Business

IIE DIGITAL DESK ; New Delhi, June 10: Domestic equity markets opened on a firm note on Wednesday, with benchmark indices Sensex and Nifty showing an upward trend in early trade. Although the market initially displayed a mixed and volatile pattern at the opening, selling pressure briefly pushed both indices lower. However, the downturn was short-lived as buying interest soon returned, helping the market recover strongly and move into positive territory.

By around 10:00 AM, Sensex was trading higher by 0.64 percent, while Nifty had gained 0.52 percent, reflecting renewed investor confidence and sustained buying momentum across key sectors.

Several frontline stocks showed strong performance. Shares of Hindustan Unilever, Nestle, Reliance Industries, Tata Consumer Products, and Asian Paints were trading higher, with gains ranging between 1.02 percent and 2.68 percent. These heavyweight stocks provided significant support to the broader market and contributed to the upward movement of the indices.

The other hand, some stocks came under pressure and traded in the red. Hindalco Industries, Infosys, Eternal, Adani Enterprises, and Shriram Finance witnessed declines ranging from 0.56 percent to 3.19 percent, reflecting selective selling in certain sectors, particularly IT and financial services.

Market breadth remained positive overall. Out of 2,723 actively traded stocks, 1,607 advanced and were trading in the green, while 1,116 declined and remained in the red. In the Sensex basket, 19 out of 30 stocks were trading higher, while 11 stocks were under selling pressure.

The Nifty index, 30 out of 50 stocks were trading in positive territory, while the remaining 20 were in decline. The broader market trend indicated a generally optimistic sentiment despite intraday fluctuations.

The BSE Sensex opened with a gain of 69.51 points at 73,988.27. Soon after opening, the index briefly slipped into negative territory due to selling pressure, touching 73,897.83. However, strong buying interest quickly reversed the decline, pushing the index back into positive territory. By 10:00 AM, Sensex had surged by 475.44 points to trade at 74,394.20.

The NSE Nifty opened slightly weaker at 23,233.95, down by 8.15 points. It initially dipped further to 23,217.30 amid selling pressure but soon recovered as buying activity intensified across key stocks. The index climbed sharply to 23,384.45 during early trade before experiencing minor profit booking. By 10:00 AM, Nifty was trading at 23,363, maintaining its gains despite fluctuations.

The early session reflected strong market resilience, with investors stepping in to buy on dips and support key indices. Analysts suggest that sustained buying in heavyweight stocks and improving sentiment across sectors helped the market recover quickly from initial volatility.