The downtrend in the stock market came to a halt, the Sensex made a recovery after falling 955 points


New Delhi. The period of decline in the Indian stock market since the last trading week came to an end today. The domestic stock market closed with a fall every day except on the first trading day of last week. Even today, at the beginning of the first session, the stock market showed signs of a tremendous decline, but in the first session itself, the stock market also made a tremendous recovery. Due to this, despite facing a tremendous fall initially, both the Sensex and Nifty indices ended today’s trading in the green mark.

The volatility in the market can be gauged from the fact that the Sensex fell by 955.31 points from its top level today, while the Nifty also fell by 272.90 points from its top level. But in the very first session when the stock market recovered, Sensex was able to recover 854.23 points from today’s low and Nifty was able to recover 242.50 points from today’s low.

This morning the Bombay Stock Exchange (BSE) Sensex started trading at 61,398.75 points with a gain of 577.13 points. In the opening minutes of trading, the Sensex jumped to the level of 61,404.99 points due to positive global sentiments. After this, the bears occupied the market, due to which a period of strong selling started. The selling pressure was so much that the Sensex jumped 955.31 points from today’s top level and 371.94 points from the previous closing level to reach the level of 60,449.68 points just before 10 pm.

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Immediately after this strong fall in the Sensex, the buyers became active and started buying aggressively in the stock market. With the support of buying, the Sensex started climbing continuously. On the strength of continuous buying, the Sensex recovered about 600 points in the next 1 hour of trading and reached the level of 61,050.10 points. At this level, the bears once again tried to dominate the market, which also led to a slight decline in the Sensex.

Within a short time, the buyers again took the lead, due to which the Sensex recovered 854.23 points and reached the level of 61,303.91 points at around 12 noon. Although the Sensex could not sustain at this level, the Sensex also declined marginally under selling pressure. Despite this, the Sensex traded in the green mark till the end and put the brakes on the decline that has been going on for the last four trading days. In the end, the Sensex closed at 60,967.05 with a general strength of 145.43 points.

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Like the Sensex, the Nifty of the National Stock Exchange (NSE) also started trading today with a jump of 114.60 points from the level of 18,229.50 points. Due to positive global cues, the Nifty jumped nearly 11 points to reach the level of 18,241.40 in the opening minute. But the strong sell-off that started at this level forced Nifty to take a dive of 272.90 points from today’s top level. Due to this strong fall, for the first time since October 12, the Nifty fell from the range of 18 thousand points to the level of 17,968.50 points in the range of 17 thousand points.

After this strong fall in Nifty, buying in the market became active and buying started fiercely. With the support of this buying, the Nifty recovered about 175 points in the next one and a half hours of trading and once again reached the range of 18 thousand and started trading at the level of 18,173.80 points. After reaching this level of Nifty, once again the sellers tried to dominate the market and pushed the index down a bit, but this time when the buyers insisted, the Nifty was up 242.50 points from today’s low. Gave up to 18.211 points. However, later due to intraday settlement, Nifty slipped below this high and closed at 18,125.40 with the strength of just 10.50 points.

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After the day’s trading, ICICI Bank 10.85 per cent, Axis Bank 3.48 per cent, ONGC 2.77 per cent, JSW Steel 0.97 per cent and Dr Reddy’s Lab 0.83 per cent were included in the list of top 5 gainers today. On the other hand, BPCL fell by 3.48 per cent, SBI Life Insurance by 3.21 per cent, Bajaj Finserv 3.06 per cent, Bajaj Auto 2.66 per cent and HCL Technologies by 2.4 per cent to join the list of top 5 losers today.

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