The domestic market is experiencing selling pressure due to weak signals from the global market. On the eve of the Budget presentation for the fiscal year 2024-25, major equity indices faced significant declines. Upon market opening, the Nifty dropped to 24,400, while the Sensex fell to 80,100.
All Nifty sector indices, with the exception of FMSG, are trading in negative territory. Midcap and smallcap stocks are also experiencing selling pressure. As a result, the total market capitalization of BSE-listed companies has decreased by Rs 2.34 lakh crore, reflecting a corresponding drop in investors' wealth at the market's opening.
The BSE Sensex is currently trading at 80,154.13, down by 450.52 points or 0.56%, while the Nifty 50 stands at 24,378.85, 152.05 points or 0.62% lower. This follows yesterday's closing figures of 80,604.65 for the Sensex and 24,530.90 for the Nifty.
Out of the 30 stocks listed in the Sensex, 10 are currently in the green zone. Notable gainers include Nestle, ITC, and HDFC Bank. Conversely, Reliance, Kotak Bank, and JSW Steel are among the biggest losers. Additionally, Nestle, Hindustan Unilever, NTPC, TCS, Sun Pharma, and Airtel are leading the list of top gainers.