Sensex and Nifty open strong but slip from highs amid profit booking; markets remain in green with mixed sector performance.
India’s benchmark equity indices, the BSE Sensex and NSE Nifty 50, opened on a strong note on Wednesday but later retreated from their intraday highs due to profit booking, even as both indices continued to trade in positive territory.
The early optimism in the market was tempered by selling pressure that emerged within the first hour of trading, reflecting cautious investor sentiment.
Strong Opening Followed by Pullback
The BSE Sensex began the session with a sharp gain of over 400 points, touching an intraday high of 77,675.01. However, the momentum slowed as investors began booking profits.
By around 10:15 AM, the index was trading at 77,279.55, still up 261.76 points (0.34%), indicating resilience despite the pullback.
Similarly, the NSE Nifty 50 opened higher at 24,171, climbed to 24,250.85, and later eased to 24,132.50, maintaining a gain of 99.70 points (0.41%).
Profit Booking Caps Gains
Market participants attributed the decline from early highs to profit booking after recent gains.
Analysts noted that while the broader trend remains positive, intermittent selling is likely as investors lock in profits, especially in stocks that have seen sharp rallies in recent sessions.
Top Gainers Lead the Rally
Among the notable gainers in early trade were:
- InterGlobe Aviation
- Mahindra & Mahindra
- Trent Limited
- Bajaj Auto
- Bajaj Finserv
These stocks recorded gains ranging between 1.48% and 3.17%, supported by sectoral buying.
Losers Weigh on Market
On the other hand, several heavyweight stocks faced selling pressure, including:
- Larsen & Toubro
- Hindustan Unilever
- Titan Company
- Power Grid Corporation of India
- Oil and Natural Gas Corporation
These stocks declined between 0.64% and 3.34%, limiting the overall market upside.
Market Breadth Remains Positive
Despite the pullback, the broader market showed strength:
- 2,777 stocks were actively traded
- 1,940 stocks advanced
- 837 stocks declined
Within the BSE Sensex, 23 out of 30 stocks were trading in the green, while only seven declined.
Similarly, on the NSE Nifty 50, 41 out of 50 stocks were positive, indicating a broadly optimistic market sentiment.
Sectoral Trends
Sector-wise, gains were seen in:
- Automobile stocks
- Aviation sector
- Financial services
Meanwhile, weakness was observed in:
- FMCG stocks
- Infrastructure companies
- Energy sector
This mixed trend reflects sector-specific movements rather than a uniform market direction.
Previous Session Recap
In the previous trading session, both indices had ended in the red:
- The BSE Sensex closed 251.61 points lower (0.33%) at 77,017.79
- The NSE Nifty 50 fell 86.50 points (0.36%) to 24,032.80
The current session’s gains indicate a partial recovery from Tuesday’s losses.
Investor Outlook
Market experts suggest that volatility may persist in the near term due to:
- Profit booking at higher levels
- Global market cues
- Sectoral rotations
However, the fact that both indices are holding in positive territory indicates underlying strength in the market.
Markets Hold Ground Despite Volatility
The early session trend shows that while the BSE Sensex and NSE Nifty 50 have retreated from their highs, they continue to maintain gains, supported by broad-based buying.
As trading progresses, investor focus will remain on sustaining momentum amid intermittent selling pressure and evolving market cues.
Inputs & Images: Hindusthan Samachar
Edited By: Akshaya Polepalli
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