The Indian stock market opened flat on Wednesday. The Sensex opened with a slight gain of 27 points at 81,671, while the Nifty opened with a decline of 14 points at 24,965. Only 10 out of 30 Sensex companies saw their shares rise. Bharti Airtel, NTPC, and Infosys were in the green, while HCL, UltraTech, and Reliance were in the red.
Share Market Opening: On Wednesday, the third trading day of the week, the Indian stock market started sluggishly. The BSE Sensex opened 27.08 points (0.03%) higher at 81,671.47, while the NSE Nifty started trading 14.85 points (0.06%) lower at 24,965.80. The market closed with gains on Tuesday. Today, in early trading, only 10 out of 30 Sensex companies opened in the green. Among these, Bharti Airtel led with a 1.50% gain. On the other hand, shares of major companies like HCL Tech, UltraTech Cement, and Reliance Industries were seen trading in the red.
Initial Status of Sensex and Nifty
On Wednesday morning, the Sensex opened with a marginal gain of 27.08 points, or 0.03 percent, at 81,671.47 points. On the other hand, the Nifty 50 index started trading with a decline of 14.85 points, or 0.06 percent, at 24,965.80 points. On Tuesday, the Sensex closed 370.64 points higher at 81,644.39, and the Nifty closed 103.70 points higher at 24,980.65.
Out of the 30 Sensex companies, only 10 companies opened with gains on Wednesday, while 18 companies were seen in the red with declines. Shares of two companies remained unchanged. The same situation was observed in Nifty 50. In early trading, only 14 out of 50 companies were in the green, while the remaining 36 companies started in the red.
Bharti Airtel Showed the Highest Gain
Among the Sensex companies, Bharti Airtel had the best start. Its shares opened with a gain of 1.50 percent. Following Airtel, NTPC and Infosys also showed gains. NTPC's shares were trading with a gain of 0.75 percent, and Infosys with 0.59 percent. In addition, BEL gained 0.50 percent, Eternal gained 0.48 percent, Sun Pharma gained 0.30 percent, and Maruti Suzuki gained 0.26 percent.
These Stocks Also Showed Strength
In morning trade, Powergrid recorded a marginal gain of 0.07 percent, and Mahindra & Mahindra gained 0.01 percent. Bajaj Finserv, however, started with a slight decline but soon showed a slight recovery, maintaining a stable trend.
List of Declining Stocks
On Wednesday, shares of several major companies opened in the red. HCL Tech was the biggest loser, with a decline of 0.64 percent. UltraTech Cement fell by 0.63 percent, and Reliance Industries by 0.55 percent. In addition, Bajaj Finance was trading down by 0.45 percent, Titan by 0.40 percent, Trent by 0.39 percent, and Asian Paints by 0.36 percent.
Pressure on Banking and Auto Sectors
Stocks in the banking and auto sectors also showed pressure. Tata Motors opened down by 0.34 percent, ICICI Bank by 0.31 percent, and L&T by 0.26 percent. Shares of Hindustan Unilever and Tata Steel also fell by 0.25 percent. Adani Ports was down by 0.18 percent, SBI by 0.16 percent, and HDFC Bank by 0.15 percent. ITC and Tech Mahindra also recorded declines of 0.15 and 0.13 percent, respectively.
Market Was Strong on Tuesday
If we talk about the previous trading day, the market showed strength on Tuesday. The Sensex closed 370 points higher at 81,644 points, and the Nifty closed 103 points higher at 24,980 points. The market also recorded a b rally on Monday. In such a situation, investors were expecting the rally to continue on Wednesday as well, but the market opened flat.
