reddy’s Laboratories, Bharti Airtel, Max Healthcare, Cipla, and Trent Ltd., which saw declines ranging from 0.90% to a significant 4.78%.

Hindusthan Samachar / Jun Sarkar