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The domestic stock market is under mild pressure on Tuesday after starting the week with new record highs. Due to the record high levels, the market is witnessing profit booking pressure, due to which both the major indexes BSE Sensex and NSE Nifty started trading in the red.
Market condition at 9.30
The Indian stock market had a bad start on Tuesday. Sensex and Nifty opened in red. Talking about the stock market situation at 9.30 am, the Sensex opened 48.97 points down at 84,879 points. Nifty opened 13.35 points down at 25,925.
Such indications were received before the market opened
There are signs of pressure in the trading before the start of trading in the domestic market. In the pre-open session, the Sensex was trading down by about 70 points at 84,860 points and the Nifty was down by about 18 points at 25,920 points. However, in the morning, the Nifty futures in GIFT City were trading at 25,990 points with a great premium of about 75 points.
The start is record breaking
Earlier, the local stock market had a great start to the week on Monday. On Monday, the Sensex closed at 84,928.61 points with a gain of 384.30 points (0.45 percent). Earlier, the Sensex had made a new all-time high of 84,980.53 points in intraday. While Nifty50 made a new record of 25,956 points in intraday. At the end of trading, it closed at 25,939.05 points with a gain of 148.10 points (0.57 percent).
Global market boom
US markets closed higher on Monday. On Wall Street, the Dow Jones Industrial Average closed with a marginal gain of 0.15 per cent. Asian markets were also up on Tuesday, with the S&P 500 index gaining 0.28 per cent and the tech-focused Nasdaq up 0.14 per cent. Japan's Nikkei was up 1.47 per cent and the Topix 1 per cent at the open after a public holiday. South Korea's Kospi is up 0.6 per cent and the Kosdaq is up 0.68 per cent. Hong Kong's Hang Seng index is up 2.18 per cent and mainland China's Shanghai Composite is up 1 per cent.
Big stocks fell in early trade
In early trade, most of the shares on Sensex are trading in the red. Shares like Hindustan Unilever, Infosys, Kotak Bank have seen the biggest decline and have suffered losses of up to 1 percent. Apart from Infosys, IT shares of TCS, HCL Tech and Tech Mahindra are also seeing a decline. At the same time, the market is getting support from metal shares. Tata Steel is stronger by more than 2 percent. JSW Steel is up by about 1.80 percent.