On Wednesday, the domestic stock market started trading with a marginal gain. The BSE Sensex opened at 84,663 with a rise of 35 points, and the NSE Nifty opened at 25,982 with a gain of 46 points. Shares of 26 out of 30 Sensex companies and 41 out of 50 Nifty companies opened in the green.
Share Market Opening: On Wednesday, the third trading day of the week, the stock market commenced with a positive trend. The BSE Sensex rose by 35.52 points (0.04%) to open at 84,663.68, and the NSE Nifty climbed 45.80 points (0.18%) to open at 25,982. In the initial session, shares of 26 out of 30 Sensex companies saw gains, with Titan, L&T, and HCL Tech being among the top performers. Conversely, shares of companies like Tata Motors, Bharti Airtel, and Bajaj Finserv experienced slight declines.
Stability Seen at the Start of the Week
Last week, the market witnessed continuous bullish momentum. The BSE Sensex had concluded the previous week with a gain of 259.69 points, or 0.30 percent. On Thursday, the Sensex hit a new 52-week high, touching the 85,290.06-point level. However, in today's trading, investors appeared somewhat cautious, and a trend of profit-booking was also observed.
26 Sensex Companies in the Green
In today's early trading, shares of 26 out of 30 Sensex companies opened in the green, while 9 companies registered declines. Meanwhile, no significant change was observed in Infosys shares. As for the Nifty 50, 41 out of its 50 companies started trading in the green, while shares of 5 companies opened in the red, and 4 companies' shares remained unchanged.
Titan Company was today's top gainer in the Sensex, with its shares rising by 0.62 percent. Conversely, Mahindra & Mahindra shares fell by 0.59 percent, becoming the weakest performers.
Which Shares Saw Gains
Other Sensex companies also witnessed slight gains during early trading. L&T shares opened with a 0.61 percent increase. HCL Tech was trading up 0.50 percent, Kotak Mahindra Bank 0.46 percent, Sun Pharma 0.42 percent, and NTPC 0.37 percent.
Additionally, Adani Ports gained 0.37 percent, Asian Paints 0.36 percent, Reliance Industries 0.33 percent, Maruti Suzuki 0.33 percent, Trent 0.31 percent, and PowerGrid 0.29 percent. Meanwhile, SBI opened with a 0.28 percent gain, Tata Steel 0.27 percent, HDFC Bank 0.20 percent, Hindustan Unilever 0.17 percent, Tech Mahindra 0.15 percent, ICICI Bank 0.10 percent, TCS 0.06 percent, and BEL shares gained 0.05 percent.
Market experts believe that investors have bought shares in the IT and banking sectors due to expectations of improvement in these sectors.
Which Companies' Shares Fell
On the other hand, some prominent companies' shares registered initial declines. Tata Motors Passenger Vehicles shares opened with a 0.49 percent fall. Bharti Airtel shares decreased by 0.36 percent. Eternal was trading down 0.18 percent, Axis Bank 0.09 percent, Bajaj Finserv 0.08 percent, ITC 0.08 percent, Bajaj Finance 0.04 percent, and UltraTech Cement shares fell by 0.03 percent.
Analysts state that some investors engaged in profit-booking in these companies, which led to a decline in early trading.
Slight Gains in IT and Banking Shares
Sector-wise, IT, Pharma, and FMCG shares showed a positive trend. Conversely, some weakness was observed in the Auto and Cement sectors. Both the Nifty IT index and Bank Nifty showed slight gains, while Nifty Auto appeared to be under pressure.
Market experts indicate that investors are currently keeping an eye on signals from US markets and the quarterly results of domestic companies. Activities of foreign investors and oil prices are also playing a crucial role in determining market direction.
