New Delhi: The stock market started trading flat today amid mixed global cues. Both the Sensex and Nifty indices opened with indicative strength today and, after gaining a slight uptrend for some time, got trapped under selling pressure and fell into the red mark. There is continuous selling pressure on the stock market due to which the Sensex and Nifty are trading with constant weakness.
In early trade, among the heavyweights, Cipla, Tech Mahindra, HCL Technology, Infosys, and TCS remained bullish on the support of buying. On the other hand, stocks like Coal India, Kotak Mahindra, Tata Motors, ONGC, and ITC were showing weakness due to selling pressure.
The Bombay Stock Exchange (BSE) Sensex opened at 58,174.11 points today with a slight gain of 37.75 points. At the beginning of trading, a slight uptrend was also seen in the stock market with the support of buying, due to which the Sensex rose 170.97 points to 58,307.33 points. But after this, there was selling pressure in the market and the Sensex fell and reached the red mark.
The Sensex had fallen to 57,924.49 points in the first half-hour of trading. However, after that, there was some improvement in the position of this index due to buying support. Despite this, the Sensex remained weak due to continued selling pressure. The Sensex was trading at a level of 58,045.55 with a loss of 90.81 points at 10:15 am after trading for the first hour amid continuous buying and selling.
Like the Sensex, the Nifty of the National Stock Exchange (NSE) started trading today with an indicative strength of 3.80 points. After buying for the first ten minutes, Nifty also got trapped under selling pressure and reached the level of 17,262.20 in the red mark.
There was some improvement in Nifty’s position due to slight buying at this level, but due to continuous selling pressure, Nifty continued to trade in the red mark. After trading for the first hour amid continuous buying and selling in the market, the Nifty was trading at a level of 17,295.85 points, down 49.60 points at 10:15 am.
In the pre-opening session, the domestic stock market was also seen trading mixed on a flat level amid mixed global cues. In this session, the BSE Sensex was up by 35.57 points, or 0.06 percent, at 58,171.93 points. On the other hand, the Nifty was down 4.70 points, or 0.03 percent, to reach the level of 17,340.80 in the pre-opening session.
Prior to this, the Sensex closed at 58,136.36 points, up 20.86 points, or 0.04 percent, on the previous trading day, Tuesday.On the other hand, the Nifty ended Tuesday’s trading at 17,345.45 with a gain of 5.40 points, or 0.03 percent.