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Business: After setting a new high on the first day of the week, the market is under some pressure today on Tuesday. Both BSE Sensex and NSE Nifty have started in the red with a slight decline.
Both the major domestic indices started trading with a slight decline at 9:15 am. Sensex fell by about 30 points and Nifty opened almost stable. At 9:20 am, Sensex was trading near 82,530 points with a loss of about 40 points. Nifty50 index had fallen below 25,270 points with a decline of about 10 points.
Such a trend was seen in the pre-open session
The market was in a slight uptrend in the pre-open session. In the pre-open session, the Sensex had crossed 82,650 points with a gain of more than 90 points, while the Nifty jumped by about 35 points and was trading near 25,315 points. Nifty futures looked strong in Gift City in the morning before the market opened. Nifty futures had reached 25,355 points with a premium of about 17 points.
The market started the week on a great note
Earlier on Monday, the first day of the week, the domestic stock market again set a new high. In yesterday's trading, the Sensex closed at 82,559.84 points with a gain of 194.07 points (0.24 percent). Earlier, the Sensex reached a high of 82,725.28 points in intraday, which is the new all-time high level of the Sensex. Similarly, after the end of trading, the Nifty closed at 25,278.70 points with a gain of 42.80 points (0.17 percent). During trading, the Nifty managed to reach a new all-time high level of 25,333.65 points.
State of global stock markets
The US market was closed on Monday on the occasion of Labor Day. In future trade, the Dow Jones Industrial Average has fallen by 0.10 percent. Asian markets are trading in profit today. Japan's Nikkei is up slightly by 0.18 percent, while the Topix has risen by 0.38 percent. South Korea's Kospi has risen by 0.17 percent and Kosdaq has risen by 0.02 percent. However, Hong Kong's Hang Seng index is indicating a bad start today.
Banking-finance stocks fell as soon as they opened
In early trade, most banking and finance stocks on Sensex are in loss. Bajaj Finance is in the biggest loss of 1.20 percent. Bajaj Finserv is down by more than 0.70 percent. IT stocks like Tech Mahindra, Infosys, HCL Tech and TCS are also facing selling. On the other hand, ITC is the biggest gainer by about 0.50 percent. Stocks like Sun Pharma and Tata Motors are also strong.
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