Today, the fear of profit recovery in the start-up business is seen dominating the domestic stock market. Although the market has started doing business in the green zone today, the lead is seen in a limited scope.
The BSE Sensex opened the trade today down 35 points. The Nifty also opened down over 22 points. However, the market reached the green mark within minutes. At 9.20 am, the Sensex was up nearly 100 points at 78,150. However, the Nifty remained almost stable near 23,720 points.
Signs of continued recovery
There are signs of pressure on the market today in the pre-open session. BSE in the pre-open session before the market opens. The Sensex was seen up 40 points, while the Nifty remained almost flat. On the other hand, the Gift Nifty remained close to 23,700 points with a decline of about 30 points.
Earlier on Tuesday, the market had hit a new record high. The BSE Sensex closed at 78,053.52 points, a resounding jump of 712.45 points (0.92 per cent) after the close of business on Tuesday. This is the first time that the Sensex has closed above the 78 thousand mark. Earlier during the business, the Sensex also made a new all-time high of 78,164.71 points.
While the NSE’s Nifty 50 index closed up 183.45 points (0.78 per cent) at 23,721.30 points on Tuesday. The Nifty 50 index touched 23,754.15 points during the trade, which is now its new all-time high level.
A mixed tree in the foreign market
Today, a mixed trend is seen in the Asian markets. Japan’s Nikkei is down 0.26 percent, South Korea’s Kospi is down 0.38 percent. The Topix index is also down 0.17 percent. While Kosdaq is 0.38 percent stronger. Hong Kong’s Hang Seng is showing signs of early losses. Earlier on Tuesday, there was a mixed trend in the American markets. While the Nasdaq rose 1.26 percent, the Dow Jones Industrial Average fell 0.76 percent. The S&P500 index rose 0.39 percent.
Status of large shares in startup business
In the opening session today, almost half of the major stocks are in gains and half are in losses. In the morning, an increase of about one and a half percent was seen in UltraTech Cement. Shares of ICICI Bank were also stronger by more than 1 percent. On the other hand, HDFC Bank was the biggest loser at 1 percent. IT stocks like Infosys and TCS were under pressure in early trade today.
