Share Market Open Today: The domestic stock market suffered losses last week after a spectacular rally for 3 consecutive weeks. Still the same pressure is visible on the market.
Share Market Opening on 31 July: The break on the spectacular rally of the domestic stock market last week is still intact. After touching the record high, the profit booking started in the market is not stopping yet.
This is the reason why the pressure created from last week is still intact. For this reason, on the first day of the new week i.e. Monday, both the major domestic indices BSE Sensex and NSE Nifty started trading with a decline.
Last week was like this
Earlier on Friday, both the indices had closed in losses. On Friday, the last day of the week, it fell more than 106 points and closed near 66,160 points. Even for the whole week, the market had to bear the loss. During the last week, the 30-share BSE Sensex was at a loss of 524.06 points, or 0.78 per cent.
The Nifty closed with losses during the week to close at 19,646. The domestic market was at a record high on 20 July. On that day the Sensex had achieved its new all-time high of 67,619.17 points. Since then the market has been under pressure.
Pressure in pre-open session as well
In the business of the first day of the week, there has been pressure on the domestic market since the pre-open session. Nifty futures in Gujarat’s Gift City were trading at 19,788.50 points with a slight rise in the morning. Although both Sensex and Nifty were in loss in the pre-open session. Both the indices were showing in red mark.
As soon as the trading started in the market at 09:15 am, both Sensex and Nifty went into loss. BSE’s 30-share index Sensex was trading below 66,115 points with a fall of about 50 points at 9.25 am. At the same time, Nifty was trading below 19,630 points with a loss of about 30 points. Early trading trends are showing that the domestic stock market may remain in losses even today.
Global market boom
There was a boom in the American markets on Friday. The Dow Jones Industrial Average closed 0.22 percent stronger on the last day of the week. At the same time, there was a gain of 1.46 percent in Nasdaq and 0.60 percent in S&P 500.
Asian market also strong
Today on Monday, there is a boom in the Asian markets as well. On the first day of the week, Japan’s Nikkei index is trading at a profit of 1.11 per cent, while the Topix index is trading at a profit of 1.27 per cent. South Korea’s Kospi is up 0.65 percent, while Kosdaq is up 1.21 percent. Hong Kong’s Hangseng is showing a gain of more than 240 points.
Start of Sensex companies
Talking about the initial business, the shares of most of the Sensex companies are in profit. At 09:25 am, shares of 17 out of 30 Sensex companies were in the green zone, while shares of 13 companies started trading at a loss.
In today’s early trade, shares like NTPC, Tata Steel, JSW Stuhl, Powergrid Corporation were seen up by 1 per cent to 2.5 per cent, while on the other hand, shares like Asian Paints and Bajaj Finance were at a loss of more than 1-1 per cent.
